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Forex. pk, Pakistans besten Forex-Portal bietet Ihnen bis zu der Minute Forex Preise in Pakistan Open Market, Pakistan Inter Bank amp International Forex-Markt. Hier finden Sie Forex-Preise Archive, Grafiken, Diagramme, Forex-News, Devisenhändler-Verzeichnis, Währungsverzeichnis, Goldpreise, Pakistan Prize Bond Ergebnisse und eine breite Palette von Informationen, die Ihnen helfen, die Welt der Forex zu erkunden. Internationale Devisenkurse in US-Dollar (USD) Wie am Donnerstag, 12. Januar 2017, 04:00 GMT Forex Broker Verzeichnis Die Auswahl der besten Forex-Broker ist wichtig. In unserem Forex Broker Directroy youll finden Führer auf die Auswahl der besten Forex-Brokerfirma. (Pvt) Ltd. bull Habib Exchange (Pvt) Ltd. Stier Habib Exchange Co. Pakistanische Broker Weltweite Forex Broker Pakistan Offene Marktpreise in Pak Rupie (PKR) Federal Finanzminister und Vorsitzender Laws Review Committee, Senator Mohammad Ishaq Dar, hielt heute im Punjab House, Islamabad, eine Pressekonferenz ab, in der er unter der Äußerung des Premierministers Nawaz Sharif vom 05. Januar 2017 das Gesetzesüberprüfungsgremium geprüft und Die vorgeschlagenen Änderungen in Abschnitt 15 und die Ersetzung von Abschnitt 25 der nationalen Rechenschaftsverordnung, 1999 (ldquoNAOrdquo). Mit Zustimmung des Ministerpräsidenten und des Bundeskabinetts hat die Regierung beschlossen, unverzüglich die nationale Rechenschaftspflichtverordnung 2017 zu verabschieden, um die vorgenannten Änderungen sofort wirksam zu machen. Die Verordnung wird in der Senatssitzung am Montag, den 09. Januar 2017, gelegt. Vor der Verkündung der nationalen Rechenschaftspflichtverordnung (2017) enthält die NAO Bestimmungen für freiwillige Rückgabe und Klageerlass. Die Rückstellung für die freiwillige Rückführung führte nicht zur Disqualifikation eines öffentlichen Amtsträgers oder zur Entlassung eines Regierungsbediensteten, der freiwillige Rückführungsvereinbarungen trifft. Auch bedurfte es keiner Zustimmung des Rechenschaftsgerichts. Das Ergebnis war, dass eine korrupte Person, die freiwillig den Erlös der Korruption zurückgibt, weiterhin ein öffentlicher Amtsträger oder ein Staatsdiener sein könnte. Die Klauselverfügung erforderte die Zustimmung des Gerichtshofes, aber die Disqualifikation für ein öffentliches Amt war nur für zehn Jahre vorgesehen. Dementsprechend hat das Gesetzesüberprüfungsausschuss bestimmte Änderungsvorschläge vorgelegt, deren hervorstechende Merkmale wie folgt aussehen: (i) Die Bestimmungen der freiwilligen Rückkehr und des Klagegrundes wurden zusammengeführt. (Ii) Eine freiwillige Rückführungsvereinbarung unterliegt nun der Zustimmung des Gerichtshofs und steht nicht im Ermessen des Vorsitzenden NAB. (Iii) Die Person, die eine solche Vereinbarung abgeschlossen hat, gilt als rechtskräftig und a) sie wird von einem öffentlichen Amt disqualifiziert und b) wenn sie im öffentlichen Dienst ohne finanzielle Unterstützung entlassen wird und danach nicht förderfähig ist Öffentliches Amt halten. (Iv) Eine Person, die der Gerichtshof wegen Korruption und korrupter Praktiken verurteilt hat, hört nicht mehr auf, öffentliche Ämter zu führen, und wird in Zukunft disqualifiziert. Nach der Verkündung der nationalen Rechenschaftspflichtverordnung 2017 werden die vorgenannten Änderungen mit sofortiger Wirkung wirksam. Darüber hinaus hat die Redner-Nationalversammlung in Einklang mit den einstimmigen Anträgen der Nationalversammlung und des Senats in Absprache mit dem Vorsitzenden, dem Senat und den Vorsitzenden der Parlamentsparteien einen 20-köpfigen Parlamentsausschuss gebildet, der aus 13 MNAs und 07-Senatoren ldquoto revisit besteht Die Nationale Rechenschaftsverordnung 1999 und empfiehlt die notwendigen Änderungen hiervon. Der Ausschuss wird voraussichtlich seine Arbeit in der Woche beginnen, die am 09. Januar 2017 beginnt. Der Finanzminister wurde auf der Pressekonferenz von Herrn Zahid Hamid, Minister für Recht und Justiz, Frau Anusha Rahman, Staatsminister für IT amp Telecom, begleitet , Khawaja Zaheer Ahmed, Sonderbeauftragter des Premierministers und Barrister Zafarullah Khan, Sonderassistent des Premierministers für Recht. Finanzminister unter dem Vorsitz einer Sitzung des National Price Monitoring Committee Die Sitzung am 06. Januar 2017 im Bereich Finanzen unter dem Vorsitz des Senators Mohammad Ishaq Dar Bundesminister für Finanzen, Einnahmen, Wirtschaft, Statistik und Privatisierung. An der Sitzung nahmen Vertreter aus den Provinzen Punjab, Sindh, Khyber Pakhthunkhwa, Islamabad Capital Territory, Industrieministerien, Justiz, Handel, nationale Ernährungssicherheit und Forschung, Kabinett, Planungsentwicklung und - reformen, interprofessionelle Koordination und Statistik teil Abteilung, Pakistan Bureau of Statistics, Utility Stores Corporation und Federal Board of Revenue. Die Sitzung wurde mitgeteilt, dass die Headline-Inflation von CPI gemessen stieg um 3,7 im Dezember 2016 im Vergleich zu 3,8 Prozent im Vormonat und 3,2 im Dezember letzten Jahres. Im Jahresdurchschnitt lag er bei 3,88 im Vergleich zu 2,08 im entsprechenden Vorjahreszeitraum. Auf monatlicher Basis blieben die CPI - und die Nahrungsmittelinflation am niedrigsten um -0,7 und -1,9 seit Februar 2015. Der CPI wird gebändigt und kontrolliert. Die übrigen Inflationsindikatoren sind ebenfalls enthalten. Die Sitzung notierte stetigen Rückgang der SPI seit der letzten Woche im November 2016. Es aufgezeichnet kontinuierliche sechs wöchentlichen Rückgang der Lebensmittelinflation auf 3,0 Prozent im Dezember 2016 im Vergleich zu 3,3 Prozent des Vormonats gebracht hat, während Non-Food-Inflation blieb auf dem gleichen Niveau des Vormonats bei 4,2 Prozent, während die Kerninflation stieg um 5,2 Prozent im Vergleich zu 5,3 Prozent der Vormonate und SPI und WPI im Dezember 2016 mit 0,5 Prozent bzw. 3,1 Prozent verglichen mit 0,6 Prozent und 2,6 Prozent im Vormonat. Die Sensitive Price Indicator (SPI) für die Woche am 5. Januar 2017 endete um 0,12. Von 53 Posten waren Nine (09) Posten, die in ihren Preisen sanken, Tomaten 10,20, Kartoffeln 5,02, Chicken 4,63, Mash Pulse 1,29, Onions 0,91, Knoblauch 0,87, Moong Pulse 0,57, Masoor Pulse 0,06 und Red Chilly Powdered 0,05. Der Rückgang der Preise von 09 Artikeln führte zu einem Rückgang des SPI um 0,26 Prozent. Sechszehn (16) Posten verzeichneten einen Anstieg der Preise einschließlich Zucker 1,64, Eier 1,55, Bananas 1,51, LPG 1,22, Reis Irri-6 0,61, Reis Basmati 0,47, Mutton 0,38, Weizen 0,17, Gram Pulse 0,10 und Weizenmehl 0,08 . Die Preise von 28 (28) Posten blieben stabil, was zeigt, dass es insgesamt Preisstabilität im Land gibt. Die Versammlung notierte die Preisbewegung der wesentlichen Einzelteile auf Monat auf Monat und Jahr auf Jahresbasis. Es wurde festgestellt, dass die Preise für Weizen, Weizenmehl, Huhn, Zwiebeln, Tomaten, Speiseöl, Gemüse Ghee, Masor Puls, Moong Puls, Maische Puls im Dezember 2016 im Vergleich zum entsprechenden Monat des Vorjahres sank. Die Preise für Speiseöl, Gemüse Ghee lose, Gemüse Ghee (Zinn), Huhn, Banane, Tomaten, Reis Basmati, Reis irri und Senföl sind viel niedriger als 2013 Preise. Das Treffen stellte auch die zunehmende Preisentwicklung für Eier, Knoblauch, Milchpulver (NIDO), Rindfleisch, Hammelfleisch, Gramm Puls fest. Der Minister äußerte sich besorgt über die zunehmende Entwicklung dieser Nahrungsmittelwaren und leitete das Ministerium für nationale Kommission für Lebensmittel - und Wettbewerbsfragen Pakistans, um die Situation genau zu überwachen, das nicht gemeldete Monopol zu kontrollieren, Korrekturmaßnahmen zu ergreifen und jegliche Kartellierung, insbesondere in Milch und Fleischerzeugnissen, zu stoppen und jeglichen erwarteten Anstieg der Preise von Impulsen abzuschwächen. Für Gramm pulsierte er Ministerium der nationalen Nahrung und der Sicherheit und USC, um interministerielle Konsultationen mit allen Stakeholdern durchzuführen, um irgendeine abnorme Spitze in den Preisen anzusprechen. Er äußerte sich weiter besorgt über die leichte Erhöhung der Preise für Zucker und geleitet Ministerium für Handel, um wachsam überwachen die Preise und wenn es irgendeine unberechenbare Bewegung, geeignete Maßnahmen Abhilfemaßnahmen. Im Hinblick auf die Preise für Rindfleisch und Hammelfleisch, leitete er das Ministerium für nationale Lebensmittel und Sicherheit zu übernehmen alle Stakeholder und ergreifen Korrekturmaßnahmen, um Schmuggel einzudämmen. Er riet den Provinzialregierungen, wachsam zu sein, die Preise zu kontrollieren. Das Treffen auch überprüft die wesentliche itemrsquos Preise in sasta bazaars und offenen Märkten und stellte fest, dass die Preise sind deutlich niedriger in sasta bazaars im Vergleich zu offenen Märkten. Der Minister forderte, dass die Menschen von diesen Basaren profitieren sollten. Das Treffen stellte auch fest, die Veränderung der Preise für ausgewählte wesentliche Küchenartikel in niedrigen und kombinierten Einkommen Gruppe in der laufenden Woche am 5. Januar 2017 im Vergleich zur Vorwoche und der entsprechenden Woche des Vorjahres. Die Sitzung stellte fest, dass in niedrigen und kombinierten Einkommensgruppe der Preisindex um 0,29 und 0,24 Basispunkte sank. Das Treffen überprüfte auch den regionalen Preisvergleich der wesentlichen Rohstoffe zwischen Islamabad, Neu Delhi und Dhaka und beobachtete, dass die Preise von Neun (09) Artikel Weizen, Weizenmehl, Hühnerfarm, Benzin, Diesel, Reisbasmati, Zucker, Maischepulse und Rindfleisch sind die niedrigsten in Pakistan im Vergleich zu Neu-Delhi und Dhaka und zweitniedrigsten in neun (09) Elemente, die Zwiebeln, moroor Puls, Moong Puls, Eier, Gramm Puls, Gemüse Ghee, Milch frisch, rote Chilischoten und Tomaten gehören. Die Sitzung stellte fest, dass die Preise unter den Provinzen stabil sind. Finanzminister unter dem Vorsitz einer Sitzung der ECC Der Bundesminister für Finanzen Senator Mohammad Ishaq Dar Vorsitz der Sitzung des Economic Coordination Committee (ECC) des Kabinetts hier am Premierministerrsquos Büro heute Morgen. Die ECC billigte den Vorschlag der Abteilung für Planung, Entwicklung und Reform auf Ersuchen der Regierung von Punjab, Abgaben von der Quellensteuer über 6 des EampM-Vertragspreises hinaus zu gewähren und von den Steuern für die Einfuhr von Geräten, die für den Lahore Orange Line Metro Train installiert werden sollen Projekt. Das ECC entschied auch, dass eine ähnliche Verteilung auch auf die anderen Eisenbahn-Transitprojekte in Karachi, Peschawar und Quetta zu gegebener Zeit ausgedehnt würde. Das ECC wurde darüber informiert, dass das Lahore Orange Line Metro Train Projekt Teil des China Pakistan Economic Corridor (CPEC) zusammen mit schienenbasierten Massenverkehrsprojekten in anderen Provinzhauptstädten auf dem kürzlich abgeschlossenen Treffen des 6. Joint Cooperation Committee (JCC) wurde In Peking, China. Finanzminister leitet computergesteuerte Stimmabgabe für Wirtschaftsprüfungsgesetz 2015 Minister für Finanzen, Senator Muhammad Ishaq Dar sagte, dass die Regierung keine Steuerverweigerer in jedem Fall tolerieren würde, und die kommende Zeit wäre für sie sehr schwierig. Er versicherte jedoch, daß die Steuerzahler, die ihre Steuern ehrlich zahlen würden, weiter erleichtert würden. Angesichts einer Zeremonie in der FBR durchgeführt, um computergesteuerte Abstimmung für das Audit für Steuerjahr 2015 (Einkommensteuer, Umsatzsteuer und Federal Excise Duty) durchzuführen, sagte der Finanzminister, dass die für Audit ausgewählt haben sollten keine Sorgen, wenn sie ehrliche Steuerzahler waren. Er sagte, aufgrund der harten Anstrengungen der Regierung, Pakistan gelungen, ein Unterzeichner des multilateralen Übereinkommens der Organisation für wirtschaftliche Zusammenarbeit und Entwicklung (OECD) zu werden, und Pakistan könnte jetzt Zugang zu Informationen über die Steuerverursacher irgendwo in der Welt. Das ist, warum ich sage, dass Steuerverweigerer können nicht irgendwo und letztlich müssen sie ihre Steuern ehrlich zu zahlen, ansonsten müssten sie rechtlichen Prozess zu Gesicht, Dar hinzugefügt. Er richtete auch die FBR Beamten, die Steuerzahler nicht zu belästigen, und sie sollten nicht mit schwerer Übergebung behandelt werden, jedoch forderte er die FBR auf, Steuerbestimmung sicherzustellen. Finanzminister sagte, dass aufgrund von Strukturreformen und strikter Haushaltsdisziplin, die Regierung gelungen, die Erhebung der Einnahmen um 60 Prozent in drei Jahren in der Erwägung, dass in 2012-13 die Erhebung Erhebung Anstieg 3,38 Prozent. Heute Pakistans sozio-ökonomischen Zustand ist viel besser als, dass es im Jahr 2013 war, als das Land am Rande der Ausfall war, bemerkte er. Er sagte jedoch, dass es viel zu tun, um das Land unter den Top-18-Ländern bis 2030 zu bringen. Jetzt ist der gesamte Schwerpunkt der Regierung auf Exporte Wachstum, Landwirtschaft und Dienstleistungen führte Wirtschaftswachstum, wie es viel Platz in diesen Sektoren zu entwickeln, fügte er hinzu. Der Minister sagte jetzt Pakistan würde nicht nur kommen aus der Energie-Krise im Jahr 2018, aber es wäre auch ein Energie-Überschuss-Land geworden. Wir haben die Lastabwurfzeit von 16 auf 20 Stunden täglich im Jahr 2013 auf nur vier Stunden jetzt und aufgrund einer Reihe von Energieprojekten, die auf dem Land, fügte er hinzu. Der Finanzminister sagte, dass dieses Land Zukunft hell war und jeder Bürger sollte es besitzen und an seiner Entwicklung teilnehmen. Er sagte, dass dieses Jahr auch nur 7.5 Prozent der Gesamtsteuerzahler durch computerized Abstimmungprüfung ausgewählt worden sind und ihre Prüfung transparent durchgeführt würde. Haroon Akhtar Khan sagte früher, dass Minister für Staatliche Staatseinnahmen, ohne Audit, Selbstbewertungssysteme nicht erfolgreich sein könnten. Er sagte, dass die Abstimmung total computerisiert war und es keine Chance für irgendein Missmanagement gab. Vorsitzender FBR, sagte Nisar Muhammad Khan, um die Steuer-Kultur und die Einhaltung zu fördern viele Audit-Politik wurden in der Vergangenheit gestartet, aber die neueste Politik, die vor ein paar Tagen genehmigt wurde sorgfältig unter Berücksichtigung der Weisheit und Erfahrung aus der Vergangenheit Politik abgeleitet wurde . Er sagte, die Audit-Politik, 2016 hatte vorgeschlagen, einen Paradigmenwechsel von der zufälligen Wahl zum parametrischen Auswahl und risikoorientierten Ansatz. Dieser Ansatz würde die Chancen der Auswahl der konformen Steuerzahler zu minimieren, was zu einem erhöhten Vertrauen in das System, sagte er und fügte hinzu, dass diese neue Tendenz in Steuerzahler Audit würde nicht nur die Einhaltung der bestehenden Steuergesetze, sondern auch generieren erhöhte Einnahmen durch bessere Erklärung für besser Öffentlichen Ausgaben der Regierung. Nach den Ergebnissen der computergestützten Abstimmung von Prüfungsfällen, wählte FBR 82.090 Fälle von insgesamt 1094.507 