Sunday , April 11 2021
Breaking News
Home / Tag Archives: Finance Ministry (page 3)

Tag Archives: Finance Ministry

Closing: KSE tumbles on 32,000pts rally, sheds 187pts to close at 31441.82pts

KARACHI: The Karachi Stock Exchange 100-index lost 187.38 points to settle at 31441.82 points and volume of 160,838,810 shares on Thursday. Earlier, the Karachi Stock Exchange opened at the overnight closing of 31,629 points and continued the spree, adding to the joys of investors and brokers. The market appeared buoyant and steady, reflecting its resolve to cross the new highs. ... Read More »

Disinvestment shelved: Dar claims PTI, PAT sit-ins triggered slum in OGDCL shares price

ISLAMABAD: The sit-ins and street protests by the Pakistan Tehreek-e-Insaf (PTI) and Pakistan Awami Tehreek (PAT) triggered slump in the shares’ price of state-owned Oil and Gas Development Company Limited (OGDCL), forcing the government to put off its planned disinvestment of 10 percent shares of the state’s giant. “Apparently annoyed” Federal Finance Minister Senator Ishaq Dar blamed while addressing a ... Read More »

Closing: Buoyant KSE flying high to cross 32,000pts, registers another 325 points

KARACHI: Bullish stocks adamant to rise high and high and appeared to have set eye on crossing another high of 32,000 points as benchmark KSE-100 index gained another massive 325.57 points to settle at 31629.20 points on Wednesday. The Karachi Stock Exchange continued upward march steadily and all day seems to have gained the confidence to keep the bull-run prevail, ... Read More »

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

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 »

Domestic debt composition major culprit behind public debt increase: Finance Ministry

ISLAMABAD: The Finance Ministry has termed composition of domestic debt as main reason for the increase in public debt, Customs Today reliably learnt on Tuesday.  “Banks changed their interest rate outlook and sharply increased their participation in Pakistan Investment Bonds (PIBs) last year which resulted in a sharp increase in the public debt and,” a well-placed official source at Finance ... Read More »

Pakistan Steel Mills needs Rs 500 million boiler

KARACHI: The Pakistan Steel Mills (PSM) needs a new boiler worth Rs 500 million to continue production. PSM spokesman Shahzam Akhtar said they had a 50-year-old boiler for production which was in a bad condition. The PSM has appealed to the Finance Ministry for the new boiler. The production capacity of the PSM would be increased after the installation of ... Read More »

Finance Ministry ponders more taxes to curb tobacco use

Ishaq Dar-led ministry has sent proposal to Federal Board of Revenue (FBR) to increase taxes on tobacco products in Budget 2014-15    ISLAMABAD: The Finance Ministry proposed an increase in the excise duty by 23% and 13% on lower to upper slab of tobacco products respectively with an objective to curtail tobacco use. The ministry considered taxes as the single-most ... Read More »

Weekly review: KSE makes history, nearly touches 31,000 points

KARACHI: The Karachi Stock Exchange (KSE) 100-index opened on positive sentiments on the first day of trading and gained 553.51 points in the week-long trading, as it opened at 30,376.53 points on Wednesday and closed at 30,930.04 points on Friday. Earlier, the Customs Today predicted that the KSE 100-Index would touch the benchmark of 31,000 points till closing of the ... Read More »

Sales Tax (Amendment) Ordinance promulgated to avoid SC order

ISLAMABAD: On the recommendations of the Finance Ministry, the government promulgated Sales Tax (Amendment) Ordinance 2014 in March this year to avoid implementation of the Supreme Court order. The said amendment ordinance amended sub-section (2) of section 3 B of the Sales Tax Act 1990. An official source at Finance Ministry told this scribe here the other day that as ... Read More »

OGDCL’s 10% shares sale at Rs 216 postponed; $800m target seems impossible

ISLAMABAD: The Finance Ministry decided to defer the sale of 10 percent government shares of OGDCL. This decision has taken by the privitisation committee because the target of $800 million was not expected to be achieved. Therefore privitisation commission planned to sale the shares but it was delayed due to sit-ins. The price of crude oil decreased during this period. ... Read More »

