Park View Enclave Limited, a company involved in the property business, has expressed its intention to...

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While giving approval on other key matters the GC also gave directions to relevant Ministry for ensuring immediate utilization of integration with PSW system. Speaking on the occasion, Finance Minister Mr. Shaukat Tarin expressed the government’s complete support and commitment to PSW initiative aimed at facilitating trade and improving regulatory compliances. ECC also approved Technical Supplementary Grant of Rs. 3500 Million in favour of Higher Education Commission for the Project titled vapegala “Pak University of Engineering and Emerging Technologies . ECC also approved Technical Supplementary Grant amounting to Rs. 200 million to Pakistan Military Accounts Department for conversion of Pensioners to Direct Credit System. On the proposal of providing vegetables at Utility Store Corporation outlets, MD USC informed that such facilities have been started at USC outlets in the Capital territory while for provinces the consultation is in process with the relevant authorities.

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They appreciated the steps taken by the Government of Pakistan to ensure fiscal sustainability. Federal Minster for Finance and Revenue, Mr. Miftah Ismail, held a meeting with Mr. Hartwig Schafer, Vice President South Asia Region , World Bank, today. While concluding, Minister of State for Finance and Revenue Dr. Aisha Ghous Pasha thanked Mr. Yong Ye and his team for their dedication and assured them of full support and speedy implementation of the ongoing programs.

The Finance Minister further directed Ministry of NFS&R and provincial governments to expedite the investigation into the undue profit margin in perishables, specially onions, tomatoes and potatoes and control price hike in these items. In his remarks, Finance Minister Mr. Shaukat Tarin appreciated the World Bank for being a source of support in pursuing reform agenda and implementing various development projects for the country. He further said that Pakistan values the financial and technical support provided by the World Bank for the institutional reforms and economic development of the country. Federal Minister for Finance and Revenue Mr. Shaukat Tarin held a meeting with Mr. Najy Benhassine, Country Director, World Bank and his team at Finance Division, today. On the prices of wheat flour, NPMC was informed that Wheat Flour prices in Quetta remained on higher side as compared to other parts of the country.

The ECC allowed Ministry of Economic Affairs to sign 15 debt rescheduling agreements with various credit countries, finalized under Debt Service Suspension Initiative . In the concluding remarks, the Finance Minister commended the efforts being undertaken for stabilizing the prices of essential items successfully and measures to ensure smooth supply of essential commodities throughout the country. He further stressed the stakeholders to gear up the disbursement of interest free loans to help the people in achieving self-sufficiency. Ms. Angela P. Aggeler, Charge d’ Affaires congratulated the Finance Minister on assuming the office and extended full support of the US Government and its people to the Government of Pakistan. She further underscored that both countries enjoy good relations and extended her support to further promote bilateral economic relations.

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Further, the Chair directed Ministry of Industries and Production to expedite the process for building strategic reserves of sugar in the country to maintain stability in prices. Further, the Chair directed Ministry of Industries and Production to expedite the process for building strategic reserves of sugar in the country to maintain stability in prices in future. Secretary Ministry of I&P briefed the meeting on the process for building strategic reserves of sugar in the country to maintain stability in prices. This summary was meant to facilitate and provide level playing field to oil companies vis-à-vis PSO. The chair after deliberation approved the summary and directed to revise the premium on fortnightly basis. Therefore, its impact would increase or decrease depending on the international energy market.

The ECC after discussion approved Ramzan Relief Package 2022 for 19 essential items to be sold at subsidized rates at USCs with total subsidy of Rs. 8280 million. It was apprised that prices of eggs decreased by Rs. 32 per dozen during last 6 weeks and overall there is improvement in market supply of eggs, onions, potatoes and tomatoes. But it was ensured that the prices of chicken will be back to normal price in near future. NPMC was informed that prices of Tomatoes, Eggs, Hi-Speed Diesel, Petrol Super, Garlic, Pulse Moog, Pulse Masoor, Onions, Wheat Flour Bag, Sugar, Potatoes, Pulse Mash, Gur and Chillies Powder have shown decline in the prices during the last week.

Federal Minister for Industries & Production Makhdoom Khusro Bakhtiar, Secretary Industries & Production, Chairman FBR and other senior officials attended the meeting. Finance Minister Shaukat Tarin appreciated the efforts of KP Finance Minister and ensured full support and cooperation of the federal government. An IMF mission lead by Mission Chief Mr Nathan Porter will visit Pakistan in May to discuss the issues around subsidies on petrol and electricity announced by the out going government. Finance Minister Mr. Miftah Ismail thanked the management of JP Morgan on organising the successful investment conference in London, which is the heart of European Financial Market.

These avenues majorly include refinery, agriculture, IT sector and semi-conductor manufacturing sectors. The members shared their insights about the avenues for investment opportunities for Saudi investors in Pakistan. Both Ambassador of Pakistan to Saudi Arabia and Chairman BOI shared that Saudi government as well as investors are keenly interested for investment in Pakistan. There exists huge business potential for investment between both countries at government-to-government, liber888 government-to-business and business-to-business levels. Federal Minister for Finance and Revenue Mr. Shaukat Tarin held a meeting with Mr. Azfar Ahsan, Chairman BOI and H.E Ameer Khuram Rathore, Ambassador of Pakistan to Kingdom of Saudi Arabia at Finance Division today. Finance Minister Mr. Shaukat Tarin said that the Government is fully committed to address the issues of Pharmaceutical industry and provide maximum support to them.