Steuererklärungen für Einkommensteuer nicht Unternehmenssteuerzahler. Ebenso wurden für die Umsatzsteuer nicht-Unternehmen 7.976 Fälle ausgewählt, während für die Umsatzsteuer Körperschaftsteuerzahler 986 Fälle für Audit ausgewählt wurden und 30 Fälle wurden für die Prüfung von Federal Excise Duty (Unternehmenssektor) ausgewählt und 21 Fälle wurden für FED nicht Unternehmenssektor ausgewählt. Finanzminister forderte stärkere Durchsetzung der AMLCFT Gesetze in Pakistan Finanzminister Senator Mohammad Ishaq Dar einen Treffen geleitet, um die Anti-Money LaunderingCombating Finanzierung des Terrorismus Regimes (AMLCFT) Regime in Pakistan zu diskutieren. An der Sitzung nahmen auch die leitenden Angestellten des Bereichs Finanzen teil, darunter auch die Financial Monitoring Unit (FMU). Die DG (FMU) informierte die Teilnehmer über die Maßnahmen, die zur Umsetzung der von der Bundesregierung eingeleiteten AMLCFT-Reformen durch Änderungen des Anti-Geldwäsche-Gesetzes von 2010 und des Anti-Terror-Gesetzes von 1997 in den letzten 3 Jahren durchgeführt wurden. Die DG (FMU) teilte mit, dass die nach dem AML-Gesetz 2010 erarbeitete Kette von Finanznachrichten über einen längeren Zeitraum wesentlich verbessert worden war, vor allem durch den Aufbau von Kapazitäten von berichtenden Unternehmen, FMU und Strafverfolgungsbehörden. Der Minister wurde über die Maßnahmen informiert, die im Rahmen des Nationalen Aktionsplans - Chocking-Finanzierung des Terrorismus - getroffen wurden, um den Finanzsektor von jeder Verwendung der verbotenen Einrichtungen und der damit verbundenen Personen zu isolieren. Er wurde auch über die jüngsten Maßnahmen der Behörden zur Einfrierung der Vermögenswerte von Personen aufgeführt, die in der Liste IV des Anti-Terror-Gesetzes 1997 aufgeführt sind. Während die Arbeit, die bisher für die Durchsetzung der AMLCFT-Gesetze in Pakistan geleistet wurde, forderte der Finanzminister Stärkere Durchsetzung, um sicherzustellen, dass die Bedrohung der Geldwäsche beseitigt wird und der Zugang von Terroristen zu Finanzen effektiv verweigert wird. Finanzminister betonte die Notwendigkeit für die frühe Promulgation des neuen Gesellschaftsrechts Finanzminister Senator Mohammad Ishaq Dar unterstrich die Notwendigkeit für die frühe Verkündung des neuen Gesellschaftsrechts, die mehr als 32 Jahre alte Gesetz ersetzen wird. Während der Sitzung des Unterausschusses des Ständigen Finanzausschusses der Nationalversammlung, der heute hier stattfindet, sagte der Finanzminister, dass das neue Gesetz nach gründlicher Forschung in verschiedenen internationalen Jurisdiktionen, dem Einsatz von Technologie, Praktiken. Er informierte die Ausschussmitglieder, dass vor der Finalisierung ein umfassender und umfassender Beratungsprozess mit den Stakeholdern durchgeführt wurde. Der Minister erklärte, dass er am Wochenende mehrere Sitzungen mit dem SECP abgehalten habe, um die fristgerechte Fertigstellung aller neuen Rechtsvorschriften sicherzustellen. Er schlug vor, dass die Unterausschüsse der beiden Häuser zusammen für die frühe Fertigstellung der Companies Bill, 2016, im nationalen Interesse sitzen sollten. Die neuen Bereiche, die durch das neue Gesellschaftsrecht eingeführt werden, umfassen das globale Vermögensverwaltungsregister, das Anlass zu Besorgnis für die Stakeholder gegeben hat. Doch nach der Panama-Lecks-Frage gab es weltweit eine globale Regulierung des wirtschaftlichen Eigentumsrechts und eine Reihe von Ländern einschließlich Großbritanniens haben Gesetze in diesem Bereich unternommen. Abgesehen von einigen Bedenken wurde die Verabschiedung der Gesellschaftsverordnung 2016 von der Mehrheit der Stakeholder gebilligt. Finanzminister sagte dem Ausschuss, dass er SECP beraten hat, vor dem Ausschuss alle betroffenen Vorschläge und Anregungen aus dem Presse-und Berufskreis für eine weitere Verbesserung des Gesetzes zu bringen. Er sagte, dass der Ausschuss alle diese Äußerungen mit einem offenen Geist berücksichtigen sollte, damit das neue Gesetz maximale Früchte in der Frage der Vereinfachung des Handelns, der guten Regierungsführung und der Entwicklung des Unternehmenssektors bringt. Finanzminister unter dem Vorsitz einer Sitzung zur Überprüfung Tarbela Dam 5. Verlängerung Hydro-Power-Projekt Finance Minister, Senator Mohammad Is gehütete Dar eine Sitzung heute hier im Finanzministerium über die Tarbela Dam 5th Extension Hydropower Project. Land Direktor Weltbank HerrPatchamuthu Illangovan informierte den Finanzminister, dass Kredite von der internationalen Bank für Wiederaufbau und Entwicklung (IBRD) und der asiatischen Infrastruktur-Investitionsbank (AIIB) für das Tarbela Verdammung 5. Verlängerungs-Wasserkraft-Projekt angeordnet wurden. Er informierte, dass IBRD US 390 Millionen leihen wird, während AIIB 300 Millionen Dollar für das Projekt leihen wird. Er teilte auch mit, dass zwei Bauaufträge im Wert von 2 Milliarden US $ für das Dash-Wasserkraft-Projekt ebenfalls zur Unterzeichnung bereit sind. Er erarbeitete, dass beide Verträge an den niedrigsten bewerteten Bieter vergeben wurden. Finanzminister schätzte die Unterstützung der Weltbank, IBRD und AIIB bei der Organisation der Darlehen für die Tarbela Dam 5th Extension Hydropower Project. Er sagte, dass Energiereformen eine der wichtigsten Prioritäten der gegenwärtigen Regierung sind. Er betonte, dass die Regierung aktiv auf die Beseitigung der Lastabwürfe, die Gewährleistung der Selbstversorgung der Energie für das Land und die Bereitstellung von billiger Energie zu erschwinglichen Preisen für die Menschen in Pakistan arbeiten. Er sagte, dass Tarbela Dam ein wichtiger und historischer Staudamm für Pakistan ist, und seine erfolgreiche Verlängerung, mit Hilfe der Finanzierung, die von IBRD und AIIB zur Verfügung gestellt wird, wird einen langen Weg bei der Erreichung der Regierungszielen Ziele für den Energiesektor des Landes. Die Sitzung wurde von der Auditor General für Pakistan und leitende Beamte des Ministeriums für Finanzen, Ministerium für Wasser amp Macht und der Weltbank besucht. Acting US-Botschafter bezahlt Höflichkeit forderte den Finanzminister Acting US-Botschafter Herr Jonathan Pratt bezahlte eine Höflichkeit Aufruf an den Finanzminister Senator Mohammad Ishaq Dar hier im Finanzministerium heute. Finanzminister und Herr Pratt diskutierten Fragen des bilateralen Interesses, einschließlich der Handels - und Wirtschaftsbeziehungen zwischen Pakistan und den USA. Herr Pratt sagte, dass Pakistan ein wichtiger Verbündeter der USA ist. Er sagte, dass eine Verbesserung sowohl in der Sicherheitslage als auch in den makroökonomischen Indikatoren das Vertrauen für US-Investitionen in Pakistan verstärkte. Finanzminister sagte, dass, nachdem sie makroökonomische Stabilität erreicht hat, die Regierung jetzt auf die Erreichung eines höheren, nachhaltigen und integrativen Wirtschaftswachstums konzentriert. Er schätzte die langjährige strategische Partnerschaft zwischen Pakistan und den USA. Er zeigte sich zuversichtlich, dass sich die Beziehungen zwischen Pakistan und den USA unter der neuen US-Regierung noch verstärken werden. Der britische Abgeordnete traf sich mit dem Finanzminister Rt. Hon Khalid Mahmood Britisches Parlamentsmitglied für Birmingham Perry Barr, ein Schatten Minister für auswärtige Angelegenheiten und Commonwealth-Angelegenheiten forderte den Finanzminister Senator Mohammad Ishaq Dar hier heute und diskutierte Möglichkeiten der Expansion in bilateralen Handel und Investitionen zwischen Pakistan und britischen M. P. Sagte, dass nach Brexit von der EU, Großbritannien schauen, um bilaterale Handel und Investitionsmöglichkeiten in anderen Ländern einschließlich Pakistan zu erweitern. Er sagte, dass Großbritannien und Pakistan langjährige politische, wirtschaftliche und soziale Bindungen genießen. Er erwähnte, dass sein Land weiterhin erhebliche Beiträge zur Entwicklung in Pakistan über die Jahre zu leisten. Er betrachtete die Aussicht auf eine verstärkte Zusammenarbeit zwischen den beiden Ländern, vor allem im Bereich Handel und Investitionen. Der Finanzminister sagte, Pakistan schätze seine seit langem bestehenden Beziehungen mit dem Vereinigten Königreich und hoffe, die bilateralen Beziehungen weiter zu stärken. Der Finanzminister sagte, dass die Regierung von Pakistan und das Finanzministerium freuen sich, eng mit Großbritannien auch in Zukunft. Er begrüßte den Vorschlag des britischen Parlaments, den Handel und die Investitionen mit Pakistan zu intensivieren und ihm alle Unterstützung und Unterstützung zuzusichern. Der Finanzminister schätzte auch die Beiträge der pakistanischen Herkunft britischen Bürger für die Stärkung der beiden Beziehungen Beziehungen. Er dankte der Unterstützung der pakistanischen Diaspora in Großbritannien für die Förderung enger Beziehungen zwischen den beiden Ländern und die Unterstützung der Kaschmir Ursache. Finanzminister unter dem Vorsitz einer Sitzung zur Überprüfung der Angelegenheiten im Zusammenhang mit Privatisierung Bundesminister für Finanzen, Einnahmen, Wirtschaft, Statistikamp Privatisierung, Senator Mohammad Ishaq Dar, Vorsitz einer Sitzung heute hier im Finanzministerium, um Fragen im Zusammenhang mit Privatisierung zu überprüfen. Vorsitzender Privatisierungskommission Mohammad Zubair unterrichtete den Minister über das Privatisierungsprogramm, das vom Kabinett Komitee für Privatisierung (CCOP) genehmigt wurde. Er unterrichtete den Minister über den Status der laufenden Privatisierungsgeschäfte und Nachprivatisierungsangelegenheiten. Er unterrichtete auch den Minister über die Durchführung der Privatisierungskommission für die sechs Monate bis zum 31. Dezember 2016. Finanzminister betonte, dass die Privatisierungskommission alle notwendigen Anstrengungen unternehmen sollte, um die laufenden Geschäfte rechtzeitig im Einklang mit den Verfahren, die in Die Privatisierungsverordnung, 2000. Er drängte die Privatisierungskommission, sicherzustellen, dass Privatisierungsgeschäfte offen, fair und transparent durchgeführt werden. Er sagte, dass die Privatisierung Programm ist ein wichtiger Bestandteil der gegenwärtigen governmentrsquos home-grown Strukturreformen Agenda. An der Sitzung nahmen hochrangige Beamte des Ministeriums für Finanzen und Privatisierung teil. Finanzminister unter dem Vorsitz einer Sitzung zur Überprüfung der wirtschaftlichen Leistungsfähigkeit Finanzminister Senator Mohammad Ishaq Dar Vorsitz eines Treffens hier heute zur Überprüfung der wirtschaftlichen Leistungsfähigkeit in den sechs Monaten bis zum 31. Dezember 2016. Finanzminister darauf hingewiesen, dass das BIP-Wachstum scheint auf aufwärts Trajektorie und Inflation war stabil Unter 4 im Dezember 2016, während die durchschnittliche Inflation im Juli-Dezember 2016 bei 3,88 registriert wurde, was die anhaltende Preisstabilität widerspiegelt. Finanzminister notierte FBRrsquos Leistung bei herum 7 für den sechsmonatlichen Zeitraum, der im Dezember 2016 endete und reflektiert Aufholen des Fehlbetriebes, der in den Anfangsmonaten erlebt wird, hauptsächlich wegen des Gebens Erleichterung zu den Verbrauchern auf Erdölpreisen zusammen mit Verkaufssteuerrückerstattungen von Rs. 45 Milliarden. Auf der Ausgabenseite war die Performance auf dem richtigen Weg, da die Ausgaben nach dem Budget sorgfältig und unter Berücksichtigung des Umsatzwachstums zulässig waren. Der Finanzminister stellte zwar die Zufriedenheit über die jüngsten Wirtschaftsentwicklungen zur Kenntnis, stellte jedoch fest, dass die Wirtschaftstätigkeit zunimmt, insbesondere in CPEC-Projekten, die nach dem jüngsten Verständnis mit den chinesischen Behörden zur weiteren Ausweitung des Geltungsbereichs von CPEC weiter beschleunigt werden Einschließlich Wassersicherheit, Karachi Circular Railway, Massentransit-Programm für Baluchistan, Projekte für Khyber Pakhtunkhwa und Rehabilitation des Eisenbahn-Projekts. Er bemerkte weiter, dass Pakistan in Zukunft ein steigendes Wachstum und mehr Beschäftigungsmöglichkeiten erleben werde. An der Sitzung nahmen der Finanzsekretär und leitende Beamte des Finanzministeriums teil. Finanzminister adressiert bei der IT-Ministerium-Funktion Finanzminister Senator Mohammad Ishaq Dar sagte am Montag, dass die Regierung war entschlossen, Digitalisierung im ganzen Land für die Förderung der Reichweite und den Zugang von Finanzdienstleistungen für Menschen für eine nachhaltige Entwicklung zu fördern. Dieses Projekt wird der Bevölkerung in den noch nicht bewirtschafteten Gebieten Awaran-Lasbela Lot, die aus nicht identifizierten, 269 Mauzas in Balochistan besteht, mit mobilen Breitband-Internet-3G-Diensten ausgestattet, wobei eine ungefähre Bevölkerungszahl von 196.177 für eine Fläche von 39.434 qm besteht. Ft. Finanzminister sagte, dass die nationalen Schatzamt so viele wie Rs160 Milliarden durch sechs transparente Auktionen von Telekom-Spektren verdient, fügte hinzu, dass die Erträge aus dem Spektrum erwartet wird, um Rs200 Milliarden erreichen. Er sagte, dass früher nur Rs50 Milliarden aus der Auktion des Telekommunikationsspektrums geschätzt wurden, aber mit Sorgfalt und Transparenz-Mechanismus, hat es multifold Anstieg der Ergebnisse. Chief Guest der Zeremonie Finanzminister bekräftigte Regierung rsquos beschließen, Internet-und mobilen Zugriff im ganzen Land bieten, so dass auch die abgelegenen Gebiete würde auch im Netzwerk zur Förderung der Digitalisierung abgedeckt werden. Er sagte, dass die Dörfer, die sogar Bevölkerung von gerade 100 Leuten haben, auch unter dem Netz bedeckt werden würden. Obwohl es nicht finanziell tragfähig war, aber die Bereitstellung dieser Dienstleistungen und Einrichtungen für das gemeinsame Volk war die Pflicht des Staates, fügte er hinzu. Der Finanzminister sagte, dass die Regierung wurde konzentriert, um Infrastruktur zu bauen, so dass die Aufmerksamkeit ist auf die Entwicklung von Telekommunikation, Autobahnen und Schienen, um eine ordnungsgemäße Konnektivität zu gewährleisten. Er sagte, dass wegen der besseren Konnektivität, begann der Regierungskick Multan-Sukkhar-Projekt trotz der Tatsache, dass es nicht finanziell tragfähig war. Der Minister sagte, dass die internationalen Institutionen vorhersagen, dass Pakistan die 18 größte größte Volkswirtschaft bis 2050 werden würde. Die Herausforderung für die Nation ist es, dieses Ziel in einer halben Zeit zu verwirklichen, wie es im Fall der makroökonomischen Stabilität getan wurde, die vorhergesagt wurde Die Wirtschaftsexperten in sechs Jahren, aber die aktuelle Regierung von Nawaz Sharif erreicht in nur zwei und halben Jahren. Der Minister sagte, dass die Fusion aller Börsen von Pakistan in Pakistan Stock Exchange (PSX) am 11. Januar 2016 wurde mit Früchten, wie es hat sich zum fünften schnellsten Durchführungsaustausch jetzt. Es war keine leichte Aufgabe, die bis zum letzten 15 Jahre anhängig war, aber die gegenwärtige Regierung tat es, fügte