Price of Petrol reduced by Rs. The Finance Minister Senator Mohammad Ishaq Dar met with Prime Minister Nawaz Sharif, this afternoon, to discuss the prices of petroleum products for the month of March, in light of the recommendations made by OGRA. OGRA had determined that the prices, with effect from 1st Marchof HOBC be increased by Rs. It was also determined to decrease the price of petrol by Rs.

Finance Minister briefed the Prime Minister that if the petroleum prices are maintained at the level of 1st February, except petrol price, the subsidy to be picked up by Ministry of Finance will be less than a billion rupees for the month of March In order to maintain price stability in the country, the Prime Minister decided to maintain the existing prices except petrol where the benefit of decrease of Rs.

The Prime Minister of Pakistan had announced on November 28, a package for promoting tax culture, investment in industry and revival of economy.

The package included immunity from audit, default surcharge and penalty for NTN holders who did not file some or all income tax returns for the last five years provided they file their missing income tax returns and pay a minimum of Rs. Similar immunity from audit, default surcharge and penalty was extended to non-NTN holders as onhaving taxable incomes, provided they pay tax at a minimum of Rs.

Such Return filers will enjoy immunity from audit also for equal number of subsequent tax years for which they have filed returns for past years. The last date for filing returns under this package is 28th February, Meeting of the Economic Coordination Committee ECC of the Cabinet was held under the chairmanship of the Finance Minister.

Secretary Law informed the ECC that in the light of 18th Amendment, the Article 90 1 of the constitution lays down that the Executive Authority of the Federation shall be exercised in the name of President by the Federal Government, consisting of the Prime Minister and the Federal Ministers, which shall act through the Prime Minister, who shall be the Chief Executive of the Federation.

The Sub-article 90 2 says that in the performance of his function under the Constitution, the Prime Minister may act either directly or through the Federal Minister. The Petroleum Secretary was of the opinion that it has been the practice followed in the past that this issue has been brought to the ECC and the nature of the project is such that it is of paramount importance to meet the urgent energy needs of the country. He added that it was after due diligence and confirming to all reasonableness on international and regional parameters the Petroleum Ministry is satisfied that the project is a good deal and worth putting on fast track in order to meet the existing shortfall of gas in the country.

In the light of the detailed discussion, the ECC decided, to approve the proposal in principle, subject to completion of all formalities as indicated by the Law Division and thereafter approval of the Prime Minister. The meeting was also attended by Mr. Zahid Hamid, Minister for Science and Technology, Mr.

Shahid Khaqan Abbasi, Minister for Petroleum and Natural Resources, Senator Pervaiz Rashid, Minister for Information, Broadcasting and National Heritage, Mr. Sikandar Hayat Khan Bosan, Minister for National Food Security, Mr.

Ghulam Murtaza Khan Jatoi, Minister for Industries and Production, Chairman BOI, Mr. Miftah Ismail, Chairman Privatization Commission, Mr. Muhammad Zubair and senior officials of the government.

Finance Minister chairs meeting of committee to examine trade with India. Federal Minister for Finance, Senator Mohammad Ishaq Dar chaired a meeting of Committee to examine trade with India at the Finance Ministry today.

He briefed the Committee on the pros and cons of normalization of trade relations with India and the benefits Pakistan will accrue in export of textile and manufacture goods. He also informed the Committee that all stakeholders have been taken into confidence and concerns of our industry will be addressed in the process.

Finance Minister said that it should be ensured that all the concessions are on reciprocal basis and concerns of our industry should be taken care in the future arrangement. He said that import from India should substitute our import from other countries which will save valuable foreign exchange.

The Committee will present its detailed report to the Cabinet for consideration. SAPM on Foreign Affairs, Mr. Tariq Fatmi, Chairman FBR, Tariq Bajwa, Mr. Zafar Mehmood former Secretary Commerce, Chairman Nestle Pakistan, Syed Yawar Ali, Advisor to Finance Ministry, Rana Asad Amin and senior officials of the concerned ministries also attended the Committee meeting.

Pakistan provides immense business potential for International Investors: The Finance Minister briefed the investors about the business opportunities available in the multiple sectors. He said that Pakistan is the most attractive place for investment and the business potential is immense for international investors.

He said that the energy sector and hydro carbon exploration are the priority areas as the country needs to meet its energy requirements. He said that the international investors will be facilitated on the fast track to do businesses in the country. He added that it will be win-win for both Pakistan which needs FDI and the international investors who are looking for reasonable returns to their investments.

Ambassador Javed Malik informed the Finance Minister that the Group had very useful meetings in Pakistan and the idea is to bring together a group of investors for investment in development of energy sector as an engine of growth.

Richard Quessnal, Chairman, Colt Resources Inc. He added that Colt Resources will built on the partnership from generation to generation and focus on transfer of technology to Pakistan.

The Investors, in their comments, said that the general message they received in Pakistan is positive and they are impressed by the investment opportunities in the country.

They added that they want to be true partners with Corporate Social Responsibility are looking forward to harness the opportunities available in the Country. Alun Richards, Chief Investment Office, Mr. Shahal Khan, Royal Partners Energy, Mr. Nicolas Perrault Director Calvalley Petroleum, Mr.

Pedro Costa, Managing Director, Mr. Yazit yusuff, Head of Capital Markets, RHB Islamic Bank, Haji Malik Shah, Colt Resources, Mr. Ambassador of Kingdom of Norway Ms. Cecilie Landsverk called on the Federal Minister for Finance, Senator Mohammad Ishaq Dar at the Ministry of Finance this evening. Landsverk congratulated the PML-N Government for taking the positive steps for the growth and development of the economy of Pakistan.

She appreciated the transparent and prudent policies of the government for taking the economy in the right direction. She further said that she expects that the Norwegian Telecom Company operating in Pakistan will take keen interest in this bid to acquire the licenses.

The Federal Minister for Finance Senator Mohammad Ishaq Dar said that government is committed to ensure transparency at every step of the auction process. Government has tried to accommodate the concerns of all parties in the final policy directive. The Information Memorandum has already been uploaded on the PTA website. The meeting was also attended by senior officials of the Finance Ministry.

