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Tag Archives: Federal Finance Minister Ishaq Dar

19 Islamic banks, 1200 branches in 80 districts: Dar inaugurates 3rd phase of financial innovation fund

ISLAMABAD: Federal Finance Minister Ishaq Dar has inaugurated the third round of Financial Innovation Challenge Fund for the promotion of Islamic financing, which is the fastest growing sector of banking industry in Pakistan. The Financial Innovation Challenge Fund was launched with the help of the United Kingdom under the UKAid-sponsored Pakistan Financial Inclusion Programme being operated by the State Bank ... Read More »

3,600MW power plant: Dar-led committee for establishing LNG-based power projects

ISLAMABAD: Headed by Federal Finance Minister Ishaq Dar, the sub-committee of the Cabinet on energy has continued its deliberations to take measures to curb energy shortage in the country, focusing on establishment of power projects based on local gas supplies and Liquefied Natural Gas (LNG). The cabinet committee on energy headed by the prime minister had directed the ministerial committee ... Read More »

Aptma delegation meets CM: KP, Centre has difference of views over utilization of power: Khattak  

PESHAWAR: The Khyber Pakhtunkhwa government has difference of opinion with the federal government over the utilisation of electricity generated from additional gas as the Centre wants the power should be provided to national grid while the provincial govt wants its utilisation for the development of local industrial units to attract investment and create employment opportunities in the province. KP Chief ... Read More »

Rs65-70b/annum loss after POL prices cut: Govt may impose more taxes, reduce development budget

ISLAMABAD: The federal government may impose new taxes or reduce development budget at it has to face Rs65-70 billion per annum loss in revenue after declining trend in prices of petroleum products. Official sources said that defence expenditures and debt servicing could not be halted, so the deficit or loss could be overcome by slashing development budget or imposing new ... Read More »

Rs65-70b/annum loss after POL prices cut: Govt may impose more taxes, reduce development budget

ISLAMABAD: The federal government may impose new taxes or reduce development budget at it has to face Rs65-70 billion per annum loss in revenue after declining trend in prices of petroleum products. Official sources said that defence expenditures and debt servicing could not be halted, so the deficit or loss could be overcome by slashing development budget or imposing new ... Read More »

$1.05b IMF tranche: Reserves cross $15b mark, SBP holds $10b, says Dar

ISLAMABAD: Federal Finance Minister Ishaq Dar has said that the country’s foreign currency reserves have crossed the $15-billion mark as Pakistan received $1.05 billion from the International Monetary Fund (IMF) under three-year Extended Fund Facility. He said this while giving briefing to Prime Minister Nawaz Sharif. He said that out of the total forex reserves, $10 billion was held by the ... Read More »

$1.05b IMF tranche: Reserves cross $15b mark, SBP holds $10b, says Dar

ISLAMABAD: Federal Finance Minister Ishaq Dar has said that the country’s foreign currency reserves have crossed the $15-billion mark as Pakistan received $1.05 billion from the International Monetary Fund (IMF) under three-year Extended Fund Facility. He said this while giving briefing to Prime Minister Nawaz Sharif. He said that out of the total forex reserves, $10 billion was held by the ... Read More »

$1.05b IMF tranche: Reserves cross $15b mark, SBP holds $10b, says Dar

ISLAMABAD: Federal Finance Minister Ishaq Dar has said that the country’s foreign currency reserves have crossed the $15-billion mark as Pakistan received $1.05 billion from the International Monetary Fund (IMF) under three-year Extended Fund Facility. He said this while giving briefing to Prime Minister Nawaz Sharif. He said that out of the total forex reserves, $10 billion was held by the ... Read More »

9-day before deadline: Foreign reserves cross $15b mark, $10b with SBP

ISLAMABAD: Federal Finance Minister Ishaq Dar has said that the country’s total foreign exchange reserves have crossed $15 billion. The finance minister revealed this during a meeting with Prime Minister Nawaz Sharif in Islamabad. Dar gave him detailed briefing about economic measures taken which made possible to achieve the target. The prime minister congratulated Finance Minister Ishaq Dar and his ... Read More »

9-day before deadline: Foreign reserves cross $15b mark, $10b with SBP

ISLAMABAD: Federal Finance Minister Ishaq Dar has said that the country’s total foreign exchange reserves have crossed $15 billion. The finance minister revealed this during a meeting with Prime Minister Nawaz Sharif in Islamabad. Dar gave him detailed briefing about economic measures taken which made possible to achieve the target. The prime minister congratulated Finance Minister Ishaq Dar and his ... Read More »