er hinzu. Finanzminister sagte, dass aufgrund der unermüdlichen Bemühungen der Regierung, die Last-Shedding wurde bis zu drei Stunden in Städten und Frour Stunden in ländlichen Gebieten reduziert. Früher, als diese Regierung die Macht im Jahr 2013 übernahm, wurden die Stromausfälle von 14 Stunden in Städten und 17 Stunden in ländlichen Gebieten aufgezeichnet, erwähnte er. LdquoDie Dunkelheit würde vollständig bis 2018 verschwunden sein, rdquo er bemerkte. Früher gab Staatssekretärin für Informationstechnologie und Telekommunikation Anusha Rahman eine detaillierte Darstellung der Gesamtleistung des Telekommunikationssektors. Er gratulierte der Ministerin Anusha Rehman und ihr ganzes Team von Ministerium für IT, PTA und USF für ihre Wahrzeichen Errungenschaften in der Arena der IKT. Finanzminister kündigte neue Erdölpreise mit Wirkung vom 1. Januar 2017 Finanzminister Senator Ishaq Dar angekündigt, heute die Governmentrsquos Politik über Erdölprodukte Preise für den Monat Januar 2017. Er sagte, dass Ministerium für Petroleum amp Natural Resources und OGRA haben eine Erhöhung der Preise empfohlen Vom 1. Januar 2017 um 0,5 in MS 92 RON Benzin, 5,2 in HSD, 16 in Kerosinöl und 8 in LDO mit Wirkung vom 1.Januar 2017, die sich zu Rs. 0,31 Liter in MS 92 RON Petrol, Rs. 3.94Liter in HSD, Rs. 3.48Liter in LDO und Rs.6.93Liter in Kerosinöl. Die vorgeschlagene Erhöhung der Preise für Kerosin, LDO und MS Petrol basiert auf den reduzierten Umsatzsteuersätzen für diese drei Erdölprodukte. Für den Fall, dass die volle Umsatzsteuer von 17 auf diese Produkte erhoben wird, ergibt sich für diese Produkte ein Anstieg der Rs. 14,31 pro Liter in Kerosinöl, Rs. 10,11 pro Liter in LDO und Rs. 1,77 bei MS Benzin. Um die Stabilität seit April 2016 aufrechtzuerhalten, wurden die Preise trotz der Fluktuation der internationalen Preise beibehalten, und die Regierung hat die negativen finanziellen Auswirkungen aufgrund der Regierungsbeschlüsse, die den Endverbrauchern nicht zugestanden haben, absorbiert. Nur eine Teilerhöhung von MS Petrol und HSD von dem, was von OGRA empfohlen worden war, wurde an die Endverbraucher für nur den Monat Dezember 2016 weitergegeben. Im Einklang mit den Anweisungen des Premierministers, um dem Gemeinsamen eine maximale Entlastung zu geben und zu behaupten, dass Kerosinöl und LDO wird von den Personen mit niedrigem Einkommen verwendet, wurde beschlossen, die Preise für Kerosin und LDO für den gesamten Monat Januar 2017 auf dem derzeitigen Stand zu halten. Es wurde auch entschieden, dass die Preise der MS RON 92 Petrol und HSD Werden eingefroren und bleiben auf dem aktuellen Niveau bis Mitternacht 15. Januar 2017 unverändert. Als Ergebnis der Entscheidung für nicht an die Menschen die tatsächliche Erhöhung der Preise für Erdölprodukte und die Aufrechterhaltung der Preise auf aktuellem Niveau, wird das Ministerium der Finanzen einen Umsatz zu tragen Verlust von Rs. 4 Milliarden ungefähr. Gouverneur State Bank forderte die Finanzminister Governor State Bank von Pakistan Herr Ashraf Mahmood Wathra forderte den Finanzminister Senator Mohammad Ishaq Dar hier heute. Gouverneur SBP informierte den Minister über die letzte Position der countryrsquos Devisenreserven. Er teilte dem Minister mit, dass SBP am 30. Dezember 2016 den ersten Quartalsbericht für das Geschäftsjahr 2007 über den Staat Pakistanrsquos Economy veröffentlicht hat. Er sagte, dass nach dem Bericht vorläufigen makroökonomischen Daten signalisiert eine stabile Wachstumsdynamik im Laufe des Jahres. Gouverneur SBP auch beriet den Minister über die Fortschritte bei der Umsetzung der Nationalen Finanzeinbeziehung Strategie (NFIS). Der Minister äußerte sich für die Bemühungen der SBP. Er sagte, dass die derzeitige governmentrsquos Wirtschaftspolitik haben dazu geführt, dass Rekordwachstum in Pakistanrsquos Devisenreserven in den letzten drei Jahren und haben es Pakistan zu erreichen makroökonomische Stabilität. Er betonte, dass die Regierung nun auf ein höheres, integratives und nachhaltiges Wirtschaftswachstum fokussiert sei. Er sagte, dass die erfolgreiche Umsetzung von Maßnahmen wie NFIS wird eine Schlüsselrolle in dieser Hinsicht. Der britische Hochkommissar rief den Finanzminister des britischen Hochkommissars H. E. Thomas Drew called on the Finance Minister Senator Mohammad Ishaq Dar. The High Commissioner briefed the Finance Minister about the recent visit of the British Foreign Secretary Rt. Honourable Boris Johnson to Pakistan. He informed the Minister that the British Foreign Secretary had a very successful and productive visit and carried positive sentiments for Pakistanrsquos economic growth and development. The High Commissioner also apprised the Minister of the Foreign Secretaryrsquos meeting with CEOs of British companies operating in Pakistan, in which the companies expressed interest to bring more investments to Pakistan. The Finance Minister expressed appreciation for the Foreign Secretaryrsquos visit to Pakistan and for his encouraging words regarding Pakistanrsquos economic progress and future potential of Pakistan-UK trade ties. He assured the governmentrsquos full support to facilitate investments by British companies in Pakistan and new companies would be welcome. He said that there was interest from across the world to expand business and trade relations with Pakistan. Senator Dar said that Renault from France has recently announced that they would start manufacturing automobiles in Pakistan. The British High Commissioner said that British companies are successfully operating in Pakistan and that they provide a positive stimulus for fresh British investment in Pakistan. He also said that UK has a strong relationship with Pakistan across a broad spectrum of areas and the scale of engagement can be further enhanced with furthering British trade and investment to Pakistan. The Finance Minister said that Pakistan valued its long standing ties with the UK and hoped to strengthen bilateral relations further. He welcomed the proposal of the British High Commissioner to enhance trade and investment with Pakistan and assured him of all support and assistance. Chairman FBR and Secretary Economic Affairs Division also attended this meeting. U. S. Secretary of State telephone called to the Finance Minister U. S. Secretary of State John Kerry made a telephone call to the Finance Minister Senator Muhammad Ishaq Dar last night. Secretary Kerry appreciated the improvement in economic indicators of Pakistan. The Finance Minister shared the latest developments in the economy and the Pakistan Stock Exchange and said that all economic indicators had improved over the last three years. He also said that the government after having achieved macro-economic stability is now focused on achieving higher sustainable and inclusive economic growth. Secretary Kerry congratulated the Finance Minister on the economic recovery brought about by the government in Pakistan. He also recalled that his association with Senator Ishaq Dar went back to the days when he was Leader of the Opposition in the Senate. The Finance Minister warmly acknowledged his association with Secretary Kerry which goes back many years and said that he considered him a friend and supporter of Pakistan and it was always a pleasure to work with him. The Finance Minister congratulated Secretary Kerry on his statement of this week on the Middle East peace process and Palestinian rights. Secretary Kerry also said that the President World Bank had recently informed him about Pakistanrsquos complaint against India on the subject of Indus Waters Treaty. Secretary Kerry said that the US would like to see an amicable solution to this issue. The Finance Minister said that Indus Waters Treaty is an international commitment and it is the responsibility of the World Bank to make sure that India honors this. Treaty and the water rights of hundreds of millions of people of Pakistan are protected. He said that the Court of Arbitration is the legal requirement and appointment of the Chairman of the Court of Arbitration must be fulfilled by the World Bank. Finance Minister said that the President World Bank had been in touch with him in writing and also on telephone during the current month. Senator Dar indicated that US support on the principles and legal position of Pakistan will be greatly appreciated. The phone call ended with mutual exchange of good wishes and the Finance Minister and Secretary Kerry exchanged Seasonrsquos Greetings and best wishes for the upcoming 2017. US Ambassador H. E. David Hale called on the Finance Minister The US Ambassador H. E. David Hale called on the Finance Minister Senator Mohammad Ishaq Dar here at the Finance Ministry today. The Finance Minister and Ambassador Hale discussed the current status of trade and economic ties between Pakistan and the US. Ambassador Hale said that the US values its longstanding ties with Pakistan and considers Pakistan an important partner. He acknowledged the economic turnaround Pakistan has achieved over the last three years. The Finance Minister emphasized to Ambassador Hale that Pakistan is open for foreign investment and said that US investors should be encouraged to invest in Pakistan. He highlighted that, according to World Banks Doing Business 2017 report, Pakistan has moved up four places in the ease of doing business rankings and is also one of the top ten global improvers. He said that the European car manufacturer Renault has recently announced its automotive manufacturing plans in Pakistan, with production scheduled to commence in 2018. The Minister assured his full support for any potential US investors looking to pursue investment opportunities in Pakistan. The Finance Minister expressed confidence that the two countries will continue to work together for the promotion of bilateral economic relations. The meeting ended with mutual exchange of seasonrsquos greetings. Finance Minister chaired a meeting to review progress on the implementation of National Financial Inclusion Strategy (NFIS) Finance Minister Senator Mohammad Ishaq Dar chaired a meeting here today to review progress on the implementation of National Financial Inclusion Strategy (NFIS). The Finance Minister was briefed on the progress made on various financial inclusion initiatives and allied indicators approved by the NFIS Council in September, 2016. Finance Minister directed that all relevant stakeholders including NADRA, FBR, Provincial Governments, SBP and Ministry of Finance should work in close collaboration for increasing outreach and access of financial services to people across the country. He emphasized the need to adopt latest technologies for enhancing financial inclusion in a more efficient manner. The Finance Minister was informed that significant growth has been witnessed in the areas of Branchless Banking, Agriculture credit, microfinance, SME Finance and Islamic Banking since the launch of NFIS in May 2015.Finance Minister appreciated the efforts of all stakeholders involved in implementation of NFIS and for improving expansion of financial inclusion facilities in the country. Meeting was attended by senior officials of Ministry of Finance. Finance Minister chaired a meeting to review proposals of the AJK Council for AJK Budget 2016-17 The Federal Minister for Finance, Senator Mohammad Ishaq Dar, chaired a meeting here today to review proposals of the Azad Jammu amp Kashmir (AJK) Council for the AJK Budget 2016-17. The Finance Secretary briefed the Finance Minister on the proposals of the AJK Government and apprised the Minister on matters related to the AJK budget for Financial Year 2015-16 as well as Financial Year 2016-17. While reviewing the proposals for AJK Budget 2016-17, the Finance Minister said that the present government has always prioritized the welfare requirements of AJK. He emphasized that successful and timely implementation of development projects in AJK should be ensured. The meeting was attended by senior officials of the Ministry of Finance. Finance Minister chaired a meeting of ECC The Federal Minister for Finance Senator Mohammad Ishaq Dar chaired the meeting of the Economic Coordination Committee (ECC) of the Cabinet here at the Prime Ministerrsquos Office today. ECC has approved the proposal of the Ministry of Petroleum and Natural Resources regarding allocation of additional around 50 MMCFD available gas from Habib Rahi Limestone (HRL) reservoir to Thermal Power Station Guddu (TPSGGENCO-II) subject to installation of compression plant by TPSGGENCO-II and allocation of additional upto 26 MMCFD available gas from HRL reservoir to Ms Engro Fertilizer Ltdrsquos old plant for continuation of the plant. ECC recommended the proposal of the Revenue DivisionFBR for extension of the period of applicability of existing reduced withholding tax rate of 0.4 percent for non-filers of income tax returns from 1st January 2017 to 31st March 2017. The Finance Division apprised the ECC that State Bank of Pakistanrsquos (SBP) principal debt amounting Rs 54.460 billion outstanding against Zarai Taraqiati Bank Limited (ZTBL), as on December 31, 2015, is being converted into redeemable preference shares carrying a profit of 7.5 percent per annum, redeemable in 10 years in one bullet payment on December 31, 2025. In this regard, the ECC of the Cabinet approved issuance of guarantee of Rs 54.460 billion by the Government of Pakistan in favour of SBP for principal debt of the preference shares and returns thereon. ECC also decided to allow export of 225,000 MT of sugar from the surplus available after ascertaining that there would be 1.23 million metric tons of surplus sugar available in the country. ECC also decided that the Ministry of Commerce should ensure that there are adequate checks and balances available to maintain the price stability in the domestic market at the current level. In case the domestic price stability is disturbed, Commerce Ministry would bring Summary to consider cancelling the export permission to sugar exporters. Unlike previous years, it was decided that there will be no freight export rebate payable by the Government to sugar exporters on such exports. Furthermore, only those mills will be allowed to export which have cleared outstanding dues of farmers relating to the last season and have started crushing at full capacity. Finance Minister chaired Law Review Committee meeting The Finance Minister Senator Mohammad Ishaq Dar chaired a meeting of the Law Review committee here today. The Minister for Law and Justice, Zahid Hamid, Minister of State for Information Technology and Telecom, Anusha Rahman Khan, Special Assistant to PM on Law, Zafar Ullah Khan, Attorney General for Pakistan, Ashtar Ausaf Ali and Special Assistant to PM, Khawaja Zaheer attended the meeting. The Committee