ECC expresses satisfaction over positive trends in Key Economic Indicators. The Finance Secretary presented a review of the key economic indicators. The ECC was informed that there are positive trend in the key economic indicators.

The large scale manufacturing sector has witnessed a growth of 6. Fertilizer sector has shown a growth of The ECC was informed that year-on-year inflation rate based on Consumer Price Index CPIWhole Price Index WPI and Sensitive Price Index SPI for the month of January remained at 7. He informed ECC that the reported stock of wheat as on February is 2. The total reported stock of sugar stood at 2. Finance Minister observed that the foreign exchange reserves are stable and improving gradually, which is a healthy sign for the economy.

He said that, by the Grace of God, we would be able to achieve a target of foreign exchange reserves in double figures by the end of March this year.

He said that in his last meeting with IMF, they also observed that GDP growth rate is getting better even more than their expected target. He said that with the significant increase in FBR collection, he expects that the provinces would get Rs.

He hoped that the provinces would be able to invest more in agriculture sector. He also directed the Secretary, Ministry of Food Security to expedite National Agriculture Policy so that Pakistan would be able to utilize huge potential in this sector. The ECC also approved summary of the Ministry of Petroleum and Natural Resources for resumption of POL supplies at six Non-Internal Freight Equalization Mechanism IFEM Oil Depots subject to the following:.

The location of oil depots where POL supplies will be resumed include Daulatpur, Khuzdar, Sangi, Habibabad, Kundian and Serai Naurang.

By opening of the above depots, MT storage capacity will be available in the system. The Finance Minister directed Secretary, Ministry of Commerce, FBR and SBP to hold a meeting with all the stakeholders and bring proposals and recommendations to ensure export of gold jewelry to the extent of the gold imported for value addition. The meeting was also attended by the Minister for Petroleum and Natural Resources, Mr.

Zahid Hamid, Minister for Planning, Development and Reform, Mr. Ahsan Iqbal, Minister for Industries and Production, Mr. Ghulam Murtaza Khan Jatoi, Minister for National Food Security, Mr.

Sikandar Hayat Khan Bosan, Secretaries of the concerned ministries and senior officials of the government. The Federal Minister for Finance Senator Mohammad Ishaq Dar informed the Parliamentarians that Nishtar Kidney Center will soon be equipped with the relevant apparatus on priority basis.

The Finance Minister said that the development of FATA and other backward areas is the priority of the government and all steps will be taken to ensure smooth release of fund for projects in their agencies. He assured them of his full cooperation in the matter. Finance Minister urges early completion of Developmental Projects undertaken by Pakistan in Afghanistan. Director General, Frontier Works Organization FWOMaj. Afzal called on Finance Minister Senator Mohammad Ishaq Dar here today.

The Director General informed the Finance Minister that FWO has capacity, competence and human resource available to successfully undertake construction related projects in foreign countries. He informed the Finance Minister that there are opportunities for FWO to undertake projects in UAE, Saudi Arabia, Iraq and Yemen in order to earn valuable foreign exchange for the country.

He said that FWO has huge potential to work even in hard areas where other international companies are reluctant to go. He added that to undertake foreign projects FWO would need sovereign guarantees and opening of foreign exchange accounts in terms of US dollars. He requested the support of the SBP and the Finance Ministry in this regard.

The Finance Minister appreciated the developmental projects undertaken by the FWO and said that recently he has visited various FWO projects including construction of Torkham-Jalalabad Highway in Afghanistan. The Finance Minister added that we must put Nishtar Kidney Centre Jalalabad on fast track. The Finance Minister assured the Director General that all issues related to their foreign undertakings will be reviewed sympathetically after submission and study of formal case accompanied by feasibility studies of the proposed projects by the FWO.

He also assured the Director General that the government will facilitate FWO after consultation with all stakeholders and examining legal and constitutional requirements in this regard. The meeting was also attended by Finance Secretary, Advisor on Finance and senior officials of the Finance Ministry.

Federal Government to take additional measures to improve gas supplies for Fertilizer Sector: Managing Director MD and Chief Executive of Fauji Fertilizer Company FFC Limited Lt. Retd Naeem Khalid Lodhi called on the Finance Minister Senator Mohammad Ishaq Dar today at the Finance Ministry. The MD requested the Finance Minister that there is still considerable capacity available in the industry which could be brought on stream by further improvement in the gas supply. He said that with the addition of Rs.

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The Finance Minister appreciated the contribution of the FFC in this regard and assured that the government is taking additional measures to improve gas supplies for the fertilizer sector. He acknowledged the positive role played by FFC in stabilizing the price of Rs. He emphasized that the farmers should get benefit of their hard work. The Finance Minister expressed his concern on the reports that fertilizer, at some places, is being sold at prices higher than those fixed by the companies as per the decision of the meeting on January 10, He remarked that he will soon write to all the Chief Ministers of the provinces urging them to alert provincial authorities to ensure that dealers will not charge anything beyond the company fixed price.

The Finance Minister thanked the MD FFC and other fertilizer companies for their understanding and cooperation. The meeting was also attended by Federal Secretaries of Finance, Petroleum and Natural Resources, Advisor on Finance and senior government officials. Senator Ishaq Dar meets Governor Balkh - Afghanistan. In his meeting with the Governor Balkh, Atta Mohammad Noor, the Minister reiterated Pakistan's desire to further promote and strengthen cordial and brotherly relationship with Afghanistan.

He said that Pakistan wanted good relationship with the people from all parts of Afghanistan without having any favourite. Governor Atta Mohammad Noor said that Pakistan was a major regional power and Afghanistan wanted it to play its role in the promotion of peace and development of Afghanistan.

The engineering university was handed to the Afghan government over last year and currently students were studying in the university. The Governor Balkh, the Finance Minister of Afghanistan, Dr. Omar Zakhilwal, leaders of Provincial Council and heads of various government departments were present during the visit of the Finance Minister to the University.

