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Tag Archives: Ishaq Dar

FIA issues red warrant against Ishaq Dar

ISLAMABAD: Attorney General (AG) informed the Supreme Court of Pakistan on Saturday that Federal Investigation Agency (FIA) has issued a red warrant against former finance minister Ishaq Dar. The Chief Justice of Pakistan, Justice Saqib Nisar, was heading the three member bench of the Supreme Court hearing the case pertaining to Dar’s return to Pakistan. Attorney General further said that ... Read More »

Interior secretary directed to bring back Ishaq Dar immediately

ISLAMABAD: The Supreme Court on Thursday directed the interior secretary to take steps to bring back former finance minister Ishaq Dar to the country on an urgent basis. “Is Dar present today?” Chief Justice of Pakistan (CJP) Mian Saqib Nisar asked the interior secretary as he headed a three-judge bench of the apex court. The bench was hearing a suo ... Read More »

Etisalat team meets Ishaq Dar

ISLAMABAD: A three member delegation of the Etisalat group led by its CEO, Ahmad A. K. Julfar had a meeting with the Finance Minister, Mohammad Ishaq Dar here. Minister for IT Anusha Rehman Khan was also present. During the meeting administrative and financial matters relating to the PTCL were discussed. The Finance Minister was presented a brief performance review of ... Read More »

KCCI asks Dar to stop illegal trade of dry coconut on LOC

KARACHI: President of the Karachi Chamber of Commerce and Industry (KCCI), Iftikhar Ahmed Vohra, has asked Federal Finance Minister Ishaq Dar to curb illegal trade between Azad Kashmir and Indian Occupied Kashmir. In a letter sent to the finance minister, the KCCI president stated that some of the firms have complained about misuse of Cross LoC Trade between Azad Kashmir ... Read More »

Finance Ministry fails in hiring financial adviser for PSM

ISLAMABAD: The Finance Ministry has failed in hiring financial adviser to seek a strategic partnership for Pakistan Steel Mills (PSM) despite passage of six months of the decision. “The Privatisation Commission (PC) took the decision in this regard on July 22 last year. However the process of hiring of financial advisor seeking a strategic partnership for PSM is still in ... Read More »

5600MW of power in 3 yrs: Govt adopts two-pronged policy to address energy crisis: Dar

ISLAMABAD: Under a two pronged strategy, the government, in short-term policy, envisages an immediate measure to generate 1,000MW electricity based on well-head gas in areas under Hesco and Sepco. Secondly, there is a plan for another 1,000MW power generation package, also under Hesco and Sepco based on local gas supply and bids for these projects have already been invited till ... Read More »

Dar says Pakistan declared ‘Issuer of the Year’ for 2014 by IFR Asia

ISLAMABAD: Finance Minister Ishaq Dar has revealed that Pakistan has been declared as the “Issuer of the Year” by the International Financing Review Asia (IFR Asia) in its Roll of Honour for the year 2014. Dar said that based on its successful return to the international capital markets, Pakistan has been honoured with the title by this prestigious publication. Pakistan ... Read More »

131m shares each at Rs110: Zubair lauds investors for overwhelming interest in ABL’s divestment

ISLAMABAD: The Cabinet Committee on Privatization (CCOP) unanimously approved strike price of Rs. 110/- per share for divestment of government’s residual shares in Allied Bank Ltd. (ABL). According to the press release issued by Finance Ministry, during the meeting of privatization board, held on December 11, under the chair of Finance Minister, Ishaq Dar, recommended the ‘Strike Price of Rs.110/- ... Read More »

$35b agri products imports: Dar seeks plan to grab Pak share in $16b Russian imports

ISLAMABAD: Russia has been importing food items worth $35 billion particularly Europe, and current EU curbs on imports is creating a space of $16 billion which should be captured and exploited through the exports of Pakistan products. “Pakistan want definitely needs a handsome share in this available market”, declared Finance Minister Ishaq Dar while chairing a meeting here. Mr Dar ... Read More »

Return filing extended to Dec 5: FBR exempts penalty on late submissions

ISLAMABAD: The Federal Finance Minister Ishaq Dar has decided that the taxpayers who file their returns for tax year 2014, by or before 5th December, 2014  should be exempted from payment of penalty for late filing of return and default surcharge for late payment of tax. It is worthy to note that Customs Today had predicted that FBR would extend the ... Read More »

In a meeting with Dar, USAID hints at bring $43m investment in energy sector

ISLAMABAD: The USAID attaches great importance to the development of Pakistan and that it will be bringing in investment to the tune of $43 million in energy sector in Pakistan. USAID Assistant Administrator for AfPak Affairs Donald Larry Sampler stated this during a meeting with Finance Minister Ishaq Dar here. He was accompanied by US Ambassador in Pakistan Richard G ... Read More »

Audit notices: Dar assures KCCI of discussing taxpayers’ problems with FBR chief

  KARACHI: Federal Minister for Finance and Economic Affairs, Ishaq Dar, has assured a delegation of the Karachi Chamber of Commerce and Industry (KCCI) that the issue of audit notices to taxpayers under final tax regime will be thoroughly discussed with the Federal Board of Revenue (FBR) chairman with a view to provide relief to perturbed taxpayers. The assurance was ... Read More »

Trade between Pakistan, Afghanistan to be increased to $5b from $2.5b

ISLAMABAD: Pakistan and Afghanistan have agreed to enhance bilateral trade to $5 billion with next two to three years from current $2.5 billion. Afghan Finance Minister Hazrat Omer Zakhilwal has called on his Pakistani counterpart Ishaq Dar and discussed the trade and bilateral ties between the two countries. Dar said that Pakistan would complete a 100-bed Naeb Aminullah Khan Hospital ... 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 »

50% short sale of OGDCL 313m shares: Govt blames PTI sit-ins, fate of $4b from SOEs, PIA?

ISLAMABAD: The government on Wednesday blamed PTI chief Imran Khan and PAT leader Tahir-ul-Qadri led sit-ins for scrapping of OGDCL transaction after investors subscribed to only half of the total shares offered to international and domestic institutional investors, dealing the first blow to an ambitious privatisation agenda. Pakistan was planning to raise $ 4 billion by selling some key state-owned ... 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 »

Dar pledges to take foreign reserves to $15b by Dec 31

ISLAMABAD: Finance Minister Ishaq Dar has said that foreign currency reserves will be increased up to $15 billion till December 31 this year through selling Sukuk bond worth $500 million as IMF has also nodded to give $1.1 billion instalment. Ishaq Dar, while talking to media, said that the government would first hold roadshows and then float sukuk in the ... Read More »

$500m Sukuk bond sale, $1.1b IMF tranche to take forex reserves to $15b: Ishaq Dar

ISLAMABAD: Finance Minister Ishaq Dar has said that foreign currency reserves will be increased up to $15 billion till December 31 this year through selling Sukuk bond worth $500 million as IMF has also nodded to give $1.1 billion instalment. Ishaq Dar, while talking to media, said that the government would first hold roadshows and then float sukuk in the ... 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 »