deliberated on legislative proposals to be tabled in the Parliament during the next session. The status of processing of various other legislative proposals, which are currently at draft stage, was also reviewed. The Committee also discussed the report recently submitted to the Parliamentary Committee on Electoral Reforms regarding the Draft Elections Bill 2017 and Draft Election Rules 2017. The Finance Minister said that the report has been shared with the Political Parties and also made public including uploading on the National Assemblyrsquos website to facilitate maximum consultation and enable wider consensus. Naval Chief of Staff called on Finance Minister Chief of Naval Staff Admiral Zaka Ullah Khan called on the Finance Minister Senator Mohammad Ishaq Dar here today and briefed the Minister about Pakistan Navy preparedness for safeguarding coastal boundaries of the country and measures taken for maritime security, particularly in the context of CPEC security. The Finance Minister said that National security is top priority of this Government and would extend all possible support to make the countryrsquos defense invincible. He said that Pakistan Navy is playing an important role in making Pakistan coastal defense impregnable and providing maritime security to sea lanes. Chief of Naval Staff also discussed naval development schemes and budget matters in the meeting. Ministry of Finance Dispels Demonetization Rumors The Official Spokesman of the Ministry of Finance has categorically denied the news reports and rumors circulating in a section of press and some business circles regarding demonetization of Rs.5000 note. The statement said Government has neither taken such a decision nor was there any justification for the discontinuation of Rs.5000 note. The Spokesman elaborated the position that the current denomination of highest value notes in Pakistan i. e. Rs.5000 was significantly smaller compared to those of major currencies such as 100 note, Euro 200 and Pound Sterling 50. During 2015-16, only 17 of the notes printed were of Rs.5000 denomination. Given the continuing use of cash in transactions, Government believes that discontinuation of Rs.5000 note would adversely affect the efficiency of exchange in the business and be a source of major discomfort and anxiety for the people. As such the very notion of cancellation of such convenience in transactions is preposterous and unequivocally denied. The Government further states that it is pursuing a National Financial Inclusion Strategy in association with the State Bank whereby digital transactions and branchless banking is being brought to the doorstep of people that would significantly reduce the dependence on currency. This is the way to move forward for promoting documentation in the economy rather than by cancelling any existing denomination. The Government hopes people would not lend their ears to rumors and trust the authentic word of their elected Government. Finance Minister takes notice of the fraud in National Bank of Pakistan The Federal Minister for Finance Senator Mohammad Ishaq Dar has taken a serious notice of the news item (also highlighted by a senior anchor in his recent program) regarding a fraud in the National bank of Pakistan amounting to more than a billion rupees. According to the news item the fraud had been committed in connivance with the senior bank officials, the most prominent amongst whom is an Assistant vice president of the Bank. The Finance Minister, after taking a serious notice of the news highlighted by the media, has tasked the Governor State Bank of Pakistan to investigate the matter and also send a report to the Finance Ministry within three days, so that the matter may further be proceeded in accordance with the rules. Finance Minister chaired a meeting to review matters related to SECP The Federal Minister for Finance, Senator Mohammad Ishaq Dar, chaired a meeting here at the Finance Division to review matters related to SECP. Chairman SECP briefed the Finance Minister on the legislative and reform measures being taken by the government to facilitate the corporate sector. The Finance Minister emphasized that the reforms being introduced by the government are meant to facilitate and regulate the corporate sector, in keeping with the international best practices, and use modern technology platforms. He appreciated the role of SECP in regulating the corporate sector, and in providing quality input towards policy formulation by the government to spur investment led growth. He urged SECP to continue undertaking measures to further facilitate the corporate sector. The meeting was attended by senior officials of the Ministry of Finance. Finance Minister chaired a meeting to review the measures taken by FBR on increasing the direct collection of taxes The Federal Minister for Finance Senator Mohammad Ishaq Dar chaired a meeting here at the Finance Division to review the measures taken by Federal Board of Revenue on increasing the direct collection of taxes. Chairman FBR, Nisar Mohammad Khan, briefed the Minister on the different models adopted by the countries around the world to increase the direct collection of taxes. The Finance Minister was presented different models to mobilize revenue generation by Chairman FBR and his team along with the necessary framework. The Finance Minister directed Chairman FBR to prepare a comprehensive plan that may be implemented through the next Finance Bill. The Finance Minister also directed FBR to take all measures that would facilitate the voluntary tax payers filers he also directed that there should be a clear distinction between filers and non-filers. The FBR will present their firmed up proposals in the next meeting which will be held soon. The meeting was participated by senior officials of the Finance Division and Federal Board of Revenue. WB delegation hold a meeting with Finance Minister The Federal Minister for Finance Senator Mohammad Ishaq Dar held a meeting with a World Bank delegation led by Country Director for Pakistan Mr. Patchamuthu Illangovan. The World Bank Country Director briefed the Minister regarding international best practices on anti-money laundering. He also briefed the Minister on the international best practices on corporate governance sector, global registry and relating to banking financial institutions. The Finance Minister informed the Country Director that the Government was actively working on ensuring a sound legislative and regulatory frame work to curb money laundering and ensure transparency in fiscal governance. The meeting was attended by senior officials of Ministry of Finance and World Bank. Finance Ministers letter to the President of WB on IWT Finance Minister Senator Mohammad Ishaq Dar sent a letter to Mr. Jim Yong Kim, President of the World Bank Group, Washington D. C. and responded to the World Bankrsquos decision to ldquopauserdquo the process of empanelment of the Court of Arbitration. Finance Minister emphasized in his letter that this decision of the World Bank will seriously prejudice Pakistanrsquos interests and rights under the Indus Waters Treaty (1960). The letter from the Finance Minister is a response to the President World Bankrsquos letter of 12th December, 2016. 2. The letter to the President World Bank has been sent with approval of all concerned stakeholders and strongly conveys that the matter of appointment of a Chairman of the Court of Arbitration has been inordinately delayed, while urging the World Bank to execute its obligations under the Indus Waters Treaty as the ldquochosen appointing authorityrdquo and ldquoappoint the Chairman of the Court of the Arbitration Indus Waters Treaty, expeditiouslyrdquo. 3. Finance Minister noted that the ldquopauserdquo proposed by the President World Bank Group will merely prevent Pakistan from approaching a competent forum and having its grievances addressed. The letter from the Finance Minister notes that the Indus Waters Treaty 1960 does not provide for a situation wherein a Party can ldquopauserdquo performance of its obligations under the Treaty. 4. The Finance Minister has stated that the letter of 12th December 2016 from the World Bank is a departure from the World Bankrsquos earlier position conveyed in its letter of 18thOctober 2016 in which it was stated: ldquoThe Bankrsquos role is limited in character, and relates only to the exercise of procedural functions which do not touch upon the factual or legal merits of the contested issuesrdquo. The Finance Minister emphasized that as acknowledged by the World Bank, ldquothe Bank has a well-defined role, which should remain consistent with the provisions of the Treatyrdquo. Finance Minister chaired a meeting to review matters related to Pakistan-China JCC The Finance Minister, Senator Mohammad Ishaq Dar, chaired a meeting here today to review matters related to the upcoming Pakistan-China Joint Cooperation Committee (JCC) meetings and CPEC. Secretary Planning, Development and Reforms briefed the Finance Minister on the implementation status of various projects under CPEC. Secretary Economic Affairs Division briefed the Minister on development assistance for ongoing and upcoming CPEC projects. The Finance Minister appreciated the ongoing efforts of Planning Division, EAD, FBR and all other stakeholders to make CPEC a success. He said that CPEC will provide a major impetus to Pakistanrsquos economy and will enable higher, inclusive and sustainable economic growth. He urged all stakeholders to ensure timely and successful completion of various CPEC projects. He emphasized that all government ministries and departments who are involved in the implementation of CPEC should ensure effective coordination amongst each other. The meeting was attended by senior officials of the Ministry of Finance. Finance Minister chaired a meeting on development policy credit for growth Federal Finance Minister, Senator Mohammad Ishaq Dar, held a meeting with a delegation of the World Bank, led by Country Director Mr. Patchamuthu Illangovan, here today to review the World Bankrsquos proposed Development Policy Credit for Growth. The Finance Minister reviewed various reforms initiatives being undertaken by the government and implementation status of various projects being executed with World Bankrsquos assistance. The Finance Minister expressed satisfaction over the pace of project implementation and appreciated the cooperation offered by the World Bank team to Pakistan in its various development projects. Both sides agreed to speed up the reforms process which will bring economic efficiency and transparency in the system. The Country Director World Bank appreciated the reforms introduced in various sectors by the current government. The meeting was attended by Secretary Economic Affairs Division and other senior officials of Ministry of Finance and the World Bank. The first meeting of the e-Commerce Policy Board was chaired by the Finance Minister, Senator Mohammad Ishaq Dar, at the Ministry of Finance today. The Board has recently been constituted by the Prime Minister Muhammad Nawaz Sharif to oversee the cross-institutional efforts of creating an e-Commerce Policy Framework being coordinated by the Ministry of Commerce. The Finance Minister said that formation of the e-Commerce Policy Board is proof of the governmentrsquos serious commitment to the promotion of e-Commerce in Pakistan. He highlighted the importance of creating a conducive environment for the growth of e-Commerce in the country, including through provision of the requisite infrastructure, and legal amp regulatory framework. Secretary Commerce briefed the Board on the current status and future prospects of e-Commerce globally and in Pakistan. He informed that e-Commerce now accounted for nearly 2.6 of global GDP. He highlighted that e-Commerce is still in its infancy in Pakistan but it is estimated to reach US 1 billion by 2020 provided the correct regulatory framework and infrastructure is in place. The Commerce Minister, Engr. Khurram Dastgir Khan, informed the Board that e-Commerce had become a globally important issue in the World Trade Organization. He emphasized that it was extremely important for Pakistan to create an environment in the country which would lead to high growth of SMEs, including e-Commerce initiatives. Minister of State for IT amp Telecom, Ms. Anusha Rahman, informed that the Ministry of IT amp Telecom is already working on some key areas related to e-Commerce which would assist in unlocking the hidden potential of e-Commerce in Pakistan. The Board discussed the way forward to devise a comprehensive e-Commerce Policy in the country. A detailed action plan focusing on reforms in several areas affecting e-Commerce was discussed. The Board approved formulation of five Working Groups on various tasks in the plan, namely Taxation, Payment Infrastructure, Regulatory Framework, Logistics, and E-Commerce, WTO amp Development, with representatives from both the public and private sectors. The Board also directed that the holistic regulatory framework may be examined in consultation with all stakeholders to promote and ease e-Commerce. The Finance Minister thanked all participants and encouraged all members of the Board to work on a fast-track basis to ensure the success of this initiative. The meeting was also attended by Governor State Bank of Pakistan, Chairman SECP, Chairman FBR, Secretary IT, Secretary Communications, private sector representatives, and senior officials of the Ministry of Finance, Ministry of Commerce and SBP. Finance Minister chaired a meeting with a delegation of the Lahore Chamber of Commerce and Industry The Finance Minister held a meeting with a delegation of the Lahore Chamber of Commerce and Industry led by Mr. Abdul Basit, President LCCI here today. Welcoming the delegation, the Finance Minister recalled that when the present government assumed office in 2013, Pakistanrsquos economy was in a precarious situation and international experts were predicting that it would take Pakistanrsquos economy five years to stabilize. The Minister highlighted that, contrary to those predictions, Pakistan has managed to achieve macroeconomic stability within two and a half years due to the efforts of the present government. He said that the government is now focused on achieving higher, sustainable and inclusive economic growth. Mr. Abdul Basit, President of the Lahore Chamber of Commerce and Industry congratulated the Minister over his remarkable achievements in achieving macro-economic stability, structural reforms, merger of three stock exchanges, Companies Bill 2016 and uninterrupted electricity supply to the Industry. He said the business community highly appreciates these developments and making sincere