Chancellor of the University gave a detailed briefing to the Minister about the University, saying it would contribute a lot to the educational development of Afghanistan. The Governor of Balkh also hosted a lunch in the honour of Pakistani delegation which was attended by a large number of dignitaries of the Balkh Province. Joint Statement Pakistan-Afghanistan Joint - Economic Commission Kabul February The Inaugural Session was co-chaired by Dr.

Omar Zakhilwal, Minister for Finance, Islamic Republic of Afghanistan and Senator Mohammad Ishaq Dar, Minister for Finance, Revenue, Economic Affairs, Statistics and Privatization, Islamic Republic of Pakistan. Addressing the inaugural session, Minister Zakhilwal said: Joint projects such as CASA can play an important role in bringing peace and stability into the region and beyond. Pakistan's Finance Minister Senator Mohammad Ishaq Dar called for enhancing bilateral trade, extending the transit trade to Tajikistan, early completion of ongoing projects funded by Pakistan, visa facilitation for Pakistani businessmen and labour.

During his stay in Afghanistan, Senator Mohammad lshaq Dar, Minister for Finance, Revenue, Economic Affairs, Statistics and Privatization accompanied by Minister Zakhilwal also called on Hamid Karzai, President of Islamic Republic of Afghanistan. The status of various development projects being undertaken in Afghanistan with the financial assistance of Pakistan was also reviewed in detail. Both the Co-Chairs addressed the concluding ceremony, signed the agreed minutes of the session and addressed a Joint Press Conference.

The Afghan Government, on its part, agreed to expedite provision of electricity to the projects. Both sides agreed to further discuss issues involving "Avoidance of Double Taxation" treaty at the earliest. In addition to attending the JEC Session at Kabul, both the Ministers also visited major projects constructed by Pakistan under its bilateral assistance program including recommencement of works on Torkham - Jalalabad additional carriage way, Nishtar Kidney Centre in Jalalabad and the Liaqat Ali Khan Engineering Faculty of Balkh University in Mazar-i-Sharif.

Finance Minister Dar also visited the under construction Rehman Baba School and Hostel in Kabul which would accommodate up to students. Minister of Border and Tribal Affairs Dr. Akram Khpalwak welcomed the Minister during the visit to the School.

Both the Finance Ministers also met the Governors of Nangarhar and Mazar-i- Sharif and attended official luncheons hosted in their honour during visit to the two provincial capitals. Finance Minister chairs meeting in FBR to review revenue collection targets. He also briefed the Minister about the progress on revenue collection and said that FBR is working towards achievement of the assigned targets. Federal Minister for Finance, Revenue, Economic Affairs, Statistics and Privatization Mohammad Ishaq Dar expressed satisfaction over the revenue collection performance of FBR for the month of January He urged FBR to keep up the momentum, so that the revenue collection target of Feb is also met.

Chairman FBR informed that these cards would be handed over to the highest tax payers in March It was agreed that the development facets of the Shrine Complex may be segmentized to speed up its completion as directed. CDA management, during the course of briefing, informed the meeting participants on structural upgradation and beautification of the internal and external dimensions of the Bari Imam complex.

It was explained that marble flooring work has already been completed and final finishing is underway. Finance Minister directed the ICT and CDA management to ensure that entire structure, after completion, should have durability since it is a public place and merits attention to all structural and beautification details.

Finance Minister chairs meeting to review 8th Session Of Pak-Afghanistan Joint Economic Commission's decisions.

The Minister further directed all the stakeholders to clearly draw a road map and time line agreed between the relevant counterparts of two governments, adding that all federal government organizations should ensure implementation of bilaterally agreed projects in Afghanistan expeditiously. Secretary EAD intimated that so far 15 decision items have been implemented and implementation on the remaining items stands sped up. CEOs of the mobile companies met the Advisory Committee for Spectrum Auction.

CEOs of the mobile companies operating in Pakistan met the Spectrum Auction Committee under the chairmanship of Federal Minister for Finance Senator Mohammad Ishaq Dar at the Finance Ministry today.

The operators shared their views and gave valuable feedback regarding introduction of latest technologies in relation to forthcoming spectrum auction. The committee informed the operators that Information Memorandum IM will be issued shortly. The IM is being prepared by international professional consultants keeping in view the objectives of promoting technological growth, fostering competition in the sector and getting the best value of the scarce national resource of spectrum.

The meeting was attended by Federal Minister for Science and Technology Mr. Zahid Hamid, Minister of State for Information Technology Ms. Anusha Rehman Khan and senior officials of the Ministry of Finance, Ministry of IT and PTA.

Finance Minister directs restoration of Gas Supply to Export-Oriented Industry from next Friday Federal Minister for Finance Senator Mohammad Ishaq Dar today chaired a meeting to review restoration of gas to export-oriented industry on urgent basis in Ministry of Finance here today. The meeting was attended by Minister for Petroleum and Natural Resources, Mr.

Shahid Khaqan Abbasi, MD SNGPL and senior officials from Ministry of Petroleum and Ministry of Finance. The meeting participants reviewed existing provision of gas to export-oriented industry and noted that with improved weather conditions a revised gas load management plan was possible which enabled the SNGPL to restore gas supply to industry from next Friday The decision was taken to readdress the national economic growth related issues which did have sizeable contribution from export-oriented industry in the country.

The SNGPL management briefed the Minister that with improved weather conditions and availability stock trading stop limit demand driven savings, how to exchange foreign currency at wells fargo was possible for the company to ensure restoration of gas supply to the export-oriented industry from next Friday.

Finance Minister chairs meeting of For bse stock market crash 2016 obamacare Auction Advisory Committee. A meeting of the Spectrum Auction Advisory Supervisory Committee was held under the chairmanship of Finance Minister Senator Mohammad Ishaq Dar bike market rostock innenstadt the Finance Ministry, this evening.

Shahid Hamid, Minister for Science and Technology, Ms. Anusha Rehman, Minister of State for Information Technology, Syed Ismail Shah, Chairman Pakistan Telecommunication Authority, Mr.

