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Miftah Ismail

Taxes to be increased in upcoming budget, says Miftah Ismail

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Finance Minister directs FBR to increase tax targets for next financial year

ISLAMABAD: Finance Minister Miftah Ismail on Wednesday said taxes would be increased in the upcoming budget which would be presented this month. In a statement, Miftah Ismail said the International Monetary Fund (IMF) wanted to reverse all the subsidies given by the government of Pakistan Tehreek e Insaf (PTI) Chairman Imran Khan. These actions will … Read more

Miftah Ismail lauds Bank of China’s contribution to financial, economic progress

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Miftah Ismail

ISLAMABAD: According to a news release released on Monday, Wang Jie, Country Head, and CEO of Bank of China Pakistan Operations, met with Federal Minister for Finance and Revenue, Miftah Ismail, at the Finance Division.

Ismail welcomed Jie and emphasised Pakistan-strong China’s economic and brotherly ties.

He also praised the Bank of China’s assistance to Pakistan’s financial and economic development.

Read More: IMF asked for “tough budget,” says Miftah Ismail

He was also promised the government’s full support and cooperation by the finance minister.

Jie gave the minister an overview of the bank’s portfolio and expressed gratitude for the government’s support.

The meeting also included a discussion of the present global and regional economic conditions. They also discussed Pakistan’s economy and foreign direct investment policies.

The CPEC was also discussed, with it being said that the corridor will serve as another milestone in consolidating Pakistan-China bilateral economic and fraternal relations, bringing prosperity to both countries.

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Khurram Dastgir predicts price increase in petroleum items before June 30

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Khurram Dastgir

KARACHI: Khurram Dastgir Khan, the Minister of Energy, has stated that the government will raise petroleum product pricing again before June 30.

“The next price hike is expected to be announced before June 30, because our public finances are in a dire state,” said Dastgir.

The comments came only days after the government raised the price of petroleum goods by Rs30 per litre in an attempt to resurrect the International Monetary Fund (IMF) programme.

Read More: Khurram Dastgir directs NTDC to accelerate work on ongoing projects

Finance Minister Miftah Ismail made the news at a hastily arranged press conference. He believes that obtaining an agreement on a staff-level deal with the IMF will be simpler given that positive discussions about the EFF’s revival are taking place with the Fund.

The current government is dedicated to resurrecting the program’s stalled $6 billion Extended Fund Facility (EFF), which is critical for a country with diminishing foreign exchange reserves and mounting debt and import obligations.

The latest pol prices were Rs179.86 per litre petrol, Rs174.15 per litre diesel, Rs155.56 per litre kerosene oil, and Rs148.31 per litre light diesel after the announcement.

According to Dastgir, the move to raise petroleum product pricing was critical in reducing the country’s expanding current account deficit. “It is with a very heavy heart that the decision was taken by the government, as we need to reduce our deficit”

“On a daily basis, millions of litres of petroleum are consumed, the government was incurring losses to the tune of Rs102 billion per month due to petroleum product subsidy. Therefore, Prime Minister Shehbaz Sharif after consulting his allied partners decided to reduce the subsidy and increase funding for the direct relief measures for the public,” said the minister.

For the latest Business News Follow BOL News on Google News. Read more on Latest Business News on oldsite.bolnews.com

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IMF asked for “tough budget,” says Miftah Ismail

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Miftah Ismail

KARACHI: Finance Minister Miftah Ismail announced on Saturday that the International Monetary Fund (IMF) has asked for a “tough budget” for the upcoming fiscal year, however the federal government is confident that IMF would revive the bailout programme for Pakistan. In his statements during the ‘National Economy Dialogue – The Way Forward for Pakistan’ held … Read more

Miftah Ismail emphasised importance of keeping sugar strategic reserves

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ECC

ISLAMABAD: Finance Minister Miftah Ismail has informed the Pakistan Sugar Mills Association (PSMA) that the current government is aware of the concerns confronting Pakistan’s sugar industry and is eager to address them as soon as possible. During a meeting in the Finance Ministry on Friday, the finance minister was speaking with PSMA Chairman Chaudhry Zaka … Read more

Pakistani rupee appreciates to 199 against USD

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Pakistani rupee

KARACHI: The Pakistani rupee made a strong comeback on Friday, rising to 199 against the US dollar in intra-day trade on the interbank market. This was due to an uptick in market mood following an overnight unexpected boost in petroleum product prices, which raised hopes for a resurrection of the International Monetary Fund’s (IMF) programme. … Read more