efforts to boost industrial growth and exports. He stressed upon the need of focusing on food industry which has huge potential to enhance exports and provide relief to the agriculture sector. He also extended an invitation to the Finance Minister to visit Lahore Chamber of Commerce and Industry in the near future. The Finance Minister accepted the LCCIrsquos invitation and briefed the delegation on the turnaround of Pakistanrsquos economy in the last three years, macroeconomic stability, and improvement of energy and security situation in the country, which has provided a conducive atmosphere for foreign direct investment. The Government has built confidence of the business community and countryrsquos outlook is positive, he maintained. The Finance Minister said that the Government is implementing all those things promised in the PML (N) election manifesto. The Finance Minister informed the delegation that the OECD Multilateral Convention on Mutual Administrative assistance in Tax Matters, which he signed on 14th September, 2016 in Paris has been ratified by the Pakistani Cabinet. He added that Pakistani Cabinet also authorized the processing of Pakistanrsquos membership to Open Government Partnership (OGP). Accordingly, he handed over Pakistanrsquos Letter of Intent for joining OGP to the French President Francois Hollande in the OGP Global Summit held in Paris. All these measures vouch Prime Minister Nawaz Sharif Governments commitment to usher in transparency and good governance in Pakistan, he maintained. He viewed that these steps had enhanced Pakistan image as a sovereign and prestigious country in the international arena. The Minister said that worlds economists applauded Pakistans economic performance and British economist Jim ONeill said in his report that Pakistan had potential to become the 18th largest economy by 2050 but he is determined to achieve this target much earlier. He assured the delegation that Government would make every possible effort to promote investment and exports. The delegation also discussed problems being faced in further growth of industry in the country. Finance Minister chaired a meeting to review financial matters pertaining to the upgradation of Pakistan Railways The Federal Minister for Finance Senator Mohammad Ishaq Dar chaired a meeting here at the Finance Division to review financial matters pertaining to the upgradation of Pakistan Railways. Minister for Railways Khwaja Saad Rafique and Minister for Planning and Development Ahsan Iqbal were also present in the meeting. Minister for Railways Khwaja Saad Rafique informed the meeting that Pakistan Railways has been planning to upgrade its infrastructure to provide better services to its customers and incorporate the technological developments taking place around the world for most efficient use of resources. The Minister also stated that Railways infrastructure had been neglected in the past years and under the present leadership, improving the roads and communication infrastructure has been the priority of the government. He also said that the constant upgradation of the Railways infrastructure will prove be an active factor in increasing the speed of development in the country. Federal Minister for Finance Senator Mohammad Ishaq Dar assured the Ministry of Railways that maximum possible help and assistance will be provided to the Railways Ministry on its upgradation initiatives as it is one of the most important public sector service providers and still a cost effective source of travel for the common man in the country. Ministry of Planning Development and Reforms and Economic Affairs Division were also advised to assist the Ministry of Railways in the development of projects for the improvement in Railways network. The meeting was participated by senior officials of the Ministry of Finance, Ministry of Railways, Economic Affairs Division and Ministry of Planning and Development. Finance Minister chaired the meeting of ECC The Federal Minister for Finance Senator Mohammad Ishaq Dar chaired the meeting of the Economic Coordination Committee (ECC) of the Cabinet here at the Prime Ministerrsquos Office today. ECC considered and approved Policy Directives to NEPRA to make the Policy Framework for Private Sector Transmission Line Projects, 2015, consistent with the existing practice of tariff determination, for the purpose of clarity. ECC also deliberated upon the Ministry of Water and Power proposal regarding implementation of 660 KV HVDC transmission line from Matiari to Lahore project. ECC of the Cabinet authorized Ministry and PPIB to process 660 kv HVDC Matiari-Lahore Transmission Line Project to State Grid Corporation of China (SGCC) China Electric Power Equipment amp Technology Co. Ltd (CET) subject to acceptance of NEPRArsquos approved Tariff for the Project and fulfillment of other applicable provisions of Transmission Line Policy 2015 on the basis of fact that the project has been conceived and awarded under CPEC. Finance Minister chaired the meeting of ECNEC The Federal Minister for Finance Senator Mohammad Ishaq Dar chaired the meeting of the Executive Committee of the National Economic Council (ECNEC) here at the Prime Ministerrsquos Office today. ECNEC considered and approved the Prime Ministerrsquos National Health Program (Revised), which will be implemented in 34 districts all over Pakistan at a rationalized cost of Rs. 8,179.092 million. The program is expected to be completed in 36 months. The project aims at improving the health status of the population in the country by ensuring access to quality health care especially enhancing coverage and access to secondary and priority treatment of the poor and vulnerable population. The insurance cover would be limited to Rs. 50,000 per family per annum for secondary care treatment and Rs. 250,000 per family per annum for priority treatment. ECNEC also considered and approved ldquoRenewable Energy Development Sector Investment Program (REDSIP) (2nd revised PC I) at an estimated cost of Rs. 15,794.66 million including FEC of Rs. 4,865.97 million. The project envisages construction of three hydropower projects with total capacity of 56.2 MW including 36.6 MW Daral Khawar Hydropower project (HPP), 17 MW Ranolia HPP and 2.6 MW Machai HPP. Under this program, three feasibility studies of Koto HPP (31MW), Jabori HPP(8MW) and Karora HPP(9.8MW) will also be carried out besides capacity building of PEDO. The main objective of the REDSIP program is to develop on sustainable basis, environment friendly and affordable, renewable power potential of Khyber Pakhtunkhwa. The project will be located in the districts of Swat, kohistan, Mardan, Dir, Shangla, Mansehra and Peshawar. The 1410 MW Tarbela 5th Extension Hydropower Project was also approved by ECNEC at a revised cost of Rs. 82,361.6 million. The implementation period of the project will be around 48 months (2017-2021). The aim of the project is installation of three additional power generating units, having installed capacity of 470 MW each (total 1410 MW) on existing Tunnel-5 without affecting the capacity of irrigation release. The total installed capacity of Tarbela Dam after completion of Tarbela 5th extension will rise to 6298 MW. ECNEC also gave final approval for the Dualization and Improvement of Mandra Chakwal Road Project (64 km) Revised at the total cost of Rs.9332.006 million. The project had been approved by ECNEC in principle on 8th March 2016 with an observation the final approval came after the compliance of the said observation. The project is for the improvement rehabilitation of 64 km existing road to a width of 7.3 m (2-lanes carriageway), construction of additional 7.3 m wide road (2-lanes carriageway) provision of 7.3 m wide and 14.5 km Chakwal Northern by-pass, a railway flyover with allied structures and facilities. ECNEC approved the proposal of the Government of Balochistan to change the executing agency for the Construction up-gradation of Dirgi Shabozai (N-70) to Taunsa Sharif (N-55) Road (175km) project from Balochistan Development Authority to Communications and Works Department, Government of Balochistan. The project has already been approved by ECNEC on 13-9-2013 at the total cost of Rs. 4795.980 million. The project envisages the construction up-gradation of 6.1 m wide and 155KM long road besides widening of 20km long section from 3.65 m width and allied facilities between Dirgi-Shabozai on N-70 leading to Taunsa Sharif on N-55 with the cost being shared by the Federal and provincial governments in 60:40 ratio. Construction of 6- Lane Highway from Kala Shah Kaku to Lahore Ring road (18.30 Km) including Bridge over River Ravi (Lahore Eastern Bypass) was also approved by ECNEC at the total cost of Rs.12, 848.047 million. The scope of work also includes construction of 6 lane bridge over River Ravi spanning 800 m, 2 bridges over railway crossings, 4 bridges on drains nullahs, 5 underpasses, 3 interchanges, 17 cattle creeps, 12 culverts, drainage, erosion and flood protection works. The executing agency for the project will be the National Highway Authority. The project will be completed in a period of 24 months starting from October 2016. ECNEC also approved the ldquoTechnology Park Development Project-Islamabadrdquo at the total cost of Rs.9246.013 million. The foreign exchange component for the project (Rs 7983.091 included in the total cost) will be provided by the EXIM Bank of Korea through a soft loan. The project is expected to be completed in 4 years. The project envisages the establishment of Information Technology Park on 14.9 acres of land leased by PSEB at Kuri Road Chak Shahzad, Islamabad. The concept design park proposes two phases of self contained and interconnected buildings having covered area of approximately 45000 square meters providing office space and other facilities to IT companies. ECNEC was also briefed that the successful completion of the project will open door of direct indirect employment opportunities for Pakistanis. ECNEC also approved ldquoFaculty Development Program for Pakistani Universitiesrdquo at the rationalized cost of Rs.7142 million. The program is expected to be completed by December 2024. Under the project 2000 Split PhD scholarships to non-PhD faculty members already inducted in the public sector universities Degree Awarding Institutes (DAIs). Scholars will start their initial research in Pakistan and at any point during research heshe would be required to proceed abroad for a maximum period of 6-12 months with the recommendation of the local supervisor and acceptance by the foreign supervisor for the research work. The program is expected to improve the quality of higher education in the country. According to HEC, all provinces will be given due representation in the program. Finance Minister chaired the 20th Meeting of PCER Finance Minister Senator Mohammad Ishaq Dar chaired the 20th meeting of the Parliamentary Committee on Electoral Reforms (PCER) here today. The Sub-Committee unanimously submitted its Report regarding the Draft Elections Bill, 2017, the Draft Elections Rules, 2017 (being sent to the Election Commission of Pakistan for finalization as per Elections Bill, 2017) for consideration and approval of the PCER. The PCER has also been informed about the Draft Constitution (Twenty-seventh Amendment) Bill, 2017. Since its formation, the Parliamentary Sub-Committee held seventy (70) meetings and submitted 7 Progress Reports to the PECR. It examined the following 9 Laws and the Constitution relating to elections, namely:- (i) the Electoral Rolls Act, 1974 (Act No. XXI of 1974) (ii) the Delimitation of Constituencies Act, 1974 (Act No. XXXIV of 1974) (iii) the Senate (Election) Act, 1975 (Act No. LI of 1975) (iv) the Representation of the People Act, 1976 (Act No. LXXXV of 1976) (v) the Election Commission Order, 2002 (Chief Executiversquos Order No.1 of 2002) (vi) the Conduct of General Elections Order, 2002 (Chief Executiversquos Order No.7 of 2002) (vii) the Political Parties Order, 2002(Chief Executiversquos Order No.18 of 2002) (viii) the Qualifications to Hold Office Order 2002 (Chief Executives Order No. 19 of 2002) and (ix) the Allocation of Symbols Order, 2002. The PCER has held 20 meetings so far. In its todayrsquos meeting, the PCER discussed the Report of the Sub-Committee referred to above and adopted the same and decided that the Draft Elections Bill, 2017, be presented to the Senate and National Assembly of Pakistan for consideration and views of the honorable parliamentarians within 30-days to the National Assembly Secretariat for the consideration of the PCER. It was also decided to put it on website for civil society comments and suggestions as well. A number of honorable members of the PCER expressed their reservations regarding the 10 turnout of the women voters with reference to clause 9 of the Draft Elections Bill, 2017and proposed that the same should be 5. About this matter final decision will be taken in subsequent meeting of the PCER. With reference to the Draft Constitution (Twenty-seventh Amendment) Bill, 2017, the PCER decided that it may be finalized by the Sub-Committee by keeping in view the other proposals relating to the Constitutional provisions requiring amendments, as and when received. The Chairman of the PCER, also appreciated all the Members, especially the Convener and Members of the Sub-Committee, as well as officers and staff of the ECP, NADRA, Ministry of Law and Justice, and National Assembly Secretariat for their hard work in finalizing the Report and accompanying DraftsAnnexures. On this occasion, a team of experts gave demonstration on Bio-metric Voters Identification (BVI) and Electronic Voting Machines (EVM) to the Committee. The meeting was attended Mr. Zahid Hamid, MNA, Minister for Law and Justice amp Climate Change, Lt. Gen. (Retd.) Abdul Qadir Baloch, MNA, Minister for States and Frontier Regions, Mr. Murtaza Javed Abbasi, MNA, Deputy Speaker, National Assembly, Ms. Anusha Rehman Khan Advocate, MNA, Minister of State for Information Technology and Telecommunications, Dr. Tariq Fazal Chaudhry, MNA, Minister of State for Capital Administration and Development Division, Syed Naveed Qamar, MNA, Ms. Shazia Marri, MNA, Mr. Shafqat Mehmood, MNA, Dr. Shireen Mehrunnisa Mazari, MNA, S. A. Iqbal Quadri, MNA, Sahibzada Tariq Ullah, MNA, Ms. Naeema Kishwar Khan, MNA, Mr. Usman Khan Tarakai, MNA, Mr. Aftab Ahmed Khan Sherpao, MNA, Mr. Muhammad Ijaz-ul-Haq, MNA, Syed Ghazi Gulab Jamal, MNA, Senator MushahidUllah Khan, Senator Saleem Zia, Senator Aitzaz Ahsan, Senator Syed Shibli Faraz, Senator Mushahid Hussain Syed, Senator Hidayat Ullah, Ms. Asia Nasir, MNA. The Officers of the ECP along with a team of experts on electronic voting machines and