Ikhlaq Tarrar, Secretazry I. The consultants hired by PTA for the purpose of auction briefed the meeting about their analysis of paksitani markets and draft information memorandum which is to be issued soon. Finance Minister directs finalization Of Youth Business Loan Applications by end February, Federal Finance Minister Senator Mohammad Ishaq Dar today held a interactive brokers option cost meeting regarding Youth Business Loan Scheme at State Bank of Pakistan Office Karachi.

The Finance Minister was briefed about the statistics of application forms which have been completely evaluated as per laid down procedure, followed by the rejected ones and the reasons brief history of karachi stock exchange pakistan. Senator Ishaq Dar urged the concerned officials to finalize the processing of application forms by end of this month.

During the meeting the statistics of female applicants were highlighted, which the Minister described as under-represented. The Minister directed the concerned officials that the current number of forms did not fulfill the allotted women quota of 50 per cent and needed to be reviewed to address quota requirement.

These should not be re-allotted to other provinces, he directed. Finance Minister Launches Secondary Market Trading Of Government Debt Securities through KSE In Karachi. The Finance Minister, Mr. In his speech at the launching ceremony the Finance Minister stated that this is the first time in the history of Pakistan motor trade insurance stockport investing and trading in Government securities through the capital market has been initiated.

This is the first step towards developing a thriving and deep debt capital market which plays a pivotal role in sourcing long term finance for both public and private sectors of Pakistan.

That is the focus of his Government. Ishaq Dar said that even when he was in the opposition he always voiced his concern that consumption led growth was unsustainable and it put even more burden on the economy. The Finance Minister pointed out that investment-led growth entailed building up the basic infrastructure of the country, which was in dire need of improvement.

Ishaq Dar said that these are mega-scale, core development initiatives that required large, long term financing to the tune of US dollars billion per annum for the next ten years or so. It is therefore important to develop a broad spectrum of long-term funding sources.

He noted that while the public equity market in Pakistan is reasonably well developed, the debt forex training dvd in hindi market is not. The Finance Minister highlighted that the equity market in Pakistan has shown consistent superior performance in recent years. The equity market performance is reflective of how the listed companies are doing in terms of financial health and their future outlook.

In this regard he revealed that the Government is planning to set up a Pakistan Infrastructure Fund as a central point for future long term infrastructure funding. Ishaq Dar stated that for individual savers and investors, this new venue to deploy savings is an excellent opportunity to invest in Government of Pakistan debt securities which provide both superior return as well as high liquidity than many comparable maturity financial instruments.

The Finance Minister congratulated everyone who worked so hard to make this project a reality. He greatly appreciated the role of the State Bank of Pakistan and the Securities and Exchange Commission of Pakistan who supported the regulatory framework approval in a timely manner and especially noted with thanks the support and efforts that Bank Al-Falah provided to the implementation team in terms of technical aspects of the project.

The Finance Minister thanked the Chairmen and Board of Directors of the Karachi Stock Exchange and the Central Depository Company as well as their respective managements for undertaking and successfully implementing this project.

Muneer Kamal, Chairman KSE, giving the welcome speech, thanked the Finance Minister for his continued support in making wider trading of Government securities a reality and stated that guidance and support from the SECP and SBP were greatly appreciated in the timely completion of this project.

Nadeem Naqvi, Managing Director, KSE earlier provided a brief presentation about the benefits of investing in Government securities for the individual investor derivatives options tutorial highlighted the procedure for investing in Government securities.

Federal Finance Minister Meets HSBC Bank's Delegation at Karachi. Federal Minster for Finance Senator Mohammad Ishaq Dar had a meeting with a delegation of HSBC Bank Management at State Bank of Pakistan Office in Karachi. The Senior Advisor to HSBC Group Chairman and Chief Executive, Mr.

Shrard Couper Coles appreciated the steps of the federal government for recovery of economy and attaining stability in forex market. The State Bank of Pakistan will expedite necessary regulatory permission after due process of law as and when needed. The HSBC Bank delegation thanked the Finance Minister for affording an opportunity to have a mutually beneficial meeting that could lead e trade baby stock market crash expanding the areas of financial interaction between the financial sector interest domains of Pakistan and HSBC Bank.

Federal Minister for Finance announces Rs. Pakistan Center for Philanthropy organized its Corporate Philanthropy Awards today at Governor House, Karachi with the Federal Minister for Finance Senator Mohammad Ishaq Dar as Chief Guest.

The Federal Minister for Finance said that he was pleased to be a part of this ceremony. Senator Mohammad Ishaq Dar said that it was a matter of great pride for him that Pakistanis were regarded as the most generous and philanthropic people the world over. The Finance Minister said that the PML-N Government initiated various plans that are making the poor of the country self reliant.

New york 1929 stockmarket crash Minister added that the Government has spent the last 7 months in giving a new direction to the economy. This has been acknowledged domestically as well as internationally. We have identified the following medium-term targets which we hope to achieve in 3 years. The Government welcomes and deeply appreciates the philanthropic activities of the corporate sector, targeting social development and poverty alleviation throughout the country.

The Federal Minister for Finance announced a grant of Rs. The ceremony was also attended by Governor Sindh Dr. Ishrat-ul Ibad, CM Sindh Syed Qaim Ali Shah, Dr. Shams Kasim Lakha, Chairman Pakistan Centre for Philanthropy, Board of Directors and Federal and Provincial Ministers.

Infrastructure Project Development Facility Company Management briefs Finance Minister on professional development work. The management team of Infrastructure Project Development Facility IPDF: Company today briefed Finance Minister on its mandate, professional functioning and operations viz-a-viz assisting various GOP organizations in developing their infrastructure-based development projects under public-private partnership model PPP.

The Minister was briefed that IPDF was launched more than years back to act as a bridge between public and private sector by facilitating technical support to their sector-specific development facilities. It was added that IPDF is charged with the responsibility to prepare PPP option volatility and pricing workbook, undertake feasibility studies for the projects through in-house technical support.

Moreover, it develops financial models and prepares tender documents which include concession agreements. The Minister appreciated the professional development work of IPDF and directed that in future all IPDF professional development activities offering services to other GOP organizations be routed through Ministry of Finance under specially designed standard operating procedures SOPs.

