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Tag Archives: Finance Ministry

Finance Ministry expects Rs 273 billion by selling 8 state entities

ISLAMABAD: The Finance Ministry has high expectation of getting Rs 260.9 to 27. 3 billion out of privatization 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 ... Read More »

Closing: KSE 100-Index rebounds with 172 points

KARACHI: The Karachi Stock Exchange (KSE) 100-index 172.44 points to reach 30376.53 points and volume of 74,527,210 shares on last day of trading, Friday. Earlier in the morning, the market opened at the overnight closing of 30207 points and kept on upward march. The investors responded positively to the positive trend in the market and remained engaged in trading. Buoyancy ... Read More »

Income Tax Returns filing date extended to Nov 21

ISLAMABAD: Federal Finance Minister and Federal Board of Revenue have received a number of requests for extension in date of filing of Income Tax Returns for Tax Year 2014, from FPCCI, Provincial Chambers of Commerce & Industry, All Pakistan Tax Bars Association, Pakistan Tax Advisors Association, All Pakistan Anjuman-e-Tajran and various other Trade Bodies and Business Associations stating that due ... Read More »

Closing: KSE bounces back, scores 91 points  

KARACHI: The Karachi Stock Exchange (KSE) 100-index 90.85 points to reach 30204.09 points and volume of 81,187,130 shares on Thursday. Benchmark KSE 100-index gained 133.43 points to reach 30246.67 points with the total volume of 42,072,860 shares till midday. Earlier, the country’s biggest stock market started with positive note, recouping two days losses and gained 74.38 points to reach 30187.62 points ... Read More »

ICCI lauds Dar’s 14-point future roadmap

ISLAMABAD: The Islamabad Chamber of Commerce and Industry (ICCI) welcomed the 14-point “future roadmap” announced by by Finance Minister Ishaq Dar to improve economy and make Pakistan globally a competitive country. In a statement issued here, ICCI President Muzzamil Hussain Sabri called upon the government to start taking practical measures to ensure implementation of the roadmap in letter and spirit ... Read More »

$200b recovery from Swiss banks: Officer stuns Finance Ministry, FBR

ISLAMABAD: The Finance Ministry and Federal Board of Revenue (FBR) are stunned over the outcome of mission sent to Switzerland to negotiate on the issue of bringing $ 200 billion from Swiss banks. Federal Minister for Finance Ishaq Dar had announced that talks would be held with Swiss authorities in August to bring back US$200 billion to Pakistan from banks ... Read More »

Govt wants tax-to-GDP at 15pc, deficit down to 4.7pc: Dar

ISLAMABAD: Pakistani Constitution guarantees fundamental human rights and the present government attaches great importance to implementation of all relevant laws and regulations which safeguards these rights. Finance Minister Senator Mohammad Ishaq Dar stated this while talking to European Union Special Representative on Human Rights Stavros Lambrinidis and EU Ambassador Lanrs-Gunnar Wigemark who called on him here. On the occasion, the ... Read More »

Closing: KSE back into red zone amid cautious trading

KARACHI: The Karachi Stock Exchange (KSE) 100-index lost 13.34 points to reach 30225.62 points and volume of 101,465,880 shares on Tuesday. Earlier the market opened on a positive note, though investors appeared cautious, the overall sentiments remained bullish. The stock exchange which opened at overnight closing of 30238 points rallied and set the direction for the investors. The bullish trend ... Read More »

Commerce Ministry plans infrastructure uplift at dry ports

ISLAMABAD: The Ministry of Commerce (MoC) is likely to spend a huge sum of money on the establishment of infrastructure to facilitate exporters to meet the international standards. As per policy guidelines prepared by the MoC in this regard, the Ministry would establish infrastructure like construction of cold storage, hot water treatment plants and other facilities at dry ports mainly ... Read More »

Non-availability of liquidity biggest issue of KSE: Director Moti

KARACHI: The biggest issue the stock market facing today is that retail investors have pushed out of the market due to non-availability of liquidity that has closed the supply side. This was stated by Director of Karachi Stock Exchange Zafar Moti while talking to Customs Today. “The benchmark KSE 100 Index has peaked to an all time high-level and the ... Read More »

Closing: KSE 100-Index extends winning streak, adds 140 points

  KARACHI: The Karachi Stock Exchange (KSE) 100-index gained 140.47 points to reach 30238.96 points and volume of 90,046,030 shares on first day of trading, Monday. Despite gloom and doom prevailed across the political spectrum, the KSE-100 index, opened at 30,098.49 and gained 27.68 points to reach 30126.17 points with total volume of 41,749,800 shares till midday. Earlier, benchmark KSE ... Read More »

