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Tag Archives: Finance Minister

Germany: Cheap money shouldn’t stop reforms in euro zone

Wolfgang-Schaeuble

BERLIN: Wolfgang Schaeuble, German Finance Minister expressed his reservations against the European Central Bank launching a bond buying stimulus programme and praised Bundesbank president Jens Weidmann’s arguments against such moves. Schaeuble said The ECB can make its decisions independently. But cheap money should not be allowed to dent the reform zeal in some countries. There is no alternative to structural ... Read More »

Taiwan: Finance minister opposes rising capital gains tax threshold to $31.45m

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TAIPEI: Taiwan finance minister Chang Sheng-ford said Wednesday that he sees no need to raise the taxation threshold for a capital gains tax targeting major players in the local stock market. Chang told lawmakers that the current low turnover in the local bourse reflects weak confidence in the market and fears over volatility in global equity markets but has nothing ... Read More »

KCCI to send rejoinder to PM, Finance Minister to set up ports, shipping authority

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KARACHI: The Karachi Chamber of Commerce and Industry (KCCI) is in a process to send a rejoinder to Prime Minister Nawaz Sharif and Finance Minister Ishaq Dar for the earliest establishment of an authority to regulate the ports and shipping sector. Talking to Customs Today, the chairman of KCCI’s Sub-Committee on Ports, Shipping and Multi-modal Transport Asif Nisar Vohra, has ... Read More »

$35b agri products imports: Dar seeks plan to grab Pak share in $16b Russian imports

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ISLAMABAD: Russia has been importing food items worth $35 billion particularly Europe, and current EU curbs on imports is creating a space of $16 billion which should be captured and exploited through the exports of Pakistan products. “Pakistan want definitely needs a handsome share in this available market”, declared Finance Minister Ishaq Dar while chairing a meeting here. Mr Dar ... Read More »

Ishaq Dar secures $2b credit from Russia for PSM rehabilitation, energy sector

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MOSCOW : Finance Minister Ishaq Dar while talking to prominent Russian TV channel Russia Today (RT) and other media here reiterated his proposal for upper capping of oil prices, helping underdeveloped and developing countries to effectively manage their oil bills which can have positive impact on their economies. The Minister said, he had put forth this proposal earlier in 2008 ... Read More »

6.86pc overall decline: Textile exports fall 1.54pc to $4.6b against $4.7b

textile

ISLAMABAD: Crippling energy crisis and uncertain political scenario pushed the country’s textile exports by 1.54 percent during July-October (Four months) of the financial year 2014-15. The textile exports stood at $4.6 billion during July-October 2014-2015 as against $4.7 billion in the corresponding period last year, showing a decline of 1.54 percent, according to the Pakistan Bureau of Statistics (PBS). After ... Read More »

Return filing extended to Dec 5: FBR exempts penalty on late submissions

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ISLAMABAD: The Federal Finance Minister Ishaq Dar has decided that the taxpayers who file their returns for tax year 2014, by or before 5th December, 2014  should be exempted from payment of penalty for late filing of return and default surcharge for late payment of tax. It is worthy to note that Customs Today had predicted that FBR would extend the ... Read More »

In a meeting with Dar, USAID hints at bring $43m investment in energy sector

USAID

ISLAMABAD: The USAID attaches great importance to the development of Pakistan and that it will be bringing in investment to the tune of $43 million in energy sector in Pakistan. USAID Assistant Administrator for AfPak Affairs Donald Larry Sampler stated this during a meeting with Finance Minister Ishaq Dar here. He was accompanied by US Ambassador in Pakistan Richard G ... Read More »

Flawed load management plan, Finance Ministry overstepped Petroleum Ministry’s domain: PEW

Dr Murtaza Mughal

ISLAMABAD: The government’s electricity and gas load management plan which prefers textile sector to the masses is flawed and faulty besides showing a major policy shift aims at pleasing the influential textile sector. But it will hardly work for a month only. Pakistan Economy Watch (PEW) Dr Murtaza Mughal pointed out that the government’s new plan for energy load management ... Read More »

Inflation lowest in Oct: Dar eyes 5.1pc GDP growth as 4.14pc achieved

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ISLAMABAD: Federal Finance Minister Ishaq boasted that inflation for October was the lowest over the past 17 months at 5.8pc, saying that the government was striving to take GDP growth rate to 5.1 percent from current 4.14 percent. The government, due to its better policies, has already raised GDP growth to 4.14 percent which also reflects the commitment to stablise ... Read More »

