Govt not to introduce any new tax in upcoming budget: Hafeez

ISLAMABAD, May 18 (APP):Adviser to the Prime Minister on Economic Affairs Abdul Hafeez Sheikh Monday said the government would not introduce any new tax in the coming budget. Talking to a private news channel, he said the government would have to do work hard in coming days to reduce the budget deficit to nine per… Continue reading Govt not to introduce any new tax in upcoming budget: Hafeez

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Khusro witnesses signing ceremony of $ 371.0 million agreement with WB

ISLAMABAD, May 18 (APP):Federal Minister for Economic Affairs, Makhdum Khusro Bakhtyar Monday witnessed the signing ceremony of two agreements worth US$ 371.0 million with the World Bank to support projects in Agriculture and Social Sectors which was held in the Ministry of Economic Affairs. Federal Secretary, Ministry of Economic Affairs Mr. Noor Ahmed, signed the… Continue reading Khusro witnesses signing ceremony of $ 371.0 million agreement with WB

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Govt preparing innovative budget to deal with prevailing economic situation: Hafeez Shaikh

ISLAMABAD, May 18 (APP):Adviser to the Prime Minister on Finance and Revenue, Dr. Abdul Hafeez Shaikh said Monday that the government was ready to listen to all stakeholders to prepare an innovative budget for the upcoming fiscal year (2020-21) in accordance with the prevailing economic circumstances. The adviser was chairing a meeting here at the… Continue reading Govt preparing innovative budget to deal with prevailing economic situation: Hafeez Shaikh

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CDNS achieves net target of Rs185 b of current FY

ISLAMABAD, May 17 (APP):The Central Directorate of National Savings (CDNS) has achieved collection net target of Rs185 billion of current fiscal year (FY) by May 15, 2019-20. The CDNS has set Rs352 billion annual collection target for the year 2019-20 as compared to Rs324 billion for the previous year 2018-19 to enhance savings and promoting… Continue reading CDNS achieves net target of Rs185 b of current FY

Pakistan attains huge market for exporting local rice in global potential markets

ISLAMABAD, May 16 (APP):Prime Minister’s adviser on Commerce and Investment Abdul Razak Dawood on Saturday said that Pakistan had attained huge space in global rice market for exporting local rice in potential markets of Middle East, North America and African regions to achieve the target of increasing the agricultural exports. He said the government intended… Continue reading Pakistan attains huge market for exporting local rice in global potential markets

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Hafeez calls for fiscally responsible attitude as corona led impacts may distort country’s economic fabric

ISLAMABAD, May 15 (APP):Adviser to the Prime Minister on Finance and Revenue Dr Abdul Hafeez Shaikh Friday called for demonstration of fiscally responsible attitude as corona led impacts were expected to deeply distort economic fabric of Pakistan. He also called on all the federal ministries and divisions to have innovative and out of box brainstorming… Continue reading Hafeez calls for fiscally responsible attitude as corona led impacts may distort country’s economic fabric

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COVID-19 economic impact to reach US $ 8.8 trillion globally: ADB

ISLAMABAD, May 15 (APP):The global economy could suffer between US $ 5.8 trillion and US $ 8.8 trillion in losses—equivalent to 6.4 percent to 9.7 percent of global gross domestic product (GDP)—as a result of the novel coronavirus disease (COVID-19) pandemic. A new report released by the Asian Development Bank (ADB) on Friday titled, “Updated… Continue reading COVID-19 economic impact to reach US $ 8.8 trillion globally: ADB

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Khusro stresses on efficient economic relief to vulnerable segment in COVID-19

Govt ensuring urea supply to farmers at affordable rate: Khusro

ISLAMABAD, May 15 (APP):Federal Minister for Economic Affairs Makhdum Khusro Bakhtyar on Thursday stressed on efficient economic relief to the masses especially the vulnerable segment of society to mitigate the socio-economic impact of pandemic. The minister held a video conference with Governor State Bank of Pakistan Reza Baqir, at Ministry of Economic Affairs this afternoon.… Continue reading Khusro stresses on efficient economic relief to vulnerable segment in COVID-19

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Khusro appreciates IMF’s support of $ 1.386 billion under Rapid Financing Instrument to Pakistan

ISLAMABAD, May 14 (APP):The Federal Minister for Economic Affairs Makhdum Khusro Bakhtyar has thanked the IMF’s support of US$ 1.386 billion under the Rapid Financing Instrument to address the socioeconomic impact of the COVID-19 outbreak. Resident Representative of International Monetary Fund in Pakistan Ms. Teresa Daban Sanchez called on Federal Minister for Economic Affairs Makhdum… Continue reading Khusro appreciates IMF’s support of $ 1.386 billion under Rapid Financing Instrument to Pakistan

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Razak for economic, trade opportunities exploitation expected in post COVID-19 pandemic

ISLAMABAD, May 14 (APP):Prime Minister’s adviser on Commerce and Investment Abdul Razak Dawood Thursday stressed the need for making preparations to exploit the economic and trade opportunities expected in the wake of post COVID-19 pandemic. “We perceive and expect more opportunities to promote bilateral trade and strengthen linkage with potential markets including Central European Union,… Continue reading Razak for economic, trade opportunities exploitation expected in post COVID-19 pandemic