biometric voters identification systems, NADRA, Ministry of Law and Justice, and National Assembly Secretariat also attended the meeting. Finance Minister chaired the 3rd meeting of the 9th National Finance Commission (NFC) The Federal Finance Minister Senator Mohammad Ishaq Dar chaired the 3rd meeting of the 9th National Finance Commission (NFC) here today. The meeting was participated by the Members of the Commission namely Ms Dr. Aisha Ghaus Pasha, Finance Minister Punjab, Mr. Said Muzaffar Advocate, Finance Minister KPK, Senator Saleem Mandviwala, Member Sindh, Prof. Muhammad Ibrahim Khan, Member KPK, Dr. Kaiser Bengali, Member Balochistan and Dr. Ali Cheema, Member Punjab. The meeting was also attended by Federal Finance Secretary, MemberFederal Expert, Chairman, FBR, Additional Finance Secretary (IGF), Joint SecretarySecretary NFC, Finance Division and the four Provincial Finance Secretaries. The Chairman, NFC Senator Mohammad Ishaq Dar welcomed the participants and informed that CCI in its meeting held on 16-12-2016 referred the proposal for creation of National Security Fund (NSF) and allocation for Special Areas i. e. Azad Jammu ampKashmir, Gilgit-Baltistan and FATA, to the NFC for deliberation. He highlighted the extraordinary security situation and measures being taken by the Federal Government. He also explained that though the Federal Government is providing funds to Special Areas, however, their financial needs are increasing year on year. To further elaborate the proposal, Federal Finance Secretary made presentation on NSF and Special Areas. It was recommended that for NSF and Special Areas, NFC may consider to allocate 3 amp 4 of the gross divisible pool respectively. The provincial representatives desired that they should be given time for deliberation and consultations, so that they may come up with appropriate reply to the recommendations, which was accepted. It was also desired that the Federal Government may put forth a complete set of proposals i. e. details and modalities, for use of fundallocation, particularly related to Special Areas. The 3rd meeting of the 9th NFC was held in a cordial and friendly atmosphere. The Provincial Governments and the Federation agreed to push the process for completing the next NFC Award before the next budget. For this purpose, the Commission agreed to convene next meeting in January, 2017. It was also proposed that, if all provinces agree, the next meeting of the Commission may be convened at Lahore. Promotion of Islamic Banking in Pakistan Finance Minister Senator Mohammad Ishaq Dar said that the government is taking structured policy actions to promote Islamic Banking in Pakistan. In this connection, the Finance Ministry has issued Notifications constituting four sub-Committees for promotion and facilitation of Islamic Banking in the country. Terms of Reference of the sub committees were also approved and issued. The SUB-COMMITTEE ON LEGAL amp REGULATORY FRAMEWORK will be chaired by the Governor State Bank of Pakistan. It has representation of various commercial Banks, Shariah Scholars, Ministries of Law and Finance. TORs of the Committee include Fast track adoption of Accounting and Auditing Organization for Islamic Financial Institutions amp Islamic Financial Services Board standards for Islamic Financial Institutions (IFIs), encourage conventional banks with large Islamic banking operations to convert into full-fledged Islamic banks or establish Islamic banking subsidiaries and conversion of domestic debt into Shariah compliant financing. The SUB-COMMITTEE ON TAXATION will be chaired by the Chairman Federal Board of Revenue. It has representation of the Banks, Finance Division, Shariah Scholars and Heads of Revenue Authorities of all Provinces. The Committee will advise FBR to provide tax neutrality for Islamic Financial Institutions and review tax related matters of Islamic banking subsidiaries of conventional banks and will make it a competitive business model. The SUB-COMMITTEE ON CAPITAL MARKET will be chaired by the Chairman, Securities amp Exchange Commission of Pakistan. It has representation of FPCCI, Banks, Shariah Scholar, Pakistan Stock Exchange and Finance Division. The committee will harmonize terms and conditions of Shariah compliant instruments issued by NBFC, Notified Entities and Modarabas, Issuance of retail sukuk, introduce innovative financial products like Real Estate Investment Trust, securitisation etc on Islamic basis. Further, SBP amp SECP will develop framework for Islamic Banking Institutions to enter into private equity business. The SUB-COMMITTEE ON AWARENESS, TRAINING AND CAPACITY BUILDING will be chaired by the Deputy Governor, SBP who is also the convener of all the sub-committees. It has representation of National Institute of Banking and Finance (NIBAF), SECP, Banks, IBA, LUMS, IMS and Finance Division. This committee will promote culture of Islamic finance research and development, set up multi-stakeholdersrsquo forum-Islamic Finance Association, introduce educational reforms w. r.t Islamic Finance and Training amp capacity building of designated focal persons in government departments. Finance Minister chaired the meeting of ECC The Federal Minister for Finance Senator Mohammad Ishaq Dar chaired the meeting of the Economic Coordination Committee (ECC) of the Cabinet today at the PM Office. ECC approved a summary submitted by the Finance Division regarding lifting of withholding tax on small farmers schemes. The summary sought exemption from the purview of section 236U of Income Tax Ordnance, 2001 to the Crop Loan Insurance Scheme and livestock Insurance Scheme which are aimed at providing risk cover to mitigate losses in case of natural disasters. ECC also approved extension in the export of wheat date from 30th November 2016 to 31 December 2016. It was also approved that same rate of rebate would be given on export of wheat products like Suji, Maida and wheat flour fine (Aata) as available on per Kg wheat export. Meaning thereby that one Kg of Suji, Maida and wheat flour Fine (Aata) will be exported against one Kg of wheat issued so there will be no extra claim of rebate. As more than 3 million tons exportable surplus wheat is available, the Ministry of National Food Security and Research proposed to allow export of the equal quantity of Suji, Maida and wheat flour Fine (Aata) equivalent to the quota of wheat issued. The Ministry of National Food Security and Research proposed maintaining the Minimum Guaranteed Price (MGP) of Wheat at Rs.1300 per 40 Kg for wheat crop 2016-17. ECC accorded approval to the proposal for maintaining the MGP of Rs.1300- per 40 Kg for wheat crop 2016-17. ECC also approved relending the China Eximbank Loans to Pakistan Atomic Energy Commission (PAEC) for Chashma Nuclear Power Project 3 and 4 on similar termslines available to the loans relent to provincial governments departments. The Chinese loans will be relent to PAEC at actual terms and conditions available to the Government of Pakistan and also the exchange rate risk will be borne by PAEC. The Ministry of Petroleum and Natural Resources apprised the ECC regarding increase in natural gas production of more than 83 to 84 MMCFD from Nashpa field. It also stated that the Ms SNGPL is also keen to receive the additional gas due to demand-supply imbalance of natural gas on its system. The ECC approved the Ministry of Petroleum amp Natural Resources proposal for allocation of the additional gas up to 84 MMCFD produced from Nashpa field to SNGPL to cope with demand-supply imbalance on its system. ECC also accorded approval in principle for re-enactment of OGRA Amendment Ordinance, 2009 XVI of 2009 with retrospective effect containing validation and sun-set clauses from the date of promulgation of the Ordinance with a condition not to change the present system of Sales Tax collection. ECC approved the Memorandum of Agreement signed on 20th May 2016 between the Ministry of Petroleum and Natural Resources and the Balochistan government for extension of Sui gas mining lease agreement for next ten years. President AJK met with Finance Minister The President of Azad Jammu and Kashmir Sardar Masood Khan held a meeting with the Federal Minister for Finance Senator Mohammad Ishaq Dar here today. President AJK thanked the Finance Minister for his cooperation and support in addressing and resolving the issues of the AJK government on priority basis. He appreciated the move of the Government of Pakistan to join the Open Government Partnership (OGP) initiative and observed that it would improve the image of Pakistan. He said that Pakistanrsquos standing has globally improved due to the enabling environment created by the PML (N) Government. President AJK discussed with the Finance Minister budgetary outlays and details of developmental projects of the AJK government. The Finance Minister said that the Federal Government is cognizant of these issues and fully supports the AJK government on its agenda of early completion of its development projects. He said that the federal government has always given all possible support to the AJK and will continue to do so. President AJK said that due to the policies of macro-economic stability brought about by the government, the outlook of Pakistan has improved. He emphasized that the AJK government appreciates the hand holding of the federal government in addressing the financial matters of AJK. The Finance Minister also shared the details of his recent visit to France for joining the OGP initiative. The Minister told the President AJK that the OGP initiative promotes transparency, citizen participation and democratic innovation. The Minister also shared that the Government is also planning to sign the OECD Convention on Anti-bribery. Senior officials of the Ministry of Finance and AJK participated in the meeting. Finance Minister met with French Counterpart in Paris Before leaving for Islamabad after his official visit to Paris, Finance Minister Senator Mohammad Ishaq Dar met with French Finance Minister Michel Sapin yesterday. This was his second meeting with French counterpart in the last three months. French Minister Sapin congratulated the Finance Minister on joining the Open Government Partnership process. He also appreciated the ratification by Pakistan of the OECD Convention on Mutual Assistance on Tax Matters. The Finance Minister apprised his counterpart of the importance Pakistan attaches to transparency in public matters and his intention to make Pakistan a member of OECD Convention against Bribery in due course. The Finance Minister briefed Minister Sapin on the turnaround of Pakistanrsquos economy in the last three years, macroeconomic stability, and improvement of energy and security situation in the country, which has provided a conducive atmosphere for foreign direct investment. Mr. Sapin acknowledged Pakistanrsquos economic achievements and expressed hope that the journey towards further progress and development would continue. Both the Ministers also discussed trade, economic and investment relations between the two countries. While expressing satisfaction over the upward trajectory of bilateral relations, including decision by French automobile company Renault to start manufacturing vehicles in Pakistan, they emphasized the need to further strengthen ties through the institutional mechanism of Administrative, Economic and Trade Committee (AETC). They agreed, in principle, to upgrade AETC to Ministerial level. The Finance Minister invited Mr. Sapin to visit Pakistan to co-chair the next meeting of AETC. Prior to that, both sides would meet early next year at Secretary level to prepare the ground for the Ministerial meeting. Secretary Economic Affairs Division and Ambassador of Pakistan to France were also present in the meeting. Governor State Bank called on the Finance Minister Governor State Bank of Pakistan, Mr. Ashraf Mehmood Wathra called on the Federal Minister for Finance Senator Mohammad Ishaq Dar today. Governor State Bank of Pakistan discussed recent measures taken by the State Bank of Pakistan on the crackdown against illegal money exchangers as directed by the Finance Minister before he left for Paris. He also informed the Minister on the latest foreign exchange reserve situation of the country. He briefed the Minister on the current forex reserve position and the measures adopted by SBP to facilitate the export oriented sectors. The Finance Minister stressed upon the need of best possible management of the precious resources of the country and provision of maximum facilities to the export oriented sectors to enhance exports of the country. The Finance Minister also shared with him the details of his recent visit of Paris to join the Open Government Partnership (OGP) an international platform committed towards making governments more open, accountable and responsive to citizens. The OGP was launched in 2011and 70 countries have so far joined this Partnership. Finance Minister Holds Bilateral with CEO of French Development Agency (AFD) Senator Mohammad Ishaq Dar, Pakistanrsquos Minister for Finance and Economic Affairs met with Mr. Remy Rioux, Chief Executive Officer of French Development Agency (AFD) in Paris yesterday. The CEO of AFD appreciated the progress that Pakistan has made in stabilizing economy and taking it to a higher trajectory of growth. During the meeting, Finance Minister said that Pakistan values the financial assistance provided by AFD to Pakistan in important sectors including energy, water and sanitation. He added that Pakistan government appreciates AFDrsquos support for GoP initiatives for improving the transmission efficiency and water and sanitation in Pakistan. AFD announced that for the year 2016, it has approved a portfolio of Euros 265 million as soft loans for Rehabilitation of Mangla Hydropower plant, augmenting NTDC transmission capacity and budget support for energy sector reforms. AFD has joined ADB and JICA in the 5 year budget support program initiated in 2014 for improving the management of tariff opening the market and strengthening accountability and transparency in the energy sector. AFD also evinced interest in working in the sectors of heritage and culture. AFD has been operating in Pakistan since 2007. It is promoting green and inclusive growth and has been focusing on renewable energy and energy efficiency projects. Mr. Sanjay Pradhan, Chief Executive Officer, Open government Partnership (OGP) called on the Finance Minister in the Embassy of Pakistan and congratulated Pakistan on joining the elite group of members of OGP. He invited Pakistan to participate in the meetings of various OGP Working Groups and Steering Committees and offered help in developing Pakistanrsquos National Action Plan for