Issue 94 Budget Study Centre June 10, 2021
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ECC approves $70mln additional funds for Covid vaccines The News (June 10, 2021) ISLAMABAD: Economic vaccines for June and allowed Tarin. ECC expressed the Coordination Committee request for extension in G-20 government’s commitment to (ECC) of the cabinet on debt relief. The decisions provide $1.1 billion for Wednesday approved were taken during a meeting procurement of COVID-19 additional $70 million funds presided over by Minister for vaccine for achieving the for procuring coronavirus Finance and Revenue Shaukat vaccination target..Read More
No official poverty, unemployment figures included: Shaukat Tarin unveils Economic Survey today The News (June 10, 2021) ISLAMABAD: The Economic official poverty and fiscal year. It is going to claim Survey for 2020-21 will be unemployment figures. The that total debt and liabilities launched today (Thursday) by Economic Survey for 2020-21 (TDL) stood at Rs45 trillion by Federal Minister for Finance will throw light on the salient end-March 2021 compared to and Revenues Shaukat Tarin features of economic Rs44.6 trillion at end … Read without mentioning the latest performance in the outgoing More
Kamyab Pakistan program: ‘Govt prioritised to make weak segment self- sufficient in employment’ Arynews.tv (June 09, 2021) ISLAMABAD: Prime Minister besides providing financial Khan said that for the first Imran Khan said on assistance to them, ARY News time in Pakistan, a Wednesday that the federal reported. While chairing a comprehensive strategy has government has prioritised to high-level meeting regarding been devised to bring the poor make weak segment self- the Kamyab Pakistan program out of poverty. He said that sufficient in employment in Islamabad today, PM Imran China has ..... Read More
PTI govt set to unveil budget for FY22 tomorrow
Profit.pakistantoday.com.pk (June 09, 2021) ISLAMABAD: The incumbent June 11, amid the third wave while considering the impact government, led by Pakistan of Covid-19. The budget will of Covid-19 on the people and Tehreek-e-Insaf (PTI), is all be presented by Federal businesses of the country, set to present its third budget Minister for Finance and hence mitigating people’s for the fiscal year 2021-22 Revenue, Shaukat Tarin. “The sufferings, transforming (FY22) in the parliament on budget had been formulated agriculture sector..Read More
Govt has earmarked Rs2.1 trillion for national development in upcoming budget: Asad Umar Geo.tv (June 08, 2021) ISLAMABAD: Minister for the budget that the PTI-led investment in health, Planning, Development, and government has allocated for education, and the Special Initiatives Asad Umar different projects for the fiscal environment, adding that all on Tuesday held a press year 2021-2022. Providing regions of the country should conference in Islamabad and details, Umar said that the have equal opportunities for talked about the allocation of government has to increase development… Read More
Budget 2021-22 Impact on Pakistan Stock Market Bolnews.com (June 08, 2021) The next budget is likely to be next national budget and the the capital gains tax on the positive for Pakistan stock capital gains tax rate is likely profit of shares from 15% to market investors. According to be reduced by 3% on the 12%. Besides, the period for to sources, the government profits of shares in the stock capital gains tax is also likely has been decided to reduce market. Sources said that it to be fixed at 2 or 3 years. the capital gains tax rate in the has been decided to reduce Sources… Read More
PM-led NEC sets economic growth rate target at 4.8 pc for FY22 Arynews.tv (June 07, 2021) ISLAMABAD: The National reported on Monday. A chief ministers of all the Economic Council (NEC) led meeting of the National provinces and other members by Prime Minister Imran Khan Economic Council was held of the council. Macroeconomic set the economic growth rate under the chair of PM Imran Framework for Annual Plan target at 4.8 per cent for the Khan in Islamabad today 2021-22 has been approved. next fiscal year, ARY News which was attended by the .Read More
Pakistani startup ‘Abhi’ raises $2 million to launch salary advance app for employees The Dawn (June 07, 2021)
