Allied Business Finance

Economic Adviser Finance Division briefed the NPMC about weekly SPI which witnessed decrease by 0.06% as compared to previous week which was 0.43%. 33 food items contributed increase of 0.05%, whereas 18 non-food items contributed decrease of 0.11% to the SPI. NPMC was informed that there is decline in SPI for third time since December 31st, 2021. Secretary Ministry of I & P updated the meeting on strategy to ensure fair prices of edible oil in market in coordination with provincial authorities against the edible oil manufacturers for undue price escalation. The Chair further directed Ministry of Industries and Production to work out pattern of demand and supply of different varities & brands of edible oil and take corrective measures to control undue price hike. Economic Adviser Finance Division briefed the NPMC about weekly SPI which witnessed increase by 1.35% as compared to previous week which was decline of 0.11%.

Rs12 6bn Pu Budget Recommended For Fy2021

The team also highlighted about the PM’s motive for ‘Investment in Sustainable Infrastructure’ and commended the efforts of current government in this regard. Federal Minister for Finance and Revenue Mr. Shaukat Tarin, presided over a meeting on Low Cost Housing at Finance Division today. Chairman NAPHDA, Lt. Gen Anwar Ali Hyder, Governor SBP and other senior officers attended the meeting. It was apprised that prices of eggs decreased by Rs. 32 per dozen during last 6 weeks and overall there is improvement in market supply of eggs, onions, potatoes and tomatoes. But it was ensured that the prices of chicken will be back to normal price in near future.

Whereas CPI for Month-on-Month basis remained at -0.02 % in December 2021, however it was 3.0% in November 2021. The NPMC was briefed on the availability of essential goods at subsidized rates at the Sastaa & Sahulat Bazaars across the country. He also advised Government of Sindh and the Baluchistan to extend Sastaa Bazaars for the welfare of the general public. On the prices of edible oil in the country, Secretary Ministry of I&P informed the meeting that appropriate strategy is being chalked out against the edible oil manufacturers to address the issue of charging higher prices from domestic consumers relative to prices in the international market.

To meet the said working capital requirement Meezan Bank has complete range of products. Under National Financial Inclusion Strategy and strategic direction of SBP, SME sector has been identified as one of the key priority areas. In line with the strategic direction of SBP, key benchmarks to be achieved by 2020 are i) to increase SME share from existing 8 percent of private sector credit to 17 percent and ii) to increase number of borrowers from existing 174,000 to 500,000. Through this corporate arrangement, HBFC will facilitate the employees of Salaam Takaful Limited to avail housing finance facility across Pakistan on preferential terms & conditions. Through this corporate arrangement, HBFC will facilitate the employees of IGI Life to avail housing finance facility across Pakistan on preferential terms & conditions.

Iban Account

HBFC plans to make this drive a continuous activity in the future and is committed to plant more trees in different areas across the country. There are a number of pathways to choose from including audit, taxation, budget analysis, financial accounting and management accounting. Syllabus coverage of the courses allows the students not only to attain the BS degree but also to attempt ACCA papers, within the 4 years. At the end of this time period, a candidate may become a graduate and a professional qualification holder. ACCA offers exemption of first 9 papers to the graduates of UCP, BS Accounting and Finance Programme. This is the first degree in Pakistan provided by the University of Central Punjab that has been awarded with exemption of 9 papers of ACCA .

And required steps are being undertaken for easing out the loan disbursement process along with greater access and transparency. The chair directed M/o Commerce to formulate a viable plan for price determination of potatoes. The Chair re-directed Ministry of NFS&R to expedite the process to formulate forecasting unit for major and minor crops for timely decision making. Mr. Mohammad A. M. Al-Fares shared that Kuwait greatly values its bilateral relations with Pakistan. Both sides promised to enhance these bilateral ties in various areas including investment, trade and business.

Business Wants Nothing But An End To Uncertainty

In the follow-up meeting, Chairman PPMA thanked the Finance Minister for addressing the problems being faced by the Pharmaceutical manufacturers and further apprised the chair of the pending issues related to refund of sales tax on APIs. Ministry of Planning, Development and Special Initiatives submitted a summary regarding revised standardize pay packages for the staff directly recruited under development projects. The ECNEC after due deliberation approved to enhance the Project Pay Scale at rate of 75%.

Mr. Hatem Dowidar, CEO Etisalat reaffirmed to have evaluation of properties completed soon and expressed readiness to further invest in IT and Telecom sector in Pakistan. Both sides agreed to proceed ahead for resolution of all outstanding issues between Etisalat and the Privatization Commission in a spirit of goodwill. The Chair also observed hike in the price of milk in Sindh province and directed provincial authorities to take appropriate measures to ensure stability in the price of milk. The Ministry of Industries and Production submitted a summary on grant of arrival/priority berthing of TCP’s Urea vessels at Karachi Port Trust . Considering the urgent requirement of Urea in the country, the ECC approved the proposal.