ISLAMABAD: Minister of State for Finance and Revenue, Dr Ayesha Ghous Pasha has assured that talks with Saudi Arabia for getting three billion dollars are underway.
She was talking to the media after the meeting of the Senate Finance committee.
She said that the ministry’s team is making considerable progress and hopefully, after the holidays, the talks will move forward.
The State Minister also said that they are also holding discussions with China for a $3 billion loan and things are moving forward in this regard.
She said that Pakistan will also meet its external payment obligations and will return the loans that are due in January. Adding on to that, she said that we have more foreign exchange reserves in the pipeline and there is nothing to worry about.
She said that Finance Ministry officials will meet with the IMF officials at the Donors Conference in Geneva on January 9, 2023.
She assured that negotiations with the IMF will start again after the holidays and the matters with the IMF will be settled as well, she vowed.
She also said that the ministry has shared the flood damage estimates with multilateral international organizations and will also find out how much external funding they will be able to receive, at the donors conference.
Ayesha Ghous Pasha also said that the government had banned import of unnecessary and luxury items in the best interest of the country, but now they are relaxing these restrictions and SBP is also lifting ban on LCs from the 2nd of January.
Earlier, responding to the presentation of the Malakand Chamber of Commerce and Industry, at the Senate Standing Committee on Finance, held on Thursday, Aisha Ghous Pasha stated that the demand for exemptions should be clearly justified . She maintained that distortions should not be created, due to the proposed sales tax and excise duty exemption, for the steel and ghee/cooking oil units in the tribal areas.
“We do not want to create any distortion in the taxation system and If you justify these exemptions, the government would be ready to consider the same”, she added.
Ishtiaq Ahmad, the President of the Malakand Chamber of Commerce and Industry protested that the FBR had established Inland Revenue Enforcement Network (IREN) check posts, to conduct surveillance of exit points from non-taxable areas, i.e, Federally Administered Tribal Areas (FATA) and the Provincially Administered Tribal Areas (PATA) to taxable territories. However, the checks posts have created harassment and made illegal cases against the units located in the tribal areas.
Chairman Committee, after due deliberations, directed the officials of Malakand Chamber of Commerce and Industry to provide appropriate justifications for the demanded exemptions and further discuss the matter with the government.
Detailed discussion was held on the restriction of LCs causing delay in development and opening of Five Star Hotel named “Movenpick Hotel, Islamabad”.
She added that the restriction in imports is just a temporary restriction and will be relaxed as the economic and currency situation improves. Since 90% of the work is already completed committee members advised the officials of State Bank and Ministry of Finance and Revenue to consider the specific import requests and work for the mitigation of the problems faced by the businessmen in this regard.
Mahira must be working overtime in Riyadh. She is pooping condoms now. please find some other whore to serve Pakistan
In Past, we have good relationship with Saudi Arabia. So, Now we should build good business relations with them.
This new year festivity will occur at Bahria Town 2 Karachi in front of the fortunate concrete production line. This is the finished detail of Bahria Town Karachi New Year Festivity where Atif Aslam and Natasha Baig. Numerous other new year celebrations in Karachi are given beneath.
The current economic team seems to be unaware of the gravity of the FX situation in Pakistan. The FX rate continues to be pegged at a low rate, thereby subsidizing imports at the expense of exports. There seems to be zero urgency on part of the govt of correct course wrt the fx rate. The economy meanwhile is on free fall. The corruption continues unabated, the political leaders preach austerity but import new prados and fortuners along with increase in their salaries. On the other hand the salaried class continue to suffer and only hope for a better future!!!