China to sponsor Diamer Bhasha Dam Awareness Conference: Minister Dar

  ISLAMABAD: Federal Minister of Finance and Revenue Senator Mohammad Ishaq Dar held a meeting with China Development Bank  (CDB) Vice President Zhao Xiaoyu in Beijing. Federal Minister of Finance and Revenue Senator Mohammad Ishaq Dar said the China Development Bank (CDB) agreed to be the local sponsors of an awareness conference for prospective investors for the construction of the ... Read More »

Weekly review: Bulls beat bears at KSE with 206 points

KARACHI: The Karachi Stock Exchange (KSE) 100-index opened on negative note on the first day of trading, however, gained 206.01 points in the week-long trading, as it opened at 29892.88 points on Monday and closed at 30098.49 points on Friday. On Monday, the KSE lost 171.98 points to reach 29711.12 points and volume of 59,831,040 shares. Continuing volatility of early ... Read More »

Retrieving $200b from Swiss: Finance Ministry, FBR stunned over ‘misuse’ of authority

ISLAMABAD: The Finance Ministry and Federal Board of Revenue (FBR) are stunned over the outcome of mission sent to Switzerland to negotiate on the issue of bringing $ 200 billion from Swiss banks. Federal Minister for Finance Ishaq Dar had announced that talks would be held with Swiss authorities in August to bring back US$200 billion to Pakistan from banks ... Read More »

Closing: KSE 100-index sticks to 30,000-plus level

KARACHI: The Karachi Stock Exchange (KSE) 100-index survived 30,000 psychological barrier and gained 63.76 points to reach 30088.89 points and volume of 113,364,510 shares on last day of trading, Friday. Earlier, KSE 100-index started with bullish note and gained 90.11 points to reach 30115.24 points with a volume of 14,238,550 shares till 9:45am. On Thursday, the benchmark KSE 100-index maintained ... Read More »

KSE crosses 30,000 level after severe battle between bulls & bears

KARACHI: The Karachi Stock Exchange (KSE) 100-index kept its bullish trend to cross 30,000 barrier on Thursday and gained 84.74 points to reach 30025.13 points and volume of 108,461,400 shares. Earlier, the KSE kept bullish note till midday, crossing psychological barrier of 30,000 and gained 108.83 points to reach 30049.22 points with total volume of 51,230,270 shares. The highest increase ... Read More »

Officer sent to bring USD200 billion back from Swiss banks stun Finance Ministry, FBR

ISLAMABAD: The Finance Ministry and Federal Board of Revenue (FBR) are stunned over the outcome of mission sent to Switzerland to negotiate on the issue of bringing $ 200 billion from Swiss banks. Federal Minister for Finance Ishaq Dar had announced that talks would be held with Swiss authorities in August to bring back US$200 billion to Pakistan from banks ... Read More »

Closing: KSE rebounds on strong leads from Asian, US markets

KARACHI: The Karachi Stock Exchange (KSE) 100-index 246.12 points to reach 29940.39 points and volume of 110,960,050 shares on Wednesday as political tension soothe after the Pakistan Awami Tehreek (PAT) chief ended sit-ins in Islamabad after 67 days. Also positive trends, on international markets, help traders gain confidence as Asian stock markets climb amid hopes of fresh European stimulus. Earlier, ... Read More »

Finance Ministry puts gradual monetary tightening on hold

ISLAMABAD: The Finance Ministry has put the gradual monetary tightening on hold in third quarter of the current fiscal year as the risks associated with the inflationary pressures and external sector dissipated to some extent. Although developments in the external and fiscal sectors signalled further improvement as the government successfully mobilised US$ 2.0 billion from Euro bonds and generated US$ ... Read More »

Closing: KSE extends slide as rift grows between MQM, PPP

KARACHI: The Karachi Stock Exchange (KSE) 100-index lost 16.85 points to reach 29694.27 points and volume of 71,040,950 shares on Tuesday. Earlier, benchmark KSE 100-Index took a good start and gained 142 points to reach 29853.55 stage with the total volume of 16,142,400 shares. After five consecutive bearish days, Karachi Stock Exchange 100-Index Tuesday witnessed positive rally and gained 73.37 ... Read More »