Tag: Business

Minister for Finance Miftah Ismail has announced lifting of ban on import of non-essential and luxury goods.

Speaking at a news conference in Islamabad on Thursday, he said the Regulatory Duties will be enhanced manifold to discourage import of such products.

The Finance Minister said the duties being imposed would not let these commodities to enter into Pakistan as finished goods.

He said Regulatory Duties would be enhanced three times or to maximum possible level and can go even up to 400 to 600 percent or more.

Miftah Ismael said Pakistan is not having many dollars to spend on import of luxury items and the existing resources would be utilized to provide the people of the country with flour, wheat, cotton, edible oil instead of I-phones or luxury vehicles.

Source: Radio Pakistan

Prime Minister Shehbaz Sharif says the government’s immediate priority is to safely navigate through current economic crisis.

In an essay written in British weekly “The Economist”, he said the whole world is facing a difficult year but we have the protection of an IMF programme to see us through.

He said some measures will create hardship and require sacrifice, but we are committed to implement the programme as it is our path to safety.

The Prime Minister said this challenging moment also offers us an opportunity.

Emphasizing on developing consensus among political parties, he said there must be agreements on a few principles, including managing our finances prudently, investing in our people, encouraging merit and innovation, and promoting regional peace.

Shehbaz Sharif said it is important to modernise Pakistan’s social contract. He said people must pay their fair share of taxes in return for vital public services.

He said we must do better for our youth and women, and enable them to fulfil their aspirations and become drivers of economic growth.

Source: Radio Pakistan

Minister for Power Khurram Dastgir Khan says the government has put the economy of the country on a positive trajectory.

Addressing a news conference in Islamabad on Wednesday, the situation will further improve in next two months.

Referring to the speeches of PTI leaders, the Minister said freedom of speech and expression is a constitutional right but has to be exercised within the contours of the constitution.

He said freedom of speech and expression does not mean hideous social media campaigns against state institutions.

Source: Radio Pakistan

Spokesperson Balochistan Government Farah Azeem Shah has said over 92.4 million rupees have been released for those who lost their family members in recent torrential rains in the province.

In a statement on Monday, she said one hundred and two people including women and children died in recent torrential rains across the province.

She said five dams, 580km roads and 11 Bridges were damaged.

The spokesperson said relief activities are still underway in rains affected areas.

Source: Radio Pakistan

A meeting of federal cabinet chaired by Prime Minister Shehbaz Sharif is in progress in Islamabad.

It is discussing overall political and economic situation of the country.

Source: Radio Pakistan