Abhi, a Karachi-based startup, VEF, the emerging market Global, i2i Ventures, and Zayn that provides employees fintech investor, and Capital. This is Village Global’s salary advances based on Sarmayacar, the local lead, first FinTech investment in accrued wages, has raised $2 also included a number of Pakistan; according to a press million for their seed round. international and local statement issued... Read More The funding round, led by investors including Village
Pakistan considers cut in import taxes for economic growth Business Recorder (June 06, 2021) Advisor to Prime Minister on pharmaceutical, chemical, year 2021-22, which will be Commerce and Investment, engineering and food presented on June 11. The Abdul Razak Dawood, told processing industries will be said step is likely to decrease Bloomberg that custom duties reduced to 10%. The proposal the import of finished goods, imposed on the import of raw will be floated in the and boost local productions materials required by upcoming budget for fiscal which can ... Read More
Steps to boost various sectors of economy proposed The Dawn (June 06, 2021) ISLAMABAD: - The for int•erventions under the The council’s sub-committee Eco•n•o•mic Advisory Agric•ulture Transformation on information technology Council’s (EAC) subgroup on Plan to reduce input cost of has also submitted a string of agriculture has proposed a farm produce and revive proposals to promote IT block allocation of Rs41.25 cotton production in order to exports and e-commerce in billion in budget for 2021-22 minimise reliance on imports. the country ...... Read More
Bad days are over, says PM Business Recorder (June 05, 2021) ISLAMABAD: Prime Minister economic growth, wealth with up and down cycles. Imran Khan said on Friday the creation and jobs for youth. “I Pakistan will start its journey country’s economic believe we have gone through from when it was the fourth turnaround had brought the worst time. Insha Allah, in largest economy in Asia in down the curtains on bad days the coming days, Pakistan’s 1968 after Japan, China and and heralded the time for growth will not be turbulent India,” he said… Read More
APG on Money Laundering: Pakistan achieves compliant rating in 31 out of 40 FATF recommendations The News (June 05, 2021) ISLAMABAD: The Asia Pacific has been declared compliant Recommendations rated Group, a regional body of or largely compliant on 31 C/LC. Pakistan will move from FATF, in its second Mutual recommendations in order to enhanced (expedited) to Evaluation Report (MER), combat money laundering enhanced follow-up, and will found that out of 40 and terror financing. continue to report back to the recommendations, Pakistan “Pakistan has 31 APG on progress… Read More
Six companies place lowest offers for Pakistan LNG buy tender Business Recorder (June 04, 2021) SINGAPORE: Six companies according to a document offer for two cargoes, have placed the lowest offers posted on the company according to the document. for a buy tender by Pakistan website. Vitol placed the Trafigura, ENI, BP Singapore LNG for nine liquefied natural lowest offer for three cargoes, and DXT Commodities placed gas (LNG) cargoes to be while Qatar Petroleum the lowest offers for the other delivered in July and August, Trading placed the lowest four cargoes. The...Read More
PM Imran Commends ‘Near Bankrupt CDA’ For Showing Great Performance Bolnews.com (June 04, 2021) Prime Minister Imran Khan to Twitter and wrote, “Our posted a deficit of Rs 5.8 bn in has commended the ‘nearly economic turnaround & 2017, will close this financial bankrupt’ Capital success of our construction yr with Rs73 bn surplus & Rs Development Authority policy showing results in diff 26 bn already in accounts.” (CDA) for an economic sectors. Pak is changing. A While praising the turnaround. The premier took near-bankrupt CDA, which performance of … Read More
Pakistan rolls out plans to tap global green financing avenues Reuters.com (June 03, 2021) ISLAMABAD- Pakistan on country's first green bond green Eurobonds, seeking Thursday said it has initiated floated in the international $500 million for work on a number of green market last week. A Pakistani environmentally friendly financing instruments, utility company on May 27 projects to enhance the clean buoyed by widespread global launched the country's first- energy share in the country's investor interest in the ever U.S. dollar-denominated power generation..Read More