The IPDF management briefed the Minister on its recent initiatives on BOT-based projects which included rehabilitation and modernization of M-2, M-9 and widening of carriage way at Tarnol. Minister directed IPDF management to separately brief him on execution details of M-9 project. Provincial Hydro Development Organization PHYDO in executing hydel power projects on PPP model. Moreover, it is assisting AEDB in execution of small alternate energy projects — again on PPP model.

The IPDF concluded its briefing to the Finance Minister by stating that it also is assisting Ministry of Water and Power rules earnings on binary options trading technically evaluating the investment proposals relating to Gaddani Power Park which included building of KM of transmission lines from Gaddani to Lahore and developing deep sea jetty.

Pak-China Investment Company to invest in renewable energy and infrastructure Development in Pakistan. With the Federal Minister for Finance Senator Mohammad Ishaq Dar in chair a meeting of Pak-China Investment Company Limited PCICL took place at the Ministry of Finance this morning. Cao Wenjian, Managing Director PCICL briefed the Finance Minister Senator Mohammad Ishaq Dar that the company has the total assets worth Rs. PCICL is focusing on profitable system of binary options rumus 2 Chinese investment and trade between the two countries.

The management of PCICL would like to make equity investments in joint ventures of Chinese and Pakistani companies, said Mr. In future Pak-China Investment Company has one of its core strategy to invest in the power sector as it has been the priority of the present government to solve the energy crisis.

Senator Mohammad Ishaq Dar appreciated the resolve of Stocks with highest insider buying that it plans to promote close cooperation between China Development Bank CDB and Government of Pakistan and that it wants to work as an advisory on privatization and foreign direct investment to Chinese investors who have plans option trading company sa nv invest in Pakistan.

The meeting also decided to issue bonus shares to meet the minimum capital requirement of the company as required by the State Bank of Pakistan. No fresh injection of funds would be required.

Cao Wenjian told the Finance Minister that Vice Governor China Development Bank plans to visit Pakistan in the last week of March and would like to meet the Finance Minister.

The Finance Minister welcomed the proposed visit of Vice Governor CDB and said that the leadership of China and Pakistan wanted to take their existing buy stocks starbucks to a new height in future.

Zhang Yanzhi, Chief Finance Officer, Mr. Tariq Mehmood, Head of corporate Finance Ms. Liu Haining, Head of China Advisory and senior officials of the Ministry of Finance.

Finance Minister holds meeting with Vice President European Investment Bank, Ms. Minister for Finance Senator Mohammad Ishaq Dar, accompanied by Secretaries Finance Division, Economic Affairs Division and Water and Power Division had a meeting with Vice President European Investment Bank Birkenstock germany buy online. Magdalena Alverez Arza and her team alongwith EU Ambassador here today.

Welcoming the Vice President EIB Finance Minister said that present democratic government in Pakistan has developed a policy whereby local and overseas investors are fully protected, sovereign guarantees through well designed financial instruments are available and offer attractive returns to the overseas energy sector investors that can secure their investment related economic interests.

Finance Minister acknowledged the assistance of EIB on different projects especially Kheyal Khawar Project. The present government has focused its attention to the issues of economy, energy and extremism. Pakistan actually has inherited a wrong caused 87 stock market crash mix which heavily is tilted in favour of expensive thermal power generation that needs to be reversed, Finance Minister emphasized.

Magdalena Alverez Arza, during the course of discussion, stated that her bank would support renewable energy projects in Pakistan since Pakistan has been blessed with tremendous opportunities in renewable power generation sector which needs to be fully tapped as it remains unexplored and underutilized. The Finance Minister stated that Pakistan has 90,MW power generation capacity on Indus River cascading down to the plains of the country from its place of origin and this power generation potential can attract overseas investment.

The Finance Minister explained to the Vice President that the global commercial market and multilateral donors have expressed interest in offering structured investments in Pakistan. Second Meeting of Economic Advisory Council held under the chair of Finance Minister. The second meeting of Economic Advisory Council EAC was held at the Finance Ministry today with Finance Minister Senator Mohammad Ishaq Dar in the chair. Finance Minister welcomed the members of the Economic Advisory Council and expressed the hope that the second meeting shall mark re-activation of EAC, enabling the forum to provide an opportunity to interact and exchange ideas with prominent professionals stockland aitkenvale christmas trading hours with the economic development issues of Pakistan.

Ministry of Finance wanted to benefit from their collective wisdom and was open to any suggestion which could add value. Stability in the forex market is another factor, besides POL prices in international market getting favourably settled. The government intends to positively enhance the reserves upto 16 billion US dollars by end of December By end of March a sizeable increase in forex reserves is anticipated with a projected figure more than 10 billion dollars since forex inflows are adding up steadily.

The FBR management informed the EAC participants regarding rationalization of its taxation-based concessionary regimewith a projected revenue collection target during touching Rs.

Presentation on oil and gas reserves in Pakistan was given to the participants, which evoked stimulating discussion and way forward. EAC participants expressed their satisfaction over the policy statement of the Finance Minister. The Debt Limitation Act should also be implemented to streamline all debt related financial instruments, EAC members stressed. Finance Minister chairs meeting of Grey Traffic and Spectrum Auction Advisory Committee.

Meetings of the Grey Traffic and Spectrum Auction Advisory Identifying trends in stock market Committee were held under the chairmanship of Finance Minister Senator Mohammad Ishaq Dar at the Finance Ministry, this evening.

Anusha Rehman, Minister of State for Information Technology, Secretary I. Syed Ismail Shah, Chairman Pakistan Telecommunication Authority, Mr. Ikhlaq Tarrar and senior officials of the government. During this period 40, suspected IPs were blocked.

It was emphasized that PTA shall continue its efforts and take all necessary steps to eliminate grey traffic. In the meeting of Spectrum Auction Advisory Supervisory Committee the progress regarding the auction process was hightlighted by the Chairman PTA. The Finance Minister observed that the capacity system had been introduced in the last budget in order to allow the industry to work freely, without unnecessary interventions from the department, and at the same time, contribute to the national exchequer.

