Imran Ali Kundi

  • ISLAMABAD -  Pakistan’s import bill will once again enhance near to $50 billion during upcoming financial year 2017-18 mainly due to heavy imports of food commodities, machinery and oil products. Pakistan’s import bill is likely to reach $54 billion during outgoing financial year ...

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  • ISLAMABAD - The government took massive loan of $1.5 billion from commercial banks during May in order to sustain its foreign exchange reserves after repaying $750 million Eurobond debt. Pakistan has paid back $750 million Eurobond debt but only after receiving $1.5 billion loan from commercial ...

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  • ISLAMABAD -  The Federal Board of Revenue on Friday rejected the Joint Investigation Team (JIT) allegations that it was not providing complete record related to the Panama Papers case. “We have given all the available tax record to the JIT and never withheld any record,” said FBR ...

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  • ISLAMABAD - The Asian Development Bank (ADB) and Pakistan have signed $300 million loan agreement for the Public Sector Enterprises Reform Programme. Pakistan had secured $600 million loan from ADB in last few days, which would enhance the country’s foreign exchange that had started ...

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  • ISLAMABAD - Pakistan Peoples Party (PPP) has held the government responsible for heavy losses in Pakistan Stock Exchange (PSX) on daily basis. “Due to the inconsistent policies of government, investors are losing billions rupees in Pakistan Stock Exchange (PSX) on daily basis,” said PPP ...

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  • ISLAMABAD -  An inter-ministerial committee meeting on Tuesday recommended export of 0.6 million tons sugar without giving any subsidy. The committee headed by Commerce Minister Khurram Dastgir Khan has recommended the Economic Coordination Committee (ECC) to allow further 0.6 million tons ...

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  • ISLAMABAD - The government has appointed Shahid Mahmood, a BS-22 officer of Pakistan Administrative Service, as the finance secretary. “In pursuance of Establishment Division’s Notification No PF (431)/E-5(PAS), dated June 17, 2017, Shahid Mahmood, a BS-22 officer of Pakistan ...

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  • ISLAMABAD - The government on Saturday granted extension in the export period of wheat and wheat products beyond 15th March 2017 till 31st August 2017. The Economic Coordination Committee (ECC) of the Cabinet, which met here under the chair of Finance Minister Ishaq Dar, approved a proposal of the ...

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  • ISLAMABAD -  Pakistan would receive $623 million loan from Asian Development Bank (ADB), World Bank (WB) and the Agence Francaise de Development (AFD) in next few days. The loans would help Pakistan in building foreign exchange reserves, which had come down to $20.2 billion. The World Bank ...

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  • ISLAMABAD - The government has decided to revive Trade Development Authority of Pakistan (TDAP) and work aggressively on concluding Free Trade Agreement (FTAs) and revising Preferential Trade Agreements (PTAs) to explore new export markets. Pakistan’s exports have been tumbling for the third ...

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  • ISLAMABAD -  The government would revise the Strategic Trade Policy Framework (STPF), which has failed to enhance the country’s tumbling exports that resulted in massive trade deficit. Previously, the government had announced three years STPF with aim to enhance the country’s ...

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  • ISLAMABAD -  Opposition parties and business community have expressed concern over the widening of trade deficit that has surged to $30 billion during the 11 months of the ongoing financial year due to massive increase in imports and decline in exports. Pakistan’s trade deficit has ...

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  • ISLAMABAD - Pakistan’s trade deficit swelled to historic $29.99 billion during eleven months (July-May) of the ongoing financial year due to massive increase in imports and decline in exports. The trade deficit, gap between exports and imports, enhanced by 42.12 percent and reached $29.99 ...

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  • ISLAMABAD -  The government and Asian Development Bank (ADB) on Friday signed a loan agreement of $86.41 million for the extension of the Pehur High Level Canal in the Swabi and Nowshehra. ADB Country Director Xiaohong Yang, Economic Affairs Division (EAD) Secretary Tariq Mahmood Pasha and ...

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  • ISLAMABAD -  The finance ministry on Thursday rebutted allegations levelled by the Pakistan People’s Party (PPP) about the likely appointment of Atif Bajwa as Governor State Bank of Pakistan (SBP). PPP Senator Saleem Mandviwalla while expressing his reservations over the expected ...