OGP. The Finance Minister said that Pakistanrsquos decision to join OGP demonstrates governmentrsquos commitment to a transparent and accountable governance. He reiterated governmentrsquos pledge to work against corruption and fiscal fraud and further high level commitments to fully achieving and sustaining the principles of OGP. Mr. Bernard Cambier, Head of Middle East Division of Renault, the French largest car manufacturing company also met with the Finance Minister. They reaffirmed Renaultrsquos decision for setting up their car manufacturing facility in Pakistan by 2018. Finance Minister appreciated Renaultrsquos decision for choosing Pakistan for establishing their car facility and assured full support for Renaultrsquos operations in Pakistan. Finance Minister also interacted with French and Pakistani media and briefed them on the outcome of his visit. The meetings were also attended by Mr. Tariq Bajwa, Secretary Economic Affairs Division, Pakistan, Ambassador of Pakistan to France Moin ul Haque and the Embassy team. Finance Minister held bilateral meeting with Secretary General,(OECD) in Paris Finance Minister Senator Mohammad Ishaq held bilateral meeting with Mr. Angel Gurria, Secretary General, Organization for Economic Cooperation and Development (OECD) in Paris today. This was his second meeting with OECD Secretary General in the last three months. The Finance Minister informed the Secretary General that the OECD Multilateral Convention on Mutual Administrative Assistance in Tax Matters, which he signed on 14th September, 2016 in Paris has been ratified by the Pakistani Cabinet. He added that Pakistan Cabinet also authorised the Finance Minister for processing Pakistanrsquos membership to Open Government Partnership (OGP). Accordingly, he handover Pakistanirsquos Letter of Intent for joining OGP to the French President Franccedilois Hollande in the OGP Global Summit held in Paris. Secretary General OECD welcomed Pakistanrsquos membership to OGP which coupled with Pakistanrsquos active engagement with OECD clearly demonstrated Pakistanrsquos commitment to join the international mainstream fora to adopt their best practices and to a transparent and accountable governing structure. He invited Pakistan to join OECD Development Centre and offered OECDrsquos technical help for developing Pakistanrsquos National Action Plan for OGP. Senator Ishaq Dar shared with OECD Secretary General that Pakistan is currently working to meet the OECD criteria and parameters to formally apply for accession to OECD Convention on Combating Bribery. Earlier, the Finance Minister met with Sir Eric Pickels, Head of UK Anti-Corruption on the sidelines of OGP Summit. Sir Eric congratulated the Finance Minister on joining OGP. The Minister informed Sir Eric that Pakistan was the first country to issue a Tax Directory of parliamentarians and the fourth country to publish General Tax Directory of tax payers for the three consecutive years. They also discussed matters relating to transparency and good governance. Mr. Denis Simonneau, the Head of European and International Relations, ENGIE, a leading French energy company also called on the Finance minister at the Embassy of Pakistan in Paris and expressed interest of his corporate group to cooperate in the field of energy in Pakistan. All the meetings were also attended by Mr. Tariq Bajwa Secretary Economic Affairs Division, Pakistan, Ambassador of Pakistan to France Moin ul Haque and Embassy team. Senator Mohammad Ishaq Dar Federal Minister for Finance and Economic Affairs of Pakistan is meeting with Sir Eric Pickels Head of Anti-Corruption, UK at the British Embassy in Paris today (8th December, 2016). Senator Mohammad Ishaq Dar Federal Minister for Finance and Economic Affairs of Pakistan is holding bilateral meeting with Mr. Angel Gurria, Secretary General, Organization for Economic Cooperation and Development (OECD), in OECD Headquarter in Paris, Today (8th December, 2016). Senator Mohammad Ishaq Dar Federal Minister for Finance and Economic Affairs of Pakistan is meeting with Mr. Remy Rioux, Chief Executive Officer of French Development Agency (AFD), in AFD Headquarters, Paris, France today (8th December, 2016).8203 Finance Minister will attend OGP Summit, AFD moot hold Bilateral Meetings in France Senator Mohammad Ishaq Dar, Federal Minister for Finance and Economic Affairs will undertake a three day official visit to Paris, France starting from tomorrow. Senator Dar accepted the invitation of the Minister of Foreign Affairs of France and the UK government to participate in the OGP Summit being held from 6th to 9th December in Paris. During his visit, the Minister will attend the OGP Summit and the closing ceremony of the 75th Anniversary Celebration of French Agency of Development (AFD) (likely to be hosted by French President Hollande).The Finance Minister will also speak at a variety of events, attend roundtables with global leadership in the area of action against fiscal fraud and improving governance. The Finance Minister will attend Open Government Partnership (OGP) summit where leaders of over seventy countries will debate on principles of transparency, accountability and citizen participation which contributes to good governance and socio-economic development of member countries. Launched in 2011, OPG is a multilateral initiative aimed at promoting the principles of open and transparent government through civic consultation and participation, reinforcing public integrity and the fight against corruption. Round tables will be held under the themes, ldquoCollective Ambitions and the Future of Open Governmentrdquo, ldquoOpen Government as a Force for Democracyrdquo, ldquoBuilding Trust in Government, Anti-Corruptionrdquo ldquoThe Time for High Level OGP Commitmentsrdquo, and ldquoCitizen Movements and Democratic Transitionsrdquo. The Minister is also likely to hold bilateral meetings with Managing Director AFD and will meet the Management of Renault besides interacting with French and Paris Based Pakistani Media. Finance Minister chaired a meeting to review revenue collection targets and other matters related to FBR The Federal Minister for Finance Senator Mohammad Ishaq Dar chaired a meeting here today to review the revenue collection targets and other matters related to FBR. SA to PM on Revenue Mr. Haroon Akhtar Khan was also present during the meeting. Chairman FBR Nisar Mohammad Khan briefed the Finance Minister on the latest revenue collection figures. The Finance Minister appreciated the efforts of FBR in increasing tax collections by 60 over the last three years. He urged the FBR team to redouble their efforts to meet this yearrsquos revenue targets. He emphasized the importance of enhanced revenue collection in the background of countryrsquos need for development and for achieving higher rate of inclusive and sustainable growth. The meeting was attended by senior officials of FBR and the Ministry of Finance. Finance Minister chaired a meeting for preparations to attend OGP summit in Paris The Federal Minister for Finance Senator Mohammad Ishaq Dar chaired a meeting here today to review the preparations for his visit to Paris to participate in the 4th biennial ldquoOpen Government Partnershiprdquo Global Summit to be held from 6th to 9th of December 2016. The Finance Minister earlier accepted the invitation of the Governments of the United Kingdom and France to join the Open Government Partnership (OGP) initiative. The Letter of Intent signed by the Finance Minister has already been sent to OGP Secretariat expressing the intention of the Government of Pakistan to join OGP and commitment to respect the open government principles articulated in the Open Government Declaration of the OGP. On the instructions of the Finance Minister, the Economic Affairs Division had earlier arranged the first interactive session with the members of the civil society to formulate a road map for open government action plan. The next meeting with the members of the civil society shall be held in the month of January. The Federal Minister for Finance said that Pakistanrsquos participation in OGP will be another step towards increased government transparency and stronger accountability leading to greater prosperity and wellbeing of the citizens. He said that measures such as accession to the OECD Convention on Tax Matters and move to join the OGP, will project a positive image of the country around the world and demonstrate Pakistanrsquos strong commitment to transparency, good governance and accountability. The Minister directed Secretary EAD and his team to take all necessary steps that could help in reaping the maximum benefits from Pakistanrsquos participation in the OGP Summit. The meeting was attended by the senior officials of the Ministry of Finance and Economic Affairs Division. Finance Minister chaired a meeting on promotion of Islamic finance Minister for Finance, Senator Mohammad Ishaq Dar, chaired the first meeting of the Committee for Implementation of the recommendations of Steering Committee for Promotion of Islamic Banking here today. The Finance Minister while chairing the meeting commented that ldquoour Government has always been committed to the development and promotion of Islamic Financerdquo. He said that the issuance of Sukuks by the present government during the last three years, including the recent issuance of US 1 bn international Sukuk, is proof of the Governmentrsquos commitment to Islamic Finance. Mr. Saeed Ahmad, Deputy Governor, SBP and convenor of the Committee briefed the meeting on the recommendations of the steering committee: Formation of task force to undertake amendments in legal and regulatory framework Fast track adoption of AAOIFI amp IFSB standards for Islamic Financial Institutions Develop a policy to raise new international financing through Islamic modes Harmonisation by SECP of terms and conditions of Shariah compliant instruments issued by NBFC, Notified Entities and Modarabas Promotion of Islamic finance research and development Training amp capacity building of focal persons in government departments Formation of Implementation Committee to deliver above recommendations After detailed deliberations with the committee the Finance Minister directed that four sub-committees, with membership from all the relevant stakeholders, to ensure effective and timely implementation of recommendations may immediately be notified and they are: Sub-Committee on Legal amp Regulatory Framework Sub-Committee on Taxation Sub-Committee on Capital Market Sub-Committee on Awareness. Training amp Capacity Building The Committee was also briefed on the salient features of the Wakalah Sukuk. The Finance Minister appreciated the efforts of the Committee members and assured them of his full support for promotion of Islamic finance in the country. The meeting was also attended by Finance Secretary, Chairman SECP, Chairman FBR, Chairman PBA, President ICAP, President Bank Alfalah, Shariah Finance experts and other senior officials of the Ministry of Finance and SBP. Finance Minister met with Forex Dealers Association The Federal Minister for Finance Senator Mohamamd Ishaq Dar held a meeting today with the delegation of Forex Association of Pakistan led by Shaikh Allauddin, Chairman forex Association of Pakistan on the issue of smuggling of foreign exchange from the country. The Finance Minister said that the Government has already launched crackdown against illegal money changers and at the airport. As a result of this crackdown against unscrupulous elements, the rupee dollar parity has improved by rupee one in the last 48 hours, he mentioned. He said that the Government would not allow any unscrupulous element to play with destiny of the country. The Government did it in past as in1998 and 2013 and would correct this unnatural hike this time as well, he affirmed. He said that these unscrupulous elements should mind that one rupee devaluation cost 57 billion loss to the exchequers which is detrimental to the interest of Pakistan. The Minister mentioned during the meeting that some unpatriotic elements have been involved in forex and bullion smuggling. He reiterated in unequivocal terms that rupee dollar parity will not be allowed to be tampered through illegal and unnatural practices, and discipline will be enforced. The Minister shared with the delegation that DG FIA, Chairman Federal Board of Revenue, Joint - Director Intelligence Bureau and other senior officers concerned have been to take strict measures immediately against criminal elements involved in the smuggling of gold and currency. He stated that FIA, IB, Custom Intelligence and State bank of Pakistan have been tasked to keep strict vigilance in this regard and all airports and other entry points would be kept under strict surveillance to curb this menace of currency and bullion smuggling. He reiterated that the Government is determined to establish writ of the State by all means. Earlier, the forex dealers appreciated steps taken by the agencies which have resulted in improvement of rupee dollar parity. They assured their fullest cooperation to the Government. They also assured that they would not support any member of their association if involved in this illegal practice. It is expected that the situation will further improve in the coming week, they observed. Finance Minister addressed NDU course participants The Federal Minister for Finance Senator Mohammad Ishaq Dar, on the invitation of National Defense University, addressed the participants of National Security Workshop (18) at Institute for Strategic Studies, Research and Analysis (ISSRA), NDU today. The Minister was received by Lieutenant General Nazir Ahmed Butt and DG ISSRA Major General Ghulam Qamar and senior officials of the college. The Finance Minister spoke on the Economic Policy of Pakistan and shared the perspective on Pakistanrsquos economy, the challenges faced by the government in 2013, steps taken for fostering growth and the roadmap for future economic growth in the country. The Minister said that when the government came to office our priority was to re-fix the economy and bring macro-economic stability. Prior to 2013, the country was faced with serious challenges like macro-economic instability, frequent power outages and dire security situation. Agriculture, large scale manufacturing and services sectors were all underperforming. The foreign exchange reserve position had reached precarious levels the interest rates and inflation were high. The external sector was heavily out of balance, and the performance of state owned enterprises had severely deteriorated. The incumbent government has paid attention to all these issues and achieved considerable success in resolving them. We took