Closing: KSE 100-Index grazes all-time record of 31,000pts with 0.001% on intra-day high of 30999.71pts

KARACHI: The Karachi Stock Exchange (KSE) KSE 100-Index has almost grazed the highest-ever psychological barrier of 31,000 points on Friday with 0.001% with intra-day high of 30999.71 points. KSE gained 266.26 points to close the week on 30930.04 points and volume of 158,275,810 shares on last day of trading, Friday. At a time, it looked that the market would touch or even ... Read More »

Finance Ministry denies taking ADB’s dictation

ISLAMABAD: Finance Ministry has categorically ruled out receiving any directions from the Asian Development Bank (ADB) on controlling power and gas theft, saying, nothing officially in this regards has been conveyed to the government. “However, the government has an understanding with ADB to reduce distribution and transmission losses substantially under the sustainable energy sector reform program” a well placed official ... Read More »

FBR wants amendments in Anti-Money Laundering Act 2010

FBR has moved list of recommendations and it is now up to government and parliament to amend Anti-Money Laundering Act 2010   ISLAMABAD: The Federal Board of Revenue (FBR) has moved a list of amendments to include fiscal offences in the Anti-Money Laundering Act 2010. “Now it is up to the government and parliament to amend the requisite Anti-Money Laundering ... Read More »

Closing: KSE maintains all time high position, up 70 points

KARACHI: The Karachi Stock Exchange (KSE) 100-index 70.47 points to reach 30663.78 points and volume of 211,621,120 shares on Thursday by maintaining all time high postion. Earlier, stocks consolidated its overnight rally and kept on upward march, adding another 162 points or 0.53 percent to take the benchmark KSE-100 to 30755 points level till 9:45am. The mark opened at overnight ... Read More »

Finance Ministry slaps 20% import duty on wheat to bolster local production

ISLAMABAD: Ministry of Finance has imposed 20 percent regulatory duty to promote local crops. “The duty applies to wheat imports from all countries for the current crop season,” said Saeed Javed, a spokesman for Pakistan’s Finance Ministry. “Pakistan was out of the global export market this year and a series of very large import purchases put local wheat prices under ... Read More »

Banking on IMF loan

The Finance Ministry expects a breakthrough in talks between Pakistan and the International Monetary Fund (IMF) in Dubai for the issuance of $100 million installment, hoping that the money will soon be delivered to Islamabad. According to newspaper reports, the talks are going to be held in November 7 in the backdrop of $6.64 billion assistance programme for Pakistan. The ... Read More »

IMF likely to give new targets to FBR

Chairman FBR Tariq Bajwa and Member Customs Nisar Muhammad Khan are holding meetings with IMF in Dubai Talks between FBR and IMF will continue until November 7      ISLAMABAD: The International Monetary Fund (IMF) is likely to give new targets to the Federal Board of Revenue (FBR) on improvement of performance in revenue collections and administration for continuation of ... Read More »

Closing: KSE compensates holidays, adds 216 points

KARACHI: The Karachi Stock Exchange (KSE) 100-index 216.78 points to reach 30593.31 points and volume of 133,854,400 shares on the start of trading after Ashura holidays, Wednesday. Earlier, the market began the week on a positive note and the benchmark 100 index kept on upward march, setting the trend for the trading. The Karachi Stock Exchange KSE-100 went up 107 ... Read More »

Govt to raise Rs273b by privatising eight state institutions

ISLAMABAD: The Finance Ministry has high expectation of getting Rs260.9 to Rs273 billion by privatising of eight government entities in the current fiscal year. The government also eyed on significant increase in proceeds from the privatization of remaining three generation companies (GENCOs) and six power distribution companies (DISCOs). An official source at the Finance Ministry told this scribe that the government ... Read More »

Increase in wheat support to Rs 1300 per 40 kg to benefit farming: PM Nawaz  

ISLAMABAD : The decision to increase in the support price of wheat to Rs 1300 per 40 kg and cut in the petroleum prices, particularly in the price of diesel would benefit farming, said Prime Minister Nawaz Sharif in a statement issued the here the other day. He said the government was fully cognizant of the problems of the people ... Read More »