Government is dedicated to resuming IMF programme, says Miftah Ismail

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ECC

KARACHI: The Pakistan Muslim League-Nawaz (PML-N) government is “committed to reviving the IMF programme and put Pakistan back on a sustainable growth path.” according to Finance Minister Miftah Ismail. Ismail had returned from Doha, Qatar, where Islamabad and the fund had been holding discussions from May 18 to 25. Finance Minister Ismail and Nathan Porter, … Read more

Officials from Finance Ministry are going to Doha to talk with the IMF

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Finance Ministry

With the economic state of affairs of a country in limbo, a group of the Ministry of Finance, which includes Finance Minister Miftah Ismail, left for Doha on Tuesday to keep talks with the International Monetary Fund (IMF). “Finance Division’s team is leaving for consultations with the IMF Mission at Doha from tonight. Meetings will … Read more

Government must take all reasonable steps to keep the rupee stable

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Government

As the Pakistani rupee endured its downward streak in opposition to the dollar, Finance Minister Miftah Ismail on Saturday vowed that the authorities could take all feasible measures to stabilize the local unit and the overseas forex market. Presiding over an assembly of the heads of foremost trade organizations, Miftah Ismail expressed the company remedy … Read more

Miftah Ismail holds meetings with global bond investors in London

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The key global bond investors have shown keen interest in investing in Pakistan. During a meeting with Finance Minister Miftah Ismail in London, they appreciated the steps taken by the government of Pakistan to ensure fiscal sustainability. More than 30 global investors in global debt markets, representing asset managers, sovereign wealth funds and hedge funds … Read more

Pakistan can’t afford subsidy on petroleum products: Miftah Ismail

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WASHINGTON: Hinting towards looming massive rise in petrol price, Federal Minister for Finance and Revenue Miftah Ismail has said Pakistan could not afford to continue subsidy on petroleum products because of its economic condition. Addressing a press conference in Washington, he said the International Monetary Fund (IMF) had agreed to send its mission to Pakistan … Read more

IMF team visit Pakistan for meetings with Finance Minister Miftah Ismail

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IMF team

The International Monetary Fund announced that it will likely be sending a project to Pakistan in May after the worldwide lender held “several meetings” with Finance Minister Miftah Ismail and his team in Washington. The assertion of the project’s visit to Pakistan turned into made in a press release issued by means of the Finance … Read more

Zulfi Bukhari offers free coaching on Web 3.0 to Miftah Ismail

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ISLAMABAD: Pakistan Tehreek e Insaf (PTI) leader Zulfikar Bukhari on Sunday offered free consultancy services and coaching on Web 3.0 to Finance Minister Miftah Ismail, after the latter’s admission that he did not know about the third generation internet. Miftah had stated this in response to a question at the Atlantic Council, an American think … Read more

The hardest hit

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inflation

KARACHI: The global wave of inflation has hit Pakistan hard. The low-income segment of the society has particularly been affected by the sharp rise in the prices of basic kitchen items. The average inflation based on the Sensitive Price Indicator (SPI) increased 18.09 per cent on a year-on-year basis by the week ended February 18, … Read more

Miftah Ismail promises ‘juicier Chili Milli’ for of PML-N vote in next general elections

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ECC

Businessperson Miftah Ismail who is also a leader in Pakistan Muslim League-Nawaz (PML-N), has assured to make Chili Milli, his corporation’s one of the utmost famous candies, juicier if the community gives the vote to PML-N in the next general elections. While replying to a tweet by a Twitter user, he put out the circumstance … Read more

Govt vows to bring prices of essential items down

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essential items

KARACHI: The government has vowed to bring the prices of essential items down and expressed the hope that the need for continued subsidy will no longer be required, a spokesman for the Ministry of Finance said. Responding to the press conference by former finance minister Miftah Ismail, he said the foreign exchange reserves have witnessed … Read more

In Pre-budget seminar, PML-N chides PTI over economic policies

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Pre-Budget seminar

PML-N on Thursday slammed the incumbent government for the economic policies adopted in the last three years as the budget for the fiscal year 2021-22 is right around the corner. Addressing the Opposition’s pre-budget seminar, former Prime Minister Shahid Khaqan Abbasi said that Prime Minister Imran Khan “has no knowledge of the basics of economics” … Read more

PML-N vows not to let budget pass in NA as it slams PTI Govt. for rising prices

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budget pass in NA

PML N cannot accept upcoming “anti-people” budget, says PML-N leader Miftah Ismail In the last 2 years, the rate of inflation has not gone below 10%, deplores Ismail He said that Finance Minister Shaukat Tarin is right when he says that the “economy is in shambles because of Imran Khan” PML N will not let … Read more

PTI Files Petition Seeking Annulment Of NA-249 By-Election

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PTI Files Petition Seeking Annulment Of NA-249 By-Election