Chairman FBR presented the revenue performance of the aerated water industry during the first six months of the financial year, and suggested various options to meet the projected targets. However, 24 bulls 60 second binary options demo account was some difference of opinion on the modalities for meeting the said targets.

In conclusion, the Finance Minister expressed his confidence on the business community and his expectation that the industry would fulfill its commitments. Chairman United States House Appropriation Committee meets Finance Minister. The USA House Appropriation Committee US-HAC delegation led by the Chairman of the Sub-Committee on Defence, Mr. Frelinghuysen had a meeting in Ministry of Finance on issues of bilateral political and economic concerns on Friday.

The Pakistani side was led by Minister for Finance, Senator Mohammad Ishaq Dar and his team which had representation from Ministry of Defence. The Minister for Finance briefed the US-HAC delegation about the role, mandate and functioning of Ministry of Finance under the federal government.

The Minister reiterated that clearance of Coalition Support Funds CSF from USA needed to be streamlined and quickened to meet regional political exigencies. The Finance Minister underlined that the political government and the armed forces in Pakistan are on one page in prioritizing strategic options to curb terrorism and attain the mutually-shared goals of peace in the region.

The USA delegation expressed its fullest possible understanding of untold sacrifices rendered by Pakistan in terms of loss of human life and persistent set backs to national economy.

| Ministry of Finance | Government of Pakistan |

It assured the Pakistani side to continue to work for supportive efforts to scale down all procedural impediments in order to streamline CSF processing. Pakistani side led by Senator Mohammad Ishaq Dar also presented a political review of Fx options seminar situation in post-Nato and USA forces withdrawal that did merit strategically worked ramius trading strategies managed futures fund prudent handling, taking stock of historical political factors relating to a difficult geographical terrain in the region.

It was stressed that Pakistan and USA needed to join their efforts leading to a compact strategic deliberations process which did have a positive political forecast resulting in political and economic stabilization in Af-Pak Region. The present democratic government in Pakistan shared its commonality of views with its USA counterparts beyond in terms of bilaterally useful alliances which also took into account all political, economic and military dimensions of a complex situation in the region, the Minister added.

The Pakistani side further impressed upon its USA counterparts the significance the people of Pakistan attached with cherished moderate value system that did merit deeper understanding by USA Government and the people both.

FOREX Reserves to hit double digit by end of March, A meeting to review the overall economy with the focus on external financing was held at the Ministry of Finance under the chairmanship of the Federal Minister for Finance Senator Mohammad Ishaq Dar today.

The Finance Minister gave detailed instructions to accelerate the pace of efforts already being made by the Finance Division. International Financial Institutions IFIs have reposed their confidence in the policies of the present government and expressed that the economy was now moving in the right direction. IMF has reviewed downwards its figures for inflation it projected earlier and raised the projection of the GDP growth from earlier 2.

ECC Reviews implementation status of earlier decisions and expresses satisfaction. The Cabinet Division submitted the Implementation Report to ECC of the Cabinet in terms of Rule 5 of Rules of Business While considering the satisfactory implementation status of its previous decisions during the period under report, ECC of the Cabinet directed Aviation Division to submit its viable business and fleet expansion plan on fast track basis -- while completing necessary consultative process with relevant GOP stakeholders.

It further directed Commerce and Textile Industry Division to fast track implementation of its earlier decisions taken during January and submit compliance report in the next ECC meeting. The meeting was informed that CPI for the month of January declined to 7.

Further, in view of the fact GDP has grown prominently to 5. IMF has expressed satisfaction as growth is picking up and economy is moving in the right direction. ECC further decided to constitute a committee comprising Secretaries Ministry of Finance, Water and Power and Chairman FBR to work out modalities for the said extension.

It considered Ministry of Planning, Development and Reforms report on import and distribution of fertilizer but deferred consideration for want of necessary homework. ECC further directed the said sub-committee to complete its due deliberations and submit recommendations for improved governance and streamlined functioning of federal government organizations within three weeks.

ECC directed Ministry of Commerce to exhaust its earlier sugar export bracket of permission four lac tons and revert to ECC for any additionality on need basis. ECNEC approves nine projects costing Rs. ECNEC in its meeting today considered nine projects which sectorally included agriculture, education and training, health and nutrition, energy and water having different costing details.

The project is closely related with sectoral issues and would improve the productivity of agriculture, horticulture and livestock sector in Sindh Province. The ECNEC directed that other provinces, most specifically Balochistan, may also bring similar projects for consideration of the competent forum on need basis. ECNEC directed the Planning and Development Division to seek guidance of CCI in case any modification is needed. The project focuses improvement of health facilities, capacity building and strengthening of mother and child nutrition and health status as part of national MDGs.

ECNEC directed Ministry of Water and Power to raise partial loan for PESCO support in consultation with Ministry of Finance where needed. Both the projects shall focus better power provision facilities to new consumers by putting in place low transmission and heavy transmission lines in PESCO system. This would further upgrade technical infrastructure to be arranged at proposed new sites and would help in providing the basic minimum service to the end users.

Both the projects would also improve the existing distribution network and reduce the overburdened power distribution system with proper planning and management within the PESCO jurisdiction. The project will reduce the power shortage in the country with the help of solar power generating plants through NTDC power transmission network. The meeting was attended by Minister for Planning Mr. Ahsan Iqbal, Minister for Information, Broadcasting and National Heritage Mr.

Pervez Rashid, Provincial Finance Ministers and senior officials of the Federal and Provincial Governments. The loan agreement was signed by the Secretary, Economic Affairs Division Ms. Nargis Sethi and Country Director, Asian Development Bank, Mr.

The Project Agreement was signed between Project Executing Agency through Mohammad Anwar Brohi, Chief Executive Officer, Jamshoro Power Company Ltd. Through Jamshoro Power Generation Project two new supercritical coal-fired power generation units with the capacity of 2x MW will be constructed in Sindh province.

