Month: July 2022

The United States has expressed interest in investment in wind, renewable energy, textile and agriculture sectors of Pakistan.

The interest was shown by a US-delegation, led by State Department’s Special Representative for Commercial and Business Affairs, Dilawar Syed, which called on Finance Minister Miftah Ismail in Islamabad on Friday.

The delegation shared that the US Development Finance Corporation is planning to revise the Power Purchase Agreements of its sponsored wind power projects in Pakistan.

The Finance Minister welcomed the delegation and apprised them of the economic challenges faced by the country and policy reforms undertaken to tackle these challenges.

He said these reforms aim at enhancing the GDP growth, attracting the Foreign Direct Investment and augmenting exports of the country.

The Finance Minister said government is promoting the foreign automobile and mobile assimilation companies for enhancing exports.

He assured to provide more conducive environment for the foreign investment in this regard.

Source: Radio Pakistan

Minister for Finance and Revenue Miftah Ismail has appreciated the Federal Board of Revenue for collecting a record amount of tax worth 763 billion rupees last month.

Addressing a news conference in Islamabad today, he said it shows an increase of 32 percent in tax collection.

The Finance Minister said tax collection has never exceeded 580 billion rupees per month in the country.

He said 389 billion rupees in lieu of income tax was collected last month, recording an increase of 45 percent.

Miftah Ismail said no advance tax was taken last month to achieve tax collection target.

He said during the 4th quarter of outgoing financial year since PML-N led allied government took over, the tax collection remained 1741 billion rupees, which is 29 percent more than last year’s same period.

The Minister said refunds worth 39 billion rupees have been issued during the last month, recording an increase of 44 percent as compared to last year.

Source: Radio Pakistan