Pakistan Tehreek-e-Insaf (PTI) has filed a petition seeking annulment of the NA-249 by-election of the Karachi constituency. The petition filed by PTI in the Election Commission stated that before the election, NA-249 17,000 votes were transferred from Karachi to other cities and the preferred officers were brought from the Education Department as Presiding Officers. The … Read more

PM Imran wants electoral voting system following a low turnout in NA-249 by-election

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NA-249 by-election PM Imran

After Pakistan Peoples Party (PPP)’s Qadir Khan Mandokhail won the NA-249 by-election held on Thursday, April 29, ruling party PTI and PML-N have filed a petition in the Election Commission of Pakistan (ECP) for a vote recount, which was dismissed later. 

Prime Minister Imran Khan has on Saturday took to Twitter to comment over the “rigging” claims in the NA-249 by-election. He said that apart from the 1970 election, in every election claims of rigging have raised doubts over the credibility of election results.

He further raised the point that many leaders were demanding the Opposition to cooperate and help reform our present electoral system in order to have transparent election results.

His tweet read, “Trump’s team did everything to dispute 2020 presidential election result; but because the technology used in the electoral process, not one irregularity was found. For a year now we have been asking the Opposition to cooperate with us & help reform our present electoral system.

He also referred to the US Presidential Elections 2020 saying that the technology used for the elections gave out the proper results choosing Joe Biden’s presidency and dismissing Donald Trump.

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NA-249 By-Polls Result: Votes Counting Continues For Assembly Constituency

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PS-70 by-election In Badin: Polling To Begin Today

Polling time has ended in the NA-249 constituency of Karachi while counting of votes is underway. According to details, results of NA-249 by-elections, 87 out of 276 polling stations have been received. According to unofficial results, Miftah Ismail of PML-N is leading with 4654 votes while Qadir Mandokhel of PPP is at the second position … Read more

NA-249 By-Polls: Who Will Solve Water Problems Of The Constituency?

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NA-249 By-Polls: Who Will Solve Water Problems Of The Constituency?

Polling for the by-election in the NA-249 constituency of the National Assembly in Karachi, the country’s largest city, will be held on Thursday. The constituency was vacated due to the resignation of Pakistan Tehreek-e-Insaf (PTI) National Assembly member and Federal Minister Faisal Vawda after he became a senator. For the, 30 candidates are contesting from … Read more

NA-249 By-Polls: Ordered Issued To Deploy Rangers To Ensure Peaceful Polling

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NA-249 By-Polls: Ordered Issued To Deploy Rangers To Ensure Peaceful Polling

The Federal Home Department has issued orders for the deployment of Rangers on the day of by-polls in NA-249 in Karachi. According to the Home Ministry order, Rangers will be deployed outside all polling stations in NA-249 from April 28 to 30. The request for deployment of Rangers in the constituency was made by the … Read more

NA-249 By-Polls: ANP Withdraws Its Candidate In Favour Of PMLN

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NA-249 By-Polls: ANP Withdraws Its Candidate In Favour Of PMLN

Pakistan Muslim League-Nawaz (PML-N) leader Miftah Ismail has lauded the ANP’s move to withdraw its candidate in favour of him in the by-elections of the National Assembly constituency 249. Addressing a campaign rally in NA-249, he said, “We hope that with this favour, we will win this election.” He said that Nawaz Sharif served the … Read more

Islamabad High Court grants bail to Miftah Ismail

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Islamabad

Islamabad High Court (IHC) granted bail to former finance minister Miftah Ismail in liquefied natural gas (LNG) case. The high court approved the bail on Monday against bonds worth Rs10 million for the former finance minister. Earlier, on July 19, the Sindh High Court (SHC) approved the PML-N leader’s plea for protective bail in the … Read more

NAB extends Shahid Khaqan’s, Miftah Ismail’s judicial remand till October 28

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Shahid Khaqan's judicial remand extended till October 28

Accountability court on Friday has extended judicial remand of former petroleum minister Shahid Khaqan Abbasi and ex-finance minister Miftah Ismail till October 28 in liquefied natural gas (LNG) scandal. Talking to media after the hearing, ex-PM Shahid Khaqan Abbasi said that there is no corruption charge against Pakistan Muslim League-Nawaz (PML-N) leaders and that government … Read more

Miftah Ismail’s physical remand extended till August 30

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Miftah Ismail's physical remand extended

An accountability court on Monday extended the physical remand of the former finance minister Miftah Ismail and former managing director of Pakistan State Oil (PSO) Imranul Haq till August 30 in the LNG corruption case. According to the details, both accused were presented before the Judge Muhammad Bashir after the completion of their physical remand … Read more

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