Business

By: Daanika Kamal  Infographic design by Zara Haque  Finance Minister Ishaq Dar recently unveiled the federal budget for the fiscal year July 2016 to June 2017, with a total outlay of Rs. 4.39 trillion indicating a 7% increase over the preceding year. Opposition parties have noted the inequitable provincial distribution of the budget, which has been allocated as follows: Punjab, ... Read More »

ISLAMABAD:(APS) JUNE 3,2016-A relief loaded and growth oriented federal budget for the next financial year has been announced with a total outlay of 4395 billion rupees. Presenting budgetary proposals in the National Assembly on Friday evening, Finance Minister Ishaq Dar described it a historic day for agriculture sector as the budget envisages extensive relief and incentives for farmers. He said ... Read More »

ISLAMABAD:(APS)June 2, 2016-Economic Survey, pre-budget documents, says the country achieved GDP growth rate of 4.7% during the outgoing financial year. The survey was released by Finance Minister Ishaq Dar at a news briefing in Islamabad on Thursday afternoon. He said the country could not achieve the GDP growth rate target of 5.21% due to losses in cotton crop, which had ... Read More »

ISLAMABAD:(APS)May 30, 2016-Prime Minister Nawaz Sharif has given directions for inclusion of a special package for development of agriculture in the next year’s budget. Addressing meeting of the Federal Cabinet through video link from London on Monday evening, he also gave instructions for substantial reduction in the prices of Urea fertilizer for the benefit of farmers. The Prime Minister said ... Read More »

ISLAMABAD:(APS)May 21, 2016-The Finance Minister Ishaq Dar says every effort will be made to provide relief to the people in the next budget. Addressing a pre-budget seminar in Islamabad, he said all the positive suggestions will be incorporated in budgetary proposals. He invited all political parties to give their inputs for preparing a concrete roadmap to strengthen national economy. He ... Read More »

ISLAMABAD:(APS)April 24, 2016-Finance Minister Ishaq Dar has directed the Ministry of Industries and Production to prepare a special Ramazan Package to facilitate the people. The Minister in a statement on Sunday, also directed that the recommendations of Special Ramazan Package be submitted to the Economic Coordination Committee within ten days. Ishaq Dar said as per the previous practice, the new ... Read More »

ISLAMABAD:(APS)April 23, 2016-Finance Minister Ishaq Dar says reforms in different sectors have put the national economy on positive trajectory.  Addressing a pre-budget seminar in Islamabad, he said tax revenue collection has increased by fifty-six percent over the last three years.  The Finance Minister said tax net has been improved and 3100 billion rupees tax revenue target has been set for ... Read More »

ISLAMABAD:(APS)April 14, 2016- The Finance Committee of the National Assembly met under the chairmanship of Sardar Ayaz Sadiq, Speaker National Assembly in Parliament House, today.  The Committee approved the proposed budget of the National Assembly Secretariat for the fiscal year 2016-17 amounting to Rs.3,468 million. The Committee was informed that there was no variation between the revised estimates and sanctioned ... Read More »

ISLAMABAD:(APS)April 9, 2016-A meeting, chaired by Finance Minister Ishaq Dar in Islamabad discussed third and final phasing out plan for withdrawal of concessionary regime known as SROs. The Minister asked Federal Board of Revenue to keep up good efforts for revenue generation to meet the target set for the current financial year. The meeting also reviewed preparations for World Bank ... Read More »

LAHORE:(APS)April 2, 2016-Finance Minister Ishaq Dar has said the government has no plan to privatize Pakistan International Airlines and neither its hotels are being sold. Addressing a ceremony in Lahore on Saturday, he said the opposition has been taken into confidence on the issue of PIA. Ishaq Dar said a bill about PIA will be tabled in the joint session ... Read More »