necessary and difficult steps to avoid predicted default, and ensure fiscal discipline and consolidation. In this regard, we undertook structural reforms, including restructuring Pubic Sector Enterprises, and other measures including reduction in un-targeted subsidies and broadened the tax base. Measures were also taken to build foreign exchange reserves, contain inflation and overcome energy shortages. Now, our country ratings have been improved by Rating Agency as acknowledgement of our achievements. The Minister noted that the slowdown in the global economy has posed a risk for Pakistan like other developing economies. He further said that the strengthening of the energy infrastructure and improving the security situation will be the key to achieving higher levels of growth in Pakistan. The workshop members included Senators, MNAs, MPAs, senior military officers, bureaucrats, Ambassadors and representatives of the civil society. Asian Development Bank to provide US 200 million and Australia to extend grant of AUD 4.5 million for National Disaster Risk Management Fund Senator Mohammad Ishaq Dar, Minister for Finance, Revenue, Economic Affairs, Statistics and Privatization witnessed the signing ceremony between the Government of Pakistan and Asian Development Bank (ADB) for Loan Agreement of US 200 million and Grant Agreement of Australian Dollar 4.5 million for National Disaster Risk Management Fund (NDRMF). The Signing Ceremony was held in the office of Finance Minister. NDRMF is being established as a public limited company under Section 42 of the Companies Ordinance 2016 for sustainable mechanism and permanent instrument to enhance Pakistanrsquos resilience to any future disaster. The focus of the Fund is on: (i) disaster risk reduction (ii) design, development and seeding of disaster risk financing strategies and instruments and (iii) partnerships with other organizations to provide relief and recovery support, including livelihood restoration initiatives, and reconstruction and rehabilitation of key public infrastructure. The eventual total outlay of the Fund would be is USD 3 Billion of which ADB will provide USD 1 billion in five tranches. Out of ADBrsquos total commitment, a loan of USD 200 million has been signed today. The Government of Australia is also providing co-financing grant for this Fund. Apart from ADB and Australia, other donors such as Norway, Belgium and Switzerland have also shown their interest to contribute in the Fund. Speaking on the occasion, the Finance Minister thanked ADB and the Government of Australia for providing support and enabling Government of Pakistan to establish a common window to pool financial resources. This mechanism will serve for alignment of donorsrsquo commitments and GOP financing for disaster management efforts, if God forbid a disaster does take place. The Minister also said that the participation of our development partners in this noble cause will also inspire organizations around the world to take similar initiatives. He also said that this initiative will strengthen Pakistanrsquos disaster preparedness efforts. The Country Director Asian Development Bank stated that this is a trend-setting initiative which would not only mitigate the effects of disaster but would also help cushion the fiscal shock of the catastrophe. The loan agreement was signed by Mr. Tariq Bajwa, Secretary, Economic Affairs Division and Mr. Werner E. Liepach, Country Director, Asian Development Bank. The High Commissioner of Australia and the representatives of Norway, Japan, Switzerland and European Union were also present on this occasion. Finance Minister chaired a meeting to review the matters related to Pakistan Steel Mills The Federal Minister for Finance Senator Mohammad Ishaq Dar chaired a meeting here with the Privatization Commission of Pakistan to review the matters related to Pakistan Steel Mills. Chairman Privatization Commission gave a detailed presentation on matters pertaining to Pakistan Steel Mills (PSM) and its administration. Secretary Industries and Production informed that the new CEO of PSM has assumed charge and is attending to issues related to administration and finance. After the presentation, the Finance Minister directed the Privatization Commission and Ministry of Industries and Production to coordinate and suggest measures to resolve the outstanding issues at the Mills. The Minister said that government is committed to finding a way forward and resolving the issues of PSM. He said that the government is keen to encourage the participation of the private sector in PSM in order to make sure that this asset makes its due contribution to Pakistanrsquo economy, including through creation of jobs. He highlighted that the governmentrsquos commitment to the workers of PSM is demonstrated by the fact that the government paying the salaries to the employees, even when no production is taking place. Chairman, Privatization Commission, Secretary Industries amp Production, Special Assistant to Finance Minister, CEO PSM and other senior officials of Finance Division participated in the meeting. Ambassador of the European Union called on Finance Minister Mr. Jean Francois Cautain, Ambassador of the European Union to Pakistan called on the Federal Minister for Finance Senator Mohammad Ishaq Dar this evening. The Minister greeted the Ambassador and said that Pakistan regards the European Union countries as good friends and excellent trade partners as Pakistanrsquos exports to the region have been multiplied after GSP plus status given to Pakistan. The Minister also said that he hopes that the relationship of Pakistan and European Union will also improve further in future. The Ambassador thanked the Minister for his warm welcome and said that his stay in Pakistan has been a pleasant experience and as the security situation has improved in the country, tourists from all over the world are showing interest in visiting Pakistan. He said that Pakistan has a great potential to improve tourism, which should be realized by the government. The EU Ambassador also briefed the Minister that the European Union is preparing to offer an Electoral Reform Package (15 million Euros) to train and assist the Election Commission of Pakistan to manage the next elections in the most efficient and transparent manner. On this the Minister also shared that in Pakistan the Electoral Reforms Committee has also done extensive work with participation from all political parties and wide consultation with the members of the Civil society and it is expected that there will a positive development soon in the introduction of a comprehensive law regarding the electoral process in Pakistan. The Finance Minister assured the Ambassador that his support and assistance will be available in all possible ways to strengthen the bilateral relations between Pakistan and the European Union. 11-01-2017 Workshop on Competency Management in the Public Sector Organizations Click here for details 10-01-2017 Finance Minister chaired a meeting regarding Pakistans investment climate and exports Click here for details 09-01-2017 Courses and Seminar at the IMF Singapore Regional Training Institute (STI) Click here for details 07-01-2017 PRSP Budgettary Expenditure of FY 2014-15 and FY 2015-16 Click here for details 07-01-2017 Corrupt persons to stand Permanently Disqualified from holding Public Office or from being a Government Servant Click here for details 06-01-2017 Finance Minister chaired a meeting of National Price Monitoring Committee Click here for details 06-01-2017 Finance Minister chaired a meeting of ECC Click here for details 05-01-2017 Finance Minister Conducts Computerized Balloting for Audit for Tax Year 2015 Click here for details 05-01-2017 Finance Minister urged stronger enforcement of AMLCFT Laws in Pakistan Click here for details 05-01-2017 Finance Minister Emphasized the Need for Early Promulgation of the New Company Law Click here for details 04-01-2017 Grant of M. Phil Allowance Rs. 2500- per month Click here for details 04-01-2017 Finance Minister chaired a meeting to review Tarbela Dam 5th Extension Hydro-power Project Click here for details 04-01-2017 Acting US Ambassador pays courtesy called on the Finance Minister Click here for details 04-01-2017 Rate of Mark-up chargeable on Development Loans and Advances by the Federal Government for the FY 2015-16 Click here for details 03-01-2017 Finance Minister chaired a meeting to review matters related to Privatization Click here for details 02-01-2017 Finance Minister chaired a meeting to review economic performance Click here for details 02-01-2017 Finance Minister addressed at the IT Ministry Function Click here for details 31-12-2016 Finance Minister Announced New Petroleum Prices with Effect From 1st January 2017 Click here for details 31-12-2016 Governor State Bank called on the Finance Minister Click here for details 31-12-2016 British High Commissioner called on the Finance Minister Click here for details 30-12-2016 U. S. Secretary of State telephone called to the Finance Minister Click here for details 30-12-2016 US Ambassador H. E. David Hale called on the Finance Minister Click here for details 29-12-2016 Finance Minister chaired a meeting to review progress on the implementation of National Financial Inclusion Strategy (NFIS) Click here for details 28-12-2016 Finance Minister chaired a meeting to review proposals of the AJK Council for AJK Budget 2016-17 Click here for details 28-12-2016 Finance Minister chaired a meeting of ECC Click here for details 27-12-2016 Finance Minister chaired Law Review Committee meeting Click here for details 26-12-2016 Naval Chief of Staff called on Finance Minister Click here for details 26-12-2016 Ministry of Finance Dispels Demonetization Rumors Click here for details 25-12-2016 Finance Minister takes notice of the fraud in National Bank of Pakistan Click here for details 25-12-2016 Finance Minister chaired a meeting to review matters related to SECP Click here for details 25-12-2016 Finance Minister chaired a meeting to review the measures taken by FBR on increasing the direct collection of taxes Click here for details 24-12-2016 WB delegation hold a meeting with Finance Minister Click here for details 24-12-2016 Finance Ministers letter to the President of WB on IWT Click here for details 23-12-2016 01-Day Training Course under ISFD Project Click here for details 23-12-2016 Finance Minister chaired a meeting to review matters related to Pakistan-China JCC Click here for details 23-12-2016 Finance Minister chaired a meeting on development policy credit for growth Click here for details 22-12-2016 Finance Minister chaired a meeting on macroeconomic indicators Click here for details 21-12-2016 Finance Minister chaired First Meeting Of The E-Commerce Policy Board Click here for details 21-12-2016 Finance Minister chaired a meeting with a delegation of the Lahore Chamber of Commerce and Industry Click here for details 21-12-2016 Finance Minister chaired a meeting to review financial matters pertaining to the upgradation of Pakistan Railways Click here for details 20-12-2016 Call for nominations for Training Courses at STI Civil Defence Relief Camp Management Course Click here for details 20-12-2016 Finance Minister chaired the meeting of ECC Click here for details 20-12-2016 Finance Minister chaired the meeting of ECNEC Click here for details 20-12-2016 Finance Minister chaired the 20th Meeting of PCER Click here for details 19-12-2016 Finance Minister chaired the 3rd meeting of the 9th National Finance Commission (NFC) Click here for details 18-12-2016 Appointment of Member, Competition Commission of Pakistan (CCP) Click here for details 16-12-2016 Finance Minister chaired a meeting to review matters related to Economic Affairs Division Click here for details 15-12-2016 Training - Civil Defence General Instructions Click here for details 15-12-2016 Finance Minister inaugurated F-9 Park Solar Lighting Project Click here for details 15-12-2016 Finance Minister chaired the meeting of ECC Click here for details 15-12-2016 Managing Director of Pak Suzuki Motors Mr. Hirofumi Nagao called on the Finance Minister Click here for details 14-12-2016 Finance Minister chaired a meeting on AML (Anti-Money Laundering) Click here for details 14-12-2016 Finance Minister chaired a meeting with Chairman SECP and his team Click here for details 14-12-2016 Finance Minister chaired the meeting to review the measures to attract FDI and improve local investment in the country Click here for details 13-12-2016 Revision of Management Grades (MP-I, MP-II, MP-III) and grant of Adhoc Relief Allowance - 2016 Click here for details 13-12-2016 Revision of Management Position Scales (MP-I, MP-II, MP-III) Click here for details 13-12-2016 Finance Minister chaired the meeting on matters related to Finance Division Click here for details 13-12-2016 Promotion of Islamic Banking in Pakistan Click here for details 13-12-2016 Finance Minister chaired the meeting of ECC Click here for details 13-12-2016 Rejoinder - Responding to News Item ADB stalls 300 million loan tranche over delayed reforms by Shahbaz Rana appreared in Express Tribune on 11th December, 2016 Click here for details 10-12-2016 President AJK met with Finance Minister Click here for details 10-12-2016 Finance Minister met with French Counterpart in Paris Click here for details 10-12-2016 Governor State Bank called on the Finance Minister Click here for details 09-12-2016 Finance Minister Holds Bilateral with CEO of French Development Agency (AFD) Click here for details 08-12-2016 Finance Minister held bilateral meeting with Secretary General,(OECD) in Paris Click here for details 07-12-2016 Finance Minister expressed grief over PK-661 Crash Click here for details 06-12-2016 Finance Minister attended the closing session of the 75th Anniversary celebrations of French Agency for Development (AFD), France Click here for details 06-12-2016 Finance Minister received a telephone call from Ms Catherine A. Novelli, Under Secretary of State for Economic Growth, U. S. State Department Click here for details 06-12-2016 Rebuttal - Reference to news item published in Ausaf dated 28-11-2016 titled US 3 billion additional debt in 4 months, inflation rising Click here for details 05-12-2016 Finance Minister will attend OGP Summit, AFD moot hold Bilateral Meetings in France Click here for details 05-12-2016 Rebuttal - Reference to news item published in Daily Duniya dated 21-11-2016 titled Government borrowed Rs. 8,000 billion, total debt crossed Rs. 22,000 billion in 3 years Click here for details 05-12-2016 Rebuttal - Reference to news item published in Daily Jinnah dated 22-11-2016 titled Total Debt crossed Rs. 22,000 billion Click here for details