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Additional tax revenues to be spent on welfare projects: PM Shehbaz

Prime Minister Shehbaz Sharif has said the additional tax collection will be spent on health, education, and other public welfare projects. He said this in a statement in response to the Lahore High Court’s decision of dismissing the stay order on windfall tax on banks’ additional income, benefiting the national treasury by 11.5 billion rupees, and a total of 34.5 billion rupees over the last month. The Prime Minister, taking notice of the stay order cases regarding the windfall tax imposed on banks’ additional income under the Finance Act 2023, had directed the Minister of Law, Minister of Finance, Attorney

Govt successfully steers country out of economic turmoil, says Rana Sanaullah

ISLAMABAD: Advisor to the Prime Minister on Political and Public Affairs, Rana Sanaullah said that the government has successfully steered the country out of economic turmoil, providing a stable foundation for further progress. Talking to a private news channel, he said that Parliament remains the best platform for discussing and resolving national issues. “We believe every matter should be addressed through democratic means,” he asserted. Addressing concerns regarding coalition partners, he acknowledged that minor disagreements are natural in coalition governments but clarified that there is complete understanding on fundamental issues. Replying to a question, he said that political matters must

Govt pledges support to private sector for export growth, says Ahsan Iqbal

Minister for Planning Ahsan Iqbal says the government is committed to provide policy support and investment facilities to the private sector to stimulate exports and bring innovation into the economy. He was chairing second meeting of the Policy Board under “Uraan Pakistan” Programme in Islamabad. The meeting emphasized promotion of private investment, export growth, industrialization, infrastructure up-gradation, innovation, and the advancement of modern technologies to drive Pakistan’s economic development. Speaking on this occasion, Ahsan Iqbal highlighted the need to focus on the 5Es framework to transform Pakistan into a three trillion dollars economy by 2047. Various proposals were also presented

ECC approves Pakistan’s NDB-BRICS membership

The Economic Coordination Committee of the Cabinet has approved over 27 billion rupees to ensure financial support for key initiatives. The ECC, which met in Islamabad with Finance Minister Muhammad Aurangzeb in the chair, approved a technical supplementary grant worth 19.15 billion rupees for 133 schemes of the defunct Pakistan Public Works Department. It also okayed 5.36 billion rupees to execute development schemes under the SDGs Achievement Programme with 4.25 billion rupees allocated for Sindh and 1.11 billion rupees for Khyber Pakhtunkhwa. The approval was also granted to an amount of 1.914 billion rupees in favor of NADRA, ensuring the

Pakistan, Turkiye pledge to achieving $5b trade volume

Pakistan and Turkiye have agreed to continue their efforts to reach the goal of five billion dollar trade volume. This came at a meeting between Prime Minister Shehbaz Sharif and Turkish President Recep Tayyip Erdogan and Pakistan-Turkiye High Level Strategic Cooperation Council meeting in Islamabad. Later addressing a press stakeout, Turkish President Recep Tayyip Erdogan said both the countries have considered expanding the scope of their current goods trade agreement in the first stage. Recep Tayyip Erdogan said Turkish investors will be encouraged to engage more in Pakistan and develop flagship projects. He said our military dialogue and cooperation in

Pakistan set for economic growth after stability: PM Shehbaz

Prime Minister Muhammad Shehbaz Sharif says Pakistan is taking off for economic growth after attaining macroeconomic stability. Presiding over the Federal Cabinet meeting in Islamabad, he lauded the tireless efforts of the government’s economic team for achieving the milestone of macroeconomic stability. The Prime Minister said the government is also taking effective measures and making untiring efforts to speed up journey towards achieving the goal of economic growth. Turning to his recent successful visit to the United Arab Emirates, Shehbaz Sharif said he had very fruitful meetings with the world leaders including UAE President Sheikh Mohamed bin Zayed Al Nahyan,

Maryam Nawaz chairs 23rd provincial cabinet meeting to approve ‘Zero Time to Start Policy’ for Industries

Lahore: Chief Minister Punjab Maryam Nawaz Sharif presided over 23rd provincial cabinet meeting in which 90-points were discussed. The provincial cabinet took an important decision to promote industrialization in Punjab and approved ‘Zero Time to Start Policy’ for Special Economic Zones, Industrial Estates, and Small Industrial Estates. The Chief Minister said, “Investors should come, set up industries, start their work, action will be taken later on. We want to provide all kinds of facilities to the industrialists in Punjab for doing business. They may set up as many industries as they can, they will be given NOCs immediately. The difficult

Pakistan, KSA ink two financing agreements worth over $1b

Pakistan and Saudi Fund for Development have signed two financing agreements worth over one billion dollar. These agreements include “Deferred Payment for Oil Import from Saudi Arabia” worth 1.2 billion dollar for one year and “Construction of Gravity Flow Water Supply Scheme” at Mansehra amounting to 41 million dollar. Secretary Economic Affairs Dr Kazim Niaz and Chief Executive Officer Saudi Fund for Development Sultan Abdulrahman Al-Marshad signed the agreements. Among others, Prime Minister Shehbaz Sharif and Saudi Ambassador Nawaf bin Said Al-Malki witnessed the signing ceremony.

PM Shehbaz directs to set up world-class cargo scanning system

Prime Minister Shehbaz Sharif has directed to establish a world-class cargo scanning system in Karachi and other major trading centers of the country. Chairing a review meeting regarding transit cargo and tracking system in Islamabad, he instructed to ensure the implementation of a system equipped with modern technology and abolish the obsolete system of tracking, tracing and scanning. He also directed to ensure the third-party validation of the quality of cargo tracking service providers. Shehbaz Sharif said there has been a significant decrease in the smuggling due to improvement in the tracking system. The Prime Minister said, due to curtailing

PM Shehbaz to chair federal cabinet meeting today

ISLAMABAD– Prime Minister Shehbaz Sharif has summoned the federal cabinet meeting to be held today (Tuesday) in Islamabad to discuss the current political, economic and security situation in the country. The prime minister will preside over the meeting which will be held at the Prime Minister’s Office. The cabinet will discuss an eight-point agenda during the meeting. According to sources, recommendations of the Right Sizing Committee will be presented for approval during the meeting. The cabinet will also give approval to merge the Narcotics Division in the Ministry of Interior. The summary of the merger of the Aviation Division with

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