Ishaq Dar takes report from SBP Governor

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ISLAMABAD: Finance Minister Ishaq Dar met with SBP Governor Ashraf Mehmood Wathra and took progress report about performance of the Banking Sector in the last quarter. Discussion was also held on the state of forex reserves in the country. The Finance Minister on this occasion emphasized the need for all out efforts to achieve the target of forex reserves stipulated ... Read More »

Govt wants tax-to-GDP at 15%, deficit down to 4.7%: Dar

Dar

ISLAMABAD: Pakistani Constitution guarantees fundamental human rights and the present government attaches great importance to implementation of all relevant laws and regulations which safeguards these rights. Finance Minister Senator Mohammad Ishaq Dar stated this while talking to European Union Special Representative on Human Rights Stavros Lambrinidis and EU Ambassador Lanrs-Gunnar Wigemark who called on him here. On the occasion, the ... Read More »

4500MW Bhasha dam smartest choice to overcome energy crisis: US

Dan-Feldman

ISLAMABAD: US Special Representative for Pakistan and Afghanistan Daniel Feldman says his country looks forward to further expanding trade and economic relations with Pakistan. In an interview, he said we are moving from aid-based relationship to the one based on trade and investment. Feldman said hydro power projects, like Diamer Bhasha Dam, are among the smartest choices for Pakistan to ... Read More »

Govt wants tax-to-GDP at 15pc, deficit down to 4.7pc: Dar

Dar

ISLAMABAD: Pakistani Constitution guarantees fundamental human rights and the present government attaches great importance to implementation of all relevant laws and regulations which safeguards these rights. Finance Minister Senator Mohammad Ishaq Dar stated this while talking to European Union Special Representative on Human Rights Stavros Lambrinidis and EU Ambassador Lanrs-Gunnar Wigemark who called on him here. On the occasion, the ... Read More »

Great scope of investment in energy, telecom, oil & gas sectors: Dar

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ISLAMABAD: Finance Minister Ishaq Dar has emphatically stated that no obstacles will be tolerated in the way of investment in the country. Addressing the international investment conference in Islamabad, he said the economy has again been put on the track after the setbacks caused by the sit-ins. He said the government will meet its medium and long term development plans ... Read More »

Investment-to-GDP ratio to be raised to 20%: Dar

Dar

ISLAMABAD: Finance Minister Ishaq Dar has emphatically stated that no obstacles will be tolerated in the way of investment in the country. Addressing the international investment conference in Islamabad, he said the economy has again been put on the track after the setbacks caused by the sit-ins. He said the government will meet its medium and long term development plans ... Read More »

Govt to launch Islamic bonds, divest shares of OGDCL: Dar

Dar

ISLAMABAD: Finance Minister Ishaq Dar has emphatically stated that no obstacles will be tolerated in the way of investment in the country. Addressing the international investment conference in Islamabad, he said the economy has again been put on the track after the setbacks caused by the sit-ins. He said the government will meet its medium and long term development plans ... Read More »

FBR to take action against 200 corrupt officials

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KARACHI: On the orders of Prime Minister and Finance Minister, Federal Board of Revenue (FBR) has started a drive against corrupt officials to wipe out criminal elements from the revenue authority for increasing tax collection Sources said that FBR has ordered all the field offices to complete disciplinary proceedings in seven days against officials involved in corruption and misconduct. Finance ... Read More »

ECC allows 185,000 tons urea import, approves Rs 529m for Steel Mills

Dar ECC meeting

ISLAMABAD: The Economic Coordination Committee (ECC) of Cabinet on Friday decided to import 185,000 tons of urea fertilizer and approved enhancement in the financial package of the Pakistan Steel by Rs 529 million to cover the expenses on 5pc duty on import of iron ore. The Ministry of Industries and Production briefed the ECC that country would face shortfall of ... Read More »

Tax Reform Commission

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Finance Minister Ishaq Dar has approved the formation of a Tax Reform Commission to review customs tariff and rationalise direct and indirect taxes prevailing in the country. The business community had been demanding the establishment of the commission for a long time to introduce tax reforms and simplify the tax system. The proposed commission will examine the structure of the ... Read More »