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Economy expected to grow by 2 percent next year: Hafeez Shaikh

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ISLAMABAD, May 14 (APP):With the current projections of negative 1.5 GDP growth rate owing to COVID-19 pandemic impact, the country’s economy would turn around to witness 2 percent growth in upcoming fiscal year (2020-21), Advisor to Prime Minister on Finance and Revenue, Dr. Abdul Hafeez Shaikh said on Thursday. Participating in a Webinar on “Pakistan… Continue reading Economy expected to grow by 2 percent next year: Hafeez Shaikh

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Govt making efforts to control economic losses: Razak Dawood

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FAISALABAD, May 14 (APP)::Adviser to Prime Minister on Commerce, Textile and Investment Abdul Razak Dawood has said that the government is making efforts to control the economic losses incurred by fragile national economy in the wake of coronavirus lockdown. Talking to office-bearers of Faisalabad Chamber of Commerce & Industry (FCCI) through video-link, he discussed in… Continue reading Govt making efforts to control economic losses: Razak Dawood

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ECC approves multi-billion package to boost agriculture, support farmers

ISLAMABAD, May 13 (APP):The Economic Coordination Committee (ECC) of the Cabinet Wednesday approved a multi-billion agriculture package to provide the farmers subsidy on fertilizers, reduce bank mark-up on agriculture loans, give subsidy on cotton seed and white fly pesticides in addition to sales tax subsidy on locally manufactured tractors. The ECC meeting was chaired by… Continue reading ECC approves multi-billion package to boost agriculture, support farmers

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Asad asks people to act in responsible manner to avert lockdown again

ISLAMABAD, May 12 (APP):Minister for Planning, Development and Special Initiatives Asad Umar on Tuesday warned that the government would have no option but to impose complete lockdown again if the people failed to act in a responsible and cautious manner in the wake of COVID-19. Addressing launching ceremony of corona relief Tiger Force activities in… Continue reading Asad asks people to act in responsible manner to avert lockdown again

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French Businessmen and Investors invited to invest in Special Economic Zones in Pakistan

ISLAMABAD, May 12 (APP):MEDEF, the largest business federation in France, Embassy of Pakistan in Paris and French Embassy in Islamabad, organized a webinar on investment opportunities in Pakistan. Minister of State and Chairman Board of Investment of Pakistan Atif R. Bokhari, in his key note speech, invited the French entrepreneurs, investors and businessmen to invest… Continue reading French Businessmen and Investors invited to invest in Special Economic Zones in Pakistan

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Hafeez Shaikh, Zaidi discuss maritime budget

ISLAMABAD, May 12 (APP):Advisor to Prime Minister Imran Khan on Finance and Revenue Dr Abdul Hafeez Shaikh Tuesday expressed the hope that the Ministry of Maritime Affairs would be able to fulfill all its requirements with the budget allocations for the upcoming fiscal year 2020-21. “The ministry shall be able to fulfill all requirements in… Continue reading Hafeez Shaikh, Zaidi discuss maritime budget

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Khusro appreciates ADB’s support to mitigate impact of COVID- 19

ISLAMABAD, May 12 (APP):Federal Minister for Economic Affairs, Makhdum Khusro Bakhtyar on Tuesday appreciated the support being provided by the Asian Development Bank (ADB) in the efforts of the Government of Pakistan to mitigate the socio-economic impact of the pandemic. Asian Development Bank (ADB)’s Country Director for Pakistan, Mrs Xiaohong Yang, called on the Federal… Continue reading Khusro appreciates ADB’s support to mitigate impact of COVID- 19

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Soomro reviews progress on privatization program with focus on priority transactions

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ISLAMABAD, May 12 (APP):Federal Minister for Privatization, Mohammedmian Soomro reviewed the progress on privatization program with special focus on some of the priority transactions and targets set for the Fiscal Year (FY) 2020-21. The meeting was also attended by Secretary Privatization Commission (PC) and other concerned officers to discuss the future Plan of action, said… Continue reading Soomro reviews progress on privatization program with focus on priority transactions

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TPB gives due consideration to budget proposal by different sectors :Razak Dawood

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ISLAMABAD, May 11 (APP):Advisor to the Prime Minister on Commerce Abdul Razak Dawood Monday said the budget proposals, forwarded by different stakeholders, would be given due consideration by the Tariff Policy Board (TPB) so that economy of the country could be revitalized at this difficult juncture. He was chairing the 8th meeting of the TPB,… Continue reading TPB gives due consideration to budget proposal by different sectors :Razak Dawood

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Hafeez favours debt rescheduling at G-20 forum, sees negative 1.5 pc growth in FY20

ISLAMABAD, May 11 (APP):Amid growth projections of negative 1 to 1.5 percent for Pakistan, Adviser to the Prime Minister on Finance and Revenue, Dr. Abdul Hafeez Shaikh said Monday that poorer countries genuinely need to be favoured through debt rescheduling at the G-20 forum to provide them relief to deal with Covid-19 (Coronavirus) challenges. “Pakistan’s… Continue reading Hafeez favours debt rescheduling at G-20 forum, sees negative 1.5 pc growth in FY20

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