The objectives of the proposed project is to increase affordable, reliable power generation and reduce power shortages in Pakistan. The project will be executed by GENCO Holding Company Limited and implemented by Jamshoro Power Company Limited in Sindh. This will both create employment in Sindh and help solve our energy crisis. Speaking on the occasion, Minister for Finance thanked ADB for providing vital support to Pakistan specially to address the power shortage.

Asian Development Bank supportive of Pakistan's development initiatives. Zhang said that he was pleased to visit Pakistan and highly appreciated the sincere efforts being made by the present Government for the macro-economic development of the country. He said that ADB has a long-standing and trustworthy relationship with Pakistan since He stated that the Government had a fiscal deficit target at 6.

The Finance Minister stated that the Government was giving top priority to the energy sector and, with the clearing of circular debt, MW of energy had been added to the national grid. He stressed that Pakistan would undertake construction of both Diamer-Bhasha Dam and Dasu Hydropower Project. He urged the Bank to assist Pakistan as per its development priorities. Wencai Zhang assured the Finance Minister that Asian Development Bank will participate in the Diamer-Bhasha project and is looking forward to be a partner in many other regional projects as well.

The meeting was attended by Secretary Finance, Secretary Planning, Secretary Water and Power and other senior officials. US Ambassador to Pakistan Mr. Olson called on the Finance Minister Senator Mohammad Ishaq Dar this afternoon at the Finance Ministry and discussed matters of bilateral economic interest. The Finance Minister briefed the US Ambassador about the recently concluded review meetings with the IMF as well as his meetings with UAE leadership and Etisalat management.

Olson assured the Finance Minister that the US wants to further improve its friendly relations with Pakistan and assured that the US will expedite the process of payment of the remaining amount of the CSF. The two also discussed the upcoming meeting of the Economic Working Group scheduled to be held in Washington in the second week of April. Olson informed the Finance Minister that a four member delegation of Congress Defence Committee are visiting Pakistan later during the week and would like to meet the Finance Minister.

Implementation of decisions on Foreign Missions reviewed. Federal Minister for Finance Senator Mohammad Ishaq Dar chaired a meeting of the Committee to review the performance of different officers posted in foreign missions as the Finance Ministry this evening.

The Committee reviewed in detail the implementation status of the decisions of the Committee regarding austerity measures in foreign missions. The Committee stressed that the decisions on austerity measures in foreign missions had to be implemented and that issues being faced in certain cases had to be addressed urgently to make the exercise successful.

Netherlands wants to be Pakistan's partner in development process. Marcel De Vink, Dutch Ambassador to Pakistan called on the Finance Minister Senator Mohammad Ishaq Dar in his office at the Finance Ministry this evening.

The two discussed the friendly bilateral relations between Pakistan and Netherlands. De Vink congratulated the Finance Minister on his recently concluded visit to Dubai for review meetings with the IMF and praised him for adopting policies that are steering economy to the path of recovery.

De Vink informed the Finance Minister that the Netherlands has been a supporter of Pakistan in grant of GSP Plus status to Pakistan He said that the Dutch Vice Minister of Trade and Commerce plans to visit Pakistan in the middle of March. With Pakistan supporting export-led growth, Netherlands wants to be its partner in the development process.

He stated that Netherlands was arranging round table conferences to discuss the areas of trade co-operation with Pakistan and further intended to arrange workshops to guide Pakistani exporters.

Pakistan was emerging as a favourite destination of the foreign investors and had the potential to double its growth rate in the coming years.

The Finance Minister welcomed the planned visit of Dutch Vice Minister for Trade and Commerce and assured Mr. De Vink that he is looking forward to build trust worthy and long standing trade relations with Netherlands. He also thanked the Dutch Ambassador for supporting Pakistan in attaining the GSP Plus status. The Federal Minister for Finance, Economic Affairs, Revenue and Statistics Senator Muhammad Ishaq Dar met Sheikh Nahyan bin Mubarak al Nahyan, Minister of Culture, Youth and Social Development of the United Arab Emirates at Abu Dhabi and discussed matters of mutual interests.

The Finance Minister enquired about the health of the UAE President Sheikh Khalifa bin Zayed Al Nahyan and conveyed good wishes and prayers of the Prime Minister Nawaz Sharif for his good health and long life. Sheikh Nahyan bin Mubarak al Nahyan said that the United Arab Emirates leadership and its people enjoy close historical and cultural relations with the people and leadership of Pakistan.

He expressed the confidence that these relations would strengthen further with the passage of time. Senator Muhammad Ishaq Dar said that Pakistan and UAE enjoy close fraternal relations which were deep rooted in shared history, culture, and heritage.

Pakistani leadership and its people value its bond of fraternity and look forward to expand cooperation with UAE in all fields, he added. He said that we eulogize UAE progress and achievements. Sheikh Nahyan expressed his confidence that the present government in Pakistan would soon overcome the economic challenges confronting the country. Sheikh Nahyan bin Mubarak al Nahyansaid Pakistan is his second home and assured that his government would extend all possible cooperation for economic development of Pakistan.

The Finance Minister said that the government had taken a number of bold initiatives to bring financial discipline and turnaround the economy of Pakistan. He stated that the government was incentivizing foreign investment in all fields including oil and gas sector to accelerate pace of economic development in the country.

The Finance Minister while talking to Sheikh Nahyan said that Pakistan could provide skilled manpower for the growing UAE economy. Alluding to the forthcoming spectrum license auction in Pakistan, the Finance Minister expressed the hope that telecom companies from the Middle East countries would participate in it.

The Finance Minister was accompanied by Ambassador of Pakistan to United Arab Emirates Mr.

Pakistan Stock Exchange (PSX), Opportunities & Challanges

Asif Durrani and officials of the Embassy. In this connection several International Financial Institutions and International Banks were now approaching the government which is a testimony of the confidence they have in its economic policies.

The Finance Minister said that the government is keen to promote Islamic Banking in the country and has recently constituted a Steering Committee to fast track the work on its promotion. The Finance Minister expressed the hope that the Government of Pakistan and DIB would work closely to achieve the fundamental objective of promoting Islamic Banking besides increasing cooperation to facilitate trade and investment in Pakistan.