$2bln investment: K-E to set up 660MW coal power plant, convert 400MW plant to gas

ISLAMABAD: The management of K-Electric planned investing $2 billion including $1 billion for construction of a 660MW coal-fired power plant in Gaddani and $400 million for conversion of 400MW furnace oil-run plant to coal. The company has planned a total investment of $2 billion and the plan will be completed by June 2017. K-Electric Chairman Tabish Gohar informed Finance Minister ... Read More »

132 children killed: Dar terms Peshawar attack a national tragedy

ISLAMABAD: Federal Finance Minister Ishaq Dar, condemning the terror attack on Peshawar school, has said that the killings of 142 people including 132 innocent children is a national tragedy and this is the time for nation to unite under one banner. He said this while talking to media after addressing the Tax Reforms Commission meeting. The minister said that a ... Read More »

Dar for addressing sugar millers’ issues, asks body to finalise recommendations in 3 days

ISLAMABAD: Federal Finance Minister Ishaq Dar, speeding up his struggle to address sugar millers’ problems, has directed a newly-formed committee to finalise its recommendations within three days. The Finance Ministry, in a statement issued to media, said that Senator Ishaq Dar had given instructions to the committee on issues facing sugar producers to have detailed deliberations on the problems faced ... Read More »

1174MW electricity to be imported from Iran

ISLAMABAD: Federal Finance Minister Ishaq Dar and his Iranian counterpart Dr Ali Taieb Nia have inaugurated the 19th meeting of the Pakistan-Iran Joint Economic Commission (JEC) with their addresses and hoped that four memorandums of understanding (MoUs) will be signed during the meeting. Sources said that out of the 12 MoUs under consideration, four will be signed between the two ... Read More »

$15b reserves by Dec end, revenue collection up by 14.3%, remittances by 15.2% in 4 months: Dar

ISLAMABAD: Federal Finance Minister Ishaq Dar has once again claimed that the government will achieve $15 billion foreign exchange reserves target by December, 31 2014 against the present $14 billion as IMF to release the 3rd and 4th tranches on December 17. He said this while talking to the office-bearers of APNS. The minister revealed that international experts had predicted if ... Read More »

GDP growth rate to up by 7pc, exports $32b, FDI $5.5b, reserves $20b by 2018, claims Dar

ISLAMABAD: Federal Finance Minister Ishaq Dar, addressing the 16th National Security Workshop on the topic “Economic Policy of Pakistan” at the National Defence University, has said that the country’s GDP growth rate will be increased to 7 per cent by the year 2017-18. Finance Minister Senator Ishaq Dar said that fiscal consolidation, power sector reforms, gas sector reforms, privatisation programme, ... Read More »

$15b reserves target nears as govt raises $1b by selling Sukuk bonds

LONDON: Federal Finance Minister Ishaq Dar has expressed the confidence that the government would achieve $15 billion foreign reserves target by December 31 this year as response to Sukuk would far exceed the interest evinced in Euro Bonds. Pakistan raised $1 billion from the international Islamic bond market on Wednesday by selling its Sukuk papers at 6.75 per cent profit ... Read More »

$15b reserves target nears as govt raises $1b by selling Sukuk bonds

LONDON: Federal Finance Minister Ishaq Dar has expressed the confidence that the government would achieve $15 billion foreign reserves target by December 31 this year as response to Sukuk would far exceed the interest evinced in Euro Bonds. Pakistan raised $1 billion from the international Islamic bond market on Wednesday by selling its Sukuk papers at 6.75 per cent profit ... Read More »

$15b reserves target to be met as Sukuk to ‘defeat’ Euro Bonds, claims Dar

LONDON: Federal Finance Minister Ishaq Dar has expressed the confidence that the government would achieve $15 billion foreign reserves target by December 31 this year as response to Sukuk would far exceed the interest evinced in Euro Bonds. He was addressing meetings in London attended by leading investors, banks and financial institutions highlighting the Sukuk. The Minister informed the participants ... Read More »

Dar discusses Sukuk in UAE, says Income Support Fund increased from Rs30b to Rs95b

ISLAMABAD: Federal Finance Minister Ishaq Dar, who is in the United Arab Emirates (UAE), has met with the financial advisors regarding the issuance of Pakistan Islamic Bonds (Sukuk). Meanwhile, Finance Minister Ishaq Dar has said that government would continue to pursue its policy to bring further macro-economic stability and to overcome energy shortages in the country. In a statement, he ... Read More »