ECC approves Mobile Device Manufacturing Policy

ISLAMABAD, May 21 (APP):The Economic Coordination Committee (ECC) of the Cabinet Thursday approved Mobile Device Manufacturing Policy to promote local manufacturing and assembly of mobile phone handsets. The policy approved in a meeting of the ECC chaired by Adviser to the Prime Minister on Finance and Revenue, Dr. Abdul Hafeez Shaikh, aimed at ensuring localisation… Continue reading ECC approves Mobile Device Manufacturing Policy

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Hafeez Shaikh lauds US support for FATF, COVID-19, G-20 debt relief

ISLAMABAD, May 21 (APP):Adviser to the Prime Minister on Finance and Revenue Dr. Abdul Hafeez Shaikh Thursday appreciated the support extended by the United States in Financial Action Task Force (FATF), COVID-19 and in getting debt relief from the G-20 countries. “We value our relationship with the US, particularly the business collaborations which have a… Continue reading Hafeez Shaikh lauds US support for FATF, COVID-19, G-20 debt relief

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Govt released Rs287.289 mln for petroleum projects in 11 months

ISLAMABAD, May 21 (APP):The government has released funds amounting to Rs287.289 million during the first 11 months of the current fiscal year to execute seven petroleum projects under the Public Sector Development Programme (PSDP 2019-20) against the total allocation of Rs 304.997 million. According to the official data as May 16 that showed a slight… Continue reading Govt released Rs287.289 mln for petroleum projects in 11 months

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Budget proposals sent by ICCI to be given due consideration:FBR

ISLAMABAD, May 21 (APP):Chairperson Federal Board of Revenue Nausheen Javed Amjad Thursday said that budget proposals sent by Islamabad Chamber of Commerce and Industry (ICCI) would be given due consideration as they would be helpful in finalizing the Federal Budget 2020-21. She said this while talking to Muhammad Ahmed Waheed, President, Islamabad Chamber of Commerce… Continue reading Budget proposals sent by ICCI to be given due consideration:FBR

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Trade, Investment officers in embassies to be tasked to lure foreign investment in FIEDMC: Razak Dawood

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ISLAMABAD, May 20 (APP):Advisor to the Prime Minster on Commerce and Investment Abdul Razak Dawood Wednesday said trade and investment officers in Pakistan’s missions abroad will be given special tasks for marketing to bring maximum investment in Allama Iqbal Industrial City, a prioritized Special Economic Zone of Faisalabad Industrial Estate Development and Management Company (FIEDMC)… Continue reading Trade, Investment officers in embassies to be tasked to lure foreign investment in FIEDMC: Razak Dawood

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Pakistan will not go for commercial loans’ refinancing, Shaikh tells ECC

ISLAMABAD, May 20 (APP):Adviser to the Prime Minister on Finance and Revenue Dr. Abdul Hafeez Shaikh stated unequivocally on Wednesday that Pakistan had no intention of seeking any kind of relief for repayment of its commercial loans or borrowings. “Pakistan has the means and will to honor its commercial commitments,” the advisor said while chairing… Continue reading Pakistan will not go for commercial loans’ refinancing, Shaikh tells ECC

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Pakistan’s earns US $427 million from travel services’ export

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ISLAMABAD, May 20 (APP):Pakistan earned US $ 427.024 million by providing different travel services in various countries during the first three quarters of the ongoing fiscal year 2019-20. This shows growth of 33.42 percent as compared to US $ 320.070 million same services were provided during the corresponding period of fiscal year 2018-19, Pakistan Bureau… Continue reading Pakistan’s earns US $427 million from travel services’ export

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Measures to bring investments into country discussed

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ISLAMABAD, May 19 (APP):Adviser to the Prime Minister on Finance and Revenue Dr. Abdul Hafeez Shaikh Tuesday chaired a meeting to discuss measure that could facilitate the investors to bring in more investment to the country to boost up the country’s pace of development. During the meeting, Chairman Board of Investment (BoI), Atif R. Bokhari… Continue reading Measures to bring investments into country discussed

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Razak Dawood for perusing ‘Make in Pakistan Policy’ after COVID-19 pandemic

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ISLAMABAD, May 19 (APP):Prime Minister’s adviser on Commerce and Investment Abdul Razak Dawood on Tuesday said the government has prioritized to more concentrate on perusing the “Make in Pakistan Policy” in current challenging situation after emergence of COVID-19 pandemic to increase local exports in international markets. “We are fully prepared to exploit the economic and… Continue reading Razak Dawood for perusing ‘Make in Pakistan Policy’ after COVID-19 pandemic

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No new taxes in coming budget to check contraction of economy: Hafeez

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ISLAMABAD, May 19 (APP):Adviser to Prime Minister on Finance and Revenues Abdul Dr Abdul Hafeez Shaikh Tuesday said that the government would not impose any new taxes in the upcoming budget for the fiscal year 2020-21 to facilitate the industry and help check contraction of economy. “No new taxes would be introduced in the upcoming… Continue reading No new taxes in coming budget to check contraction of economy: Hafeez

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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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