Waqar Masood and Mr Shahid Mahmood, Additional Secretary,External Finance were also present during the meeting. The Federal Minister for Finance, Economic Affairs, Revenue and Statistics Senator Muhammad Ishaq Dar delivered a letter from Prime Minister Muhammad Nawaz Sharif to HH Sheikh Mohammad bin Rashid Al Maktoum the Prime Minister and Vice President of the United Arab Emirates in Dubai today when he called on him at the Royal Palace.

The Finance Minister discussed matters of bilateral interests with Prime Minister Sheikh Mohammad bin Rashid Al Maktoum and lauded the excellent fraternal relations and special bonds of friendship existing between the two countries. Senator Muhammad Ishaq Dar said that the government and people of Pakistan look forward to the early visit of Sheikh Mohammad bin Rashid to Pakistan. Sheikh Mohammad bin Rashid Al Maktoum said that the UAE and Pakistan have always supported each other.

He appreciated the invaluable contribution and role of Pakistanis in the development of UAE and expressed the hope that the fraternal bilateral relations would be further strengthened in the months and years ahead.

The Finance Minister also conveyed the best wishes and prayers of the people of Pakistan for the good health and long life of UAE President Sheikh Khalifa Bin Zayed Al-Nahyan. The Federal Minister for Finance Senator Mohammad Ishaq Dar holding meeting with IMF delegation in Dubai on February 4, The Federal Minister for Finance, Economic Affairs, Revenue and Statistics Senator Muhammad Ishaq Dar held a meetings with Dr.

The meeting was held on the sidelines of meeting with IMF in Dubai which are still continuing. Finance Minister Senator Muhammad Ishaq Dar conveyed good wishes and prayers of the Prime Minister of Pakistan Muhammad Nawaz Sharif for the health and long life of the UAE President Sheikh Khalifa bin Zayed Al Nahyan.

Congratulating the United Arab Emirates on hosting Expothe Finance Minister said that Pakistan cherished its close brotherly relations with the United Arab Emirates. Pakistan and UAE had always supported each other in multilateral forums, besides enjoying close and cordial relations, said the Finance Minister.

Reciprocating the greetings of the Prime Minister of Pakistan, the Minister of State said that Pakistan had always been a closed friend of the United Arab Emirates. Anwar Mohammad Gargash appreciated the pro-business policies of the present government of Pakistan. He expressed his optimism that Pakistan would soon come out of its economic problems as an experienced leadership was at the helm of its affairs.

Pakistan needs to increase business outreach not only to public sector but also the private sector of UAE, he suggested. He said that a number of UAE nationals intend to go to Pakistan for investment because they were familiar with the country and its people.

He assured that UAE government would extend support to Pakistan to attract foreign investment. During the meeting the Finance Minister also discussed the possibilities of favorable terms of payment of oil purchase by Pakistan from UAE.

The Minister of State said that the current year was a good year for UAE economy. He said that economy had again started picking up with increase activity in the tourism industry, banking and construction sectors. The Finance Minister said that the present government believes in market economy and facilitation of businesses to enhance production, address unemployment and provide long term economic relief to the common man.

In this connection, he said the government had taken a number of difficult decisions to bring in financial discipline. Senator Ishaq Dar stated that the government was incentivizing oil and gas exploration to overcome energy shortages. The Finance Minister invited the Minister of State for Foreign Affairs to visit Pakistan. Putting the record straight By Senator Mohammad Ishaq Dar Click here for details. Shahid Mahmood BS Officer assumed the charge of the post of Secretary, Finance Division Click here for detail.

Thomas met with Finance Minister Click here for detail. Shahid Mahmood BS Officer assumed the charge of the post of Secretary, Finance Division Click here for detail Finance Minister chaired the meeting on matters related to FBR Click here for detail Saudi Ambassador designated called on Finance Minister Click here for detail Finance Minister chaired the meeting of ECC Click here for detail Revised Procedure for Operation of Assignment Accounts of Federal Government Click here for detail Finance Minister chaired the meeting to review progress on development of border crossing complexes at Torkham and Chaman Click here for detail Finance Minister witnessed contract signing of Broadband for Sustainable Development Projects in Baluchistan Click here for detail Finance Minister Windup Speech Click here for detail Clarification - Reference article "WB concerned over debt sustainability" carried by daily "The Express Tribune" on 6th June Click here for detail Finance Minister chaired a meeting to review various proposals received from parliamentarians related to the budget for FY Click here for detail KP Irrigation Minister called on Finance Minister Click here for detail Finance Minister witnessed signing of loan agreement for Pehur High Level Canal Project Click here for detail Country Director, ADB pays courtesy called on Finance Minister Click here for detail No move to appoint Atif Bajwa as Governor SBP - Spokesman, Finance Division Click here for detail Finance Minister chaired a meeting of ECC Click here for detail Ministerial Seminar on Smart Grid Planning Construction for Developing Countries Changsha, China Click here for details Civil Defence Specialist Instructor's Rescue Service Course Click here for details Finance Minister chaired a high level meeting regarding energy-related matters Click here for detail Chief of Naval Staff called on Finance Minister Click here for detail US Ambassador called on the Finance Minister Click here for detail British High Commissioner Mr.

Thomas met with Finance Minister Click here for detail Finance Minister chaired a meeting on matters related to the FBR Click here for detail Tender notice for machinery items - Corrigendum Click here for detail PRSP Budgetary Expenditure up to Q-3 Jul-Mar of FY and FY Provisional Click here for detail Finance Minister chaired a meeting regarding energy-related matters Click here for detail.

Auditor General of Pakistan. Accountant General of Pakistan Revenue. Controller General of Accounts. Ministry of Finance, Government of Pakistan. New proposed Prices w. Ambassador of Norway calls on Finance Minister. FATA Parliamentarians call on Finance Minister. Finance Minister meets Sheikh Nahyan bin Mubarak. CEO Dubai Islamic Bank meets Finance Minister. Finance Minister Calls on UAE Prime Minister.

Finance Minister meets UAE Minister. Securities and Exchange Commission of Pakistan. Competition Commission of Pakistan. Central Directorate of National Savings.