Tag Archives: Shaikh

Hafeez Shaikh confident of fresh energy investment

WASHINGTON – Finance Minister Dr Abdul Hafeez Shaikh expressed confidence of new foreign investment flowing into Pakistan’s energy sector as he wrapped up four days of meetings with leaders of international financial institutions, his counterparts and US officials. “I think our message about vast business opportunities in Pakistan, the government’s liberal investment regime and policy to facilitate the private sector has been well received,” he told those at a press conference.

Shaikh says Pak-US ties must be long-term

WASHINGTON – Islamabad on Monday called for a sustained Pak-US strategic partnership, with Finance Minister Hafeez Shaikh arguing that the past periods of estrangement due to non-economic considerations signified that a relationship based on strong mutual economic interests would help build long-term ties.
At an interaction with American intellectuals at Woodrow Wilson Center, Shaikh said the economic relations between the two nations had survived vicissitudes of the world and

Hafeez Shaikh for broadening tax base

ISLAMABAD – Federal Minister for Finance and Economic Affairs Dr Abdul Hafeez Shaikh has asked the Federal Board of Revenue (FBR) to devise a mechanism for minimising the gap between the number of NTN (National Taxation Number) holders and the actual tax payers.
He was speaking to members of the FBR in the second meeting of Broadening Tax Base in the Ministry of Finance. He asked FBR to constitute a special team of selected officers and staff to process the devised mechanism and

Sindh govt not taking PML-F into confidence: Shaikh

KARACHI – Even though the Pakistan Muslim League-Functional (PML-F) is a coalition partner of the Pakistan People’s Party (PPP), the PPP-led Sindh government neither takes the PML-F into confidence on any issue nor invites it to the core committee meetings, PML-F leader Imtiaz Shaikh said on Sunday while talking to party activists at his residence.
Shaikh said that President Asif Ali Zardari always gives importance to the PML-F as an ally of the PPP in Sindh and the federation.

Deliver or quit, Shaikh tells tax mandarins

ISLAMABAD – Finance Minister Dr Abdul Hafeez Shaikh asked the tax mandarins in a stern warning on Wednesday to rise to the occasion by delivering the tax collection target of Rs 1.604 trillion for the current fiscal year, or leave their offices for others to deliver. The minister was addressing a specially convened conference of chief commissioners and Inland Revenue commissioners to review their performance and set revenue collection targets for the remaining four months of the

Pakistan aims to keep deficit at 5pc of GDP, says Shaikh

KARACHI – Pakistan will aim to keep its budget deficit at five percent of gross domestic product (GDP) in the fiscal year 2010-11, Federal Finance Minister Hafiz Shaikh said on Saturday. “For this (fiscal) year, we will try to not let the fiscal deficit go beyond five percent,” Shaikh said after launching a margin trading system at the country’s main stock exchange. The 2010-11 fiscal year runs from July to June.
“This might not be possible but we will try our best.” The budget

Govt mulling targeted subsidy on POL, says Shaikh

ISLAMABAD – Finance Minister Dr Abdul Hafeez Shaikh on Friday said the government was considering giving targeted subsidy on the petroleum products to the low income groups.
Talking to media at the golden jubilee celebration of Institute of Charter Accountants of Pakistan (ICAMP), the minister said the proposal would be considered for implementation if the prices of petroleum products go up further in the international market.
“Presently even the rich who could afford the

Gilani directs Shaikh to resolve circular debt issue

ISLAMABAD – Prime Minister Yousaf Raza Gilani on Friday asked Finance Minister Abdul Hafeez Shaikh to hold meetings with all the stakeholders and resolve the circular debt issue. In a meeting held at the Prime Minister’s House and also attended by Petroleum Secretary Imtiaz Qazi and PSO MD Irfan Qureshi, Gilani directed Shaikh to discuss the issue and come up with a solution after holding meetings with the secretaries of Petroleum, Water and Power and Railways at the earliest.

Deficit to touch 8% if reforms delayed: Shaikh

ISLAMABAD – Stressing the need for economic reforms, Finance Minister Dr Abdul Hafeez Shaikh on Tuesday said that if appropriate reform measures are not taken in time to contain the fiscal deficit then it might go up to 8 percent of the GDP during the current fiscal year.
However, he said, the government will not allow it to happen and will take appropriate measures. “Some of the measures taken by the government have reduced the fiscal deficit below 3 percent of GDP for the first

Shaikh Zayed College clinches top positions in MBBS Part-I exams

LAHORE – University of the Punjab has notified the result of MBBS Part-I examination, in which Shaikh Khalifa Bin Zayed Al-Nahyan Medical & Dental College, Lahore has secured top 14 positions.
Nafeesah Fatimah (Roll No 273) secured the first position with 473 marks out of 600, while Mehreen Kamran (Roll No 270) and Rohma Awais (Roll No 276) secured the second and third positions with 468 and 459 marks respectively.
SZH to organise orthopedic surgery course:
The Sheikh

Exports to touch $22 billion, says Hafeez Shaikh

KARACHI – Federal Minister for Finance Affairs Dr Abdul Hafeez Shaikh has said that exports will touch $22 billion during the current fiscal year.
Speaking to media personnel at the head office of the State Bank of Pakistan (SBP), he said the government was optimistic of the potential of exports and also expressed hope that remittances will touch over $10 billion.
“Our economic team is very optimistic and we are hopeful of promising results in the future,” he said. Shaikh

Shaikh briefs Likeminded

ISLAMABAD – Pakistan Muslim League-Likeminded leadership was briefed and their help sought on country’s present economic challenges by Federal Finance Minister Abdul Hafeez Shaikh on Thursday. The PML-Likeminded leaders, including Senators Salim Saifullah, Haroon Akhtar and Kashmala Tariq met Hafeez Shaikh at the Ministry of Finance on the latter’s invitation. They assured Hafeez of their full cooperation.

GST not an inflation trigger: Hafeez Shaikh

ISLAMABAD: Federal Minister for Finance Hafeez Shaikh said the reformed General Sales Tax (GST) would not be a catalyst for further inflation in the country.
“The RGST will not trigger inflation; no government wants to compound problems for its citizens”, Hafeez Shaikh said while talking to reporters after attending the meeting of the Senate Standing Committee on Finance, here on Monday.
When queried on whether the bill would encourage corruption and the pressing need for

Malik, Shaikh not on the same page

ISLAMABAD: Conflicting statements made by two federal ministers on loan waivers has landed the government in embarrassment.
In the PDF meetings, Interior Minister Rehman Malik and Finance Minister Hafeez Shaikh made contradictory statements exposing to foreign participants that the Pakistani government had not worked out its strategy.
On Sunday, Malik asked the world to write off loans worth $50 billion to help Pakistan move ahead with the war on terror, whereas on the