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  • ISLAMABAD -  The Economic Coordination Committee (ECC) of the Cabinet on Wednesday decided for not deregulating the sugarcane prices after three provinces opposed the proposal of the federal government. The ECC considered and approved a proposal of Ministry of Industries & Production, ...

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  • ISLAMABAD - The Senate Standing Committee on Finance on Tuesday offered mediation between the Ministry of Finance and All Pakistan CNG Association (APCNGA) on the issue of outstanding amount of Rs12 billion on account of GIDC against the Compressed Natural Gas (CNG) stations. The committee proposed ...

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  • ISLAMABAD - The World Bank has projected Pakistan’s economic growth at 5.5 percent for the next financial year (2017-18). “Pakistan growth is expected to pick up to a 5.2 percent rate in fiscal 2017 (July 1, 2016 – June 30, 2017) and to 5.5 percent in the next fiscal year, ...

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  • ISLAMABAD - A parliamentary committee on Saturday proposed to increase civil servants salaries by 20 per cent, and to cut the budgets of the president and the prime minister’s houses by 30 per cent and 15 per cent respectively in the budget before its approval from the parliament. The Senate ...

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  • ISLAMABAD -  The federal government has drastically reduced the subsidies amount by 13.4 percent during first nine months (July-March) of the ongoing financial year on the pressure of international monetary fund (IMF). The federal government had cut the subsidy amount by 13.4 percent to ...

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  • ISLAMABAD -  Pakistan’s inflation rate has gone to 5 percent during May due to increase in oil and commodities prices in the country ahead of Ramazan. The inflation is measured through Consumer Price Index (CPI), which tracks prices of around 480 commodities every month, has increased by ...

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  • ISLAMABAD - The government’s policy of borrowing is continuing, as it added another $491.8 million in the country’s growing debt during April 2017. With the inflow of $491.8 million in last month, Pakistan’s external borrowing has surged to $5.8 billion during ten months ...

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  • ISLAMABAD - Finance Minister Ishaq Dar on Saturday invited all political parties to evolve consensus on his ‘Vision 2018-23’ and draw a Charter of Economy to achieve higher, inclusive and sustainable growth in next five years. “This is the best time for political parties before ...

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  • ISLAMABAD -  The government has drastically reduced subsidies by 17.8 percent for the next financial year 2017-2018 as compared to the outgoing fiscal year, which is likely to increase inflation in the country. The government has allocated only Rs138.8 billion for the FY2017-2018 as against ...

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  • ISLAMABAD -  Pakistan would once again borrow massively of Rs837.8 billion from external sources in the next financial year 2017-2018. The government has estimated foreign assistance of Rs837.8 billion for 2017-2018 as compared to revised estimates of Rs996.287 billion of the outgoing fiscal ...

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  • ISLAMABAD - The Pakistan Muslim League-Nawaz (PML-N) government has introduced taxation measures worth Rs120 billion in the annual budget to achieve the mammoth tax collection target of Rs4,013 billion in the next financial year 2017-18. The federal government has proposed tax collection target for ...

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  • ISLAMABAD - The federal government would transfer Rs2.38 trillion to four provinces under the National Finance Commission (NFC) Award in the upcoming financial year 2017-18. The government has made the budget 2017-18 on the basis of 7th NFC Award, as it failed to constitute a new revenue-sharing ...

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  • ISLAMABAD - The government has missed a number of economic targets but the finance minister is happy with what has been achieved under his stewardship. The federal government failed to achieve the growth target of 5.7 percent in the outgoing fiscal year, as real gross domestic product (GDP) grew by ...

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  • ISLAMABAD - The government has given tax exemptions worth Rs415.8 billion during ongoing financial year 2016-17. Pakistan's tax expenditures in the form of exemptions have been recorded at Rs415.8 billion during the ongoing financial year 2016-2017 as against Rs394.6 billion of the previous fiscal ...

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  • ISLAMABAD - The Pakistan Muslim League-Nawaz (PML-N) government would present its fifth budget for the next financial year 2017-18 on Friday (today) with an estimated outlay of Rs4.8 trillion and a deficit of 4 percent of the gross domestic product (GDP). Finance Minister Ishaq Dar would present ...

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