ISLAMABAD:(APS) March 27, 2016-Qul of Ms. Farwah Assad-daughter of Rana Assad Ameen, AGP, was observed today here at AGP’s residence in F-6/3 after “Asar” prayer. Ms. Farwah died a few days ago in Sweden, while she was a student there. Her funeral was held on 24-03-2016 and was buried in H-8 graveyard. Federal Mininister for Finance, Senator Muhammad Ishaq Dar, ... Read More »

ISLAMABAD:(APS)MARCH 22,2016-Prime Minister Nawaz Sharif has said that Pakistani and Turkish leadership share vision of transforming the traditionally cordial bilateral ties into a robust economic partnership. He was talking to Turkish Minister of Economy Mustafa Elitas in Islamabad on Tuesday. The Prime Minister expressed satisfaction over the growing Pakistan-Turkey economic collaboration. He said Ministry of Commerce has been directed to ... Read More »

  ISLAMABAD:(APS)March 20, 2016-Prime Minister Muhammad Nawaz Sharif has approved the Strategic Trade Policy Framework (STPF) 2015-18. The mid-term strategic trade policy framework has been formulated through an extensive consultative process spanning over almost a year keeping in view the current trends in global trading environment and the declining trend witnessed in Pakistan’s exports during 2015 due to exogenous shocks ... Read More »

ISLAMABAD:(APS)MARCH 13,2016-World Bank says Pakistan has made impressive progress in reducing absolute poverty and improving shared prosperity. The WB in its recently published report “Pakistan Country Snapshot” said percentage of the population below the national poverty rate has fallen from 34.7 per cent to 12.4 per cent in  2011. The report said poverty reduction has been stronger in Khyber Pakhtunkhwa ... Read More »

ISLAMABAD:(APS)MARCH 4,2016-Finance Minister Ishaq Dar says the government is now fully focusing on achieving growth and employment generation after gaining economic stability. He was chairing a meeting which was also attended by World Bank Country Director Pochumuthu Illangovan in Islamabad. The Minister appreciated the contribution of the World Bank for various development projects. The World Bank Country Director said the ... Read More »

ISLAMABAD:(APS)FEB 19,2016- Pakistan has decided to lift sanctions against Iran and has devised a strategy to promote trade ties with the oil rich country, a ministerial meeting decided on Friday, APS reported. According to a notification issued by the Ministry of Foreign Affairs, Islamabad will revive all economic and commercial relations with Tehran, including the areas of trade, investment, technology, ... Read More »

ISLAMABAD:(APS)FEB 14,2016-Finance Minister Ishaq Dar says the government is fully committed to support the debt market in particular Sukuk bonds. He said this during a meeting with senior officials of the Securities and Exchange Commission of Pakistan in Islamabad on Sunday. The Minister said infrastructure development and long-term financing through the capital market is a critical element to raise GDP ... Read More »

ISLAMABAD:(APS)FEB 8,2016-Prime Minister Nawaz Sharif says the incentive-based transparent policies of the government have restored confidence of international business community to invest in Pakistan. He was talking to Chief Executive Officer of VimpelCom Jean-Yves Charlier in Islamabad on Monday. The Prime Minister said government’s clear policies have especially revolutionized the Telecom sector and successful launch of 3-G and 4-G in ... Read More »

ISLAMABAD:(APS)Feb1,2016-President Mamnoon Hussain has said the government is pursuing appropriate policies for the promotion of Islamic Banking and Finance in the country. Addressing a roundtable conference on Islamic Banking in Islamabad on Monday, he said it is encouraging that the share of Islamic banking in overall banking sector is steadily growing. This, he said, shows the tendencies of public towards ... Read More »

ISLAMABAD:(APS)Dec 26,2015-The Finance Minister Ishaq Dar has said that the economy of the country is improving gradually and economic indicators are tremendously better. He was talking to the media after the passing-out ceremony of the 47 newly-inducted Revenue Officers at the FBR Training and Research center in Lahore on Saturday. He said that our GDP rate and capital reflection is ... Read More »