ISLAMABAD: The government has asked the PML-N to give it four days to come up with an implementation plan on the party’s 10-point agenda. The eighth round of the parleys between the PPP ministerial team, led by Finance Minister Abdul Hafeez Shaikh and the PML-N committee led by Senator Ishaq Dar was held on Friday. The government’s team included newly-appointed ministers, Raza Rabbani, Naveed Qamar and Babar Awan. Two members of the government team – Raja Pervez Ashraf and Hina
ISLAMABAD – The government has reached an understanding with the State Bank of Pakistan (SBP) that it would borrow from the market to bridge fiscal deficit if the projected external inflows did not materialise during the current fiscal year. An official source said that decision was finalised after the central bank expressed concerns over the government borrowing if projected external inflows did not materialise during the current fiscal years.
Worries were related to the
ISLAMABAD – The State Bank of Pakistan (SBP) has advised the government to abstain from the wheat procurement drive during the current financial year, without selling off its current stock of 6.5 million tonnes of wheat, against which government departments still owe Rs 250 billion.
A Finance Ministry official said the SBP had asked the government to take urgent steps to reduce the commodity loan of Rs 351 billion. The federal and provincial departments had taken loans of Rs 250
HAFIZABAD – Punjab Chief Minister’s Task Force on Education Chairman Saira Afzal Tarar said the provincial government was committed to providing all basic needs of life to the people in the Punjab with out any discrimination.
She was addressing a meeting held in the meeting room of Hafizabad Tehsil Municipal Administration on Monday.
She said that Punjab government was spending more than Rs 2 billion on the completion of different development schemes in district. She said
ISLAMABAD – PML-Q Secretary General Mushahid Hussain Syed on Monday termed the PPP government corrupt and inept which had miserably failed in providing relief to the poor masses of the country.
Addressing a labour convention held here at the Pakistan Muslim League House, Mushahid Hussain said that Pakistan was a fit case for Egypt-like revolution as the country was facing massive financial crisis. Terming the PML as a symbol of federation, Mushahid said his party leadership could
PESHAWAR – Owing to the severe financial crisis in the country, the federal government has contacted the Khyber Pakhtunkhwa government for two holidays in a week. The suggestion was presented by the Ministry of Finance after which the Cabinet Division and the ministry contacted the provincial Home Ministry and also sent letters to the chief secretary.
It was mentioned in the letter that in order to control the financial crisis and fiscal deficit, all the provincial governments
ISLAMABAD – Following a refusal by the International Monetary Fund (IMF) to revive the suspended $11.3 billion standby arrangement until economic reforms are implemented, the government has started looking at other options to meet its rising fiscal deficit.
An official source said that at present, the government was in a stable position, as exports were expected to increase to $22 billion and remittances of $10 billion were estimated during the current financial year. “With these
KARACHI – Given the sharp rise in international crude oil prices escalating to $101 per barrel due to instability in Egypt and Tunisia, the government is fast running out of options with regards to keeping product prices stable; the reduction in petroleum development levy (PDL) for two months only is estimated to have cost the government revenue kitty to the tune of Rs 12 to 13 billion.
If the PDL is maintained at current levels for the rest of the fiscal year cumulative
ISLAMABAD – The government has reportedly raised electricity prices by Rs 2 per unit secretly and the Upper House of Parliament should take notice of the issue, Professor Khurshid Ahmed said on Tuesday.
“It has been reported that the government has raised the power prices by Rs 2 secretly which is certainly unfair and the house should take notice of the issue,” Professor Khurshid said while speaking on an adjournment motion. Later, the Leader of the House Nayyar Bukhari did not
LAHORE – Rice Exporters Association of Pakistan (REAP) Vice Chairman Taufiq Ahmed Khan has pointed out that despite limited source, REAP members had exported 4.6 million tonnes of rice to different parts of the world in 2009-10.
He was addressing a delegation of 34-member newly inducted officers of Commerce and Trade Group, along with Pakistan Institute of Trade And Development (PITAD) Assistant Director Shafiq Haider Virk and Trade Development Authority of Pakistan (TDAP)
FAISALABAD – Due to the increasing number of protest rallies in the city, the city government is considering reserving a venue for all sorts of protestors to discharge their anger against the government without halting the city life. The idea was conceived by District Coordination Officer (DCO) Nasim Sadiq who floated his proposal during his recent meeting with the trader’s community.
Ghanta Ghar Chowk and surrounding eight bazars’ area is currently being used as the spring board
SIALKOT – The provincial government has finally shelved the project of establishing the Sialkot-Lahore Motorway due to prolonged non-availability of the funds. The revenue department has lifted the ban imposed on the sale and purchase of the land acquired several years ago for the motorway and has advised the concerned officials to give back the acquired land to its actual owners by getting back the money from them.
A formal official notification has also been issued by the
KARACHI – Warnings against ‘inflationary’ government borrowings from banking system seem to have fallen on deaf ears, as the banks’ lending to government has touched new highs. Analysts propose austerity and recovery plan of the squandered money as a short-term remedy to the prevailing alarming situation.
The State Bank’s provisional figures reveal that the government has borrowed Rs 337.119 billion from the banking system during the first half of current fiscal year.
LAHORE – Provincial Food Minister Chaudhry Abdul Ghafoor has said that an agreement has been sealed between Punjab Food Department and private buyers for the purchase of one million tonnes of wheat, which will be exported as wheat price in the international markets has increased.
On the other hand, wheat exporters believe that the provincial government is looking towards wheat export through rose-tinted glasses. Exporters estimate Pakistan cannot export more than 300,000 tonnes
LAHORE – The federal government has no intention to change the blasphemy law, Punjab Governor Latif Khosa said on Thursday. He made these remarks while visiting the Jamaat-e-Islami’s (JI) headquarters at Mansoora.
“On behalf of the federal government, let me categorically state that we had never planned to change the blasphemy law and will also not do so in the future. Any change is absolutely out of question. We will fight to protect honour of our Holy Prophet (PBUH),” the
JEDDAH – Former president Pervez Musharraf has said that a national government should be formed in Pakistan in the country’s best interest, adding that he will definitely return.
“I will definitely go to Pakistan. I am only waiting for my political party to gain ground after which I will go and face the court cases,” Musharraf said in an interview with Arabian language newspaper Al-Sharq AlAusat, adding “I left Pakistan because the judges are political and my life was in
TUNIS – Protesters pressured Tunisia’s new interim government to quit on Tuesday in the wake of president Zine El Abidine Ben Ali’s ouster, as the cabinet prepared a major shake-up and a top US envoy visited.
Hundreds of protesters from impoverished regions in central Tunisia chanted anti-government slogans in front of Prime Minister Mohammed Ghannouchi’s offices for a third day, saying they would not leave until the cabinet resigns. The new government has announced unprecedented