SBP notes increased tax collection, better performance of Kharif crops in FY 2021 The News (June 03, 2021) ISLAMABAD: The State Bank performance of Kharif crops the second quarter of Pakistan Thursday released compared to last year. As per accelerating to 10.4%, the its quarterly report on the the central bank's report, highest quarterly LSM growth state of Pakistan's economy, large-scale manufacturing since Q4-FY07. The report noting an increase in tax (LSM) grew by 7.6% during said that the two industries collection and better H1-FY21, with its growth in that generated… Read More
PSX: KSE-100 remains above 48,000 points despite volatility Geo.tv (June 02, 2021) The Pakistan Stock Exchange with the benchmark KSE-100 hands by the end of the (PSX) on Wednesday had a index losing -64 points, or - session, with a total worth of "volatile" day with the market 0.13%, by the close of the nearly Rs16.7 billion. Stocks ending the day at 126 points trading session to reach of 399 companies were over 48,000. The PSX ended 48,126. More than 361.2 traded, of which 194 the day on a negative note, million shares had changed gained..Read More
‘Economy pivoting towards growth’ Tribune.com.pk (June 02, 2021) KARACHI: The International the current fiscal year ending a stage of pivoting from Monetary Fund’s (IMF) loan on June 30 and foreign stabilisation to growth,” said programme is working in the currency reserves are State Bank of Pakistan (SBP) right direction as Pakistan has hovering around four-year Governor Reza Baqir. In most revised up its economic high at $16 billion. “Right IMF programmes, there is a growth projection to 4% for now, the IMF programme is in transition that … Read More
Pakistan considers another stimulus package for reviving economy Gulfnews.com (June 01, 2021) Karachi: Pakistan's finance finance minister Shaukat The talks are initial and ministry is considering a Tarin is leading the initiative, nothing has been decided, the stimulus package to support which can be monetary, fiscal people said. No formal the economy, according to or both, said the people, proposal exists, Tarin said in people familiar with the asking not to be identified as response to questions. The matter. Newly-appointed the discussions are private. South Asian ... Read More
President for robust Pak-Qatar political, economic ties Business Recorder (June 01, 2021) ISLAMABAD: President Dr economic partnership for the family and Chairman Pak- Arif Alvi on Tuesday said mutual benefit of two Qatar Takaful Group here at Pakistan was committed to countries. Talking to a visiting the Aiwan-e-Sadr, the transform the existing Qatari delegation led by president said Pakistan and relations with Qatar into a Sheikh Ali Abudllah Al-Thani, Qatar enjoyed excellent more robust political and member of the Qatari royal relations, which … Read More
Sustainable, inclusive economic growth termed key to strong Pakistan The Dawn (May 31, 2021) ISLAMABAD: Federal Minister sustainable and inclusive which can open the door for for Finance and Revenue economic growth is the key to development and prosperity Shaukat Tarin has said that a strong and vibrant Pakistan, in the country. Addressing a
webinar titled, Budget 2020: Institute of Policy Reforms, on increase the country’s exports Balancing Stability and Sunday, the minister said the by giving....Read More Growth organised by the government’s priority was to
PM launches Pakistan’s first $500 mn Green Eurobond to finance Diamer, Mohmand dams Dailytimes.com.pk (May 31, 2021) Prime Minister Irman Khan on (Wapda) to meet the financial price of about 7.5 percent Monday formally launched needs of the construction of interest rate. The prime the country’s first Green Diamer Bhasha and Mohmand minister lauded Chairman Eurobond, called Indus bond, dams. The bond has been Wapda and his team for the by Water and Power floated for 10 years to raise landmark achievement of … Development Authority $500 million at a competitive Read More
In budget, Biden administration seeks economic support for Pakistan The Dawn (May 30, 2021) WASHINGTON: In its first Pakistani military personnel. increase in non-defence budget, for fiscal year 2022, On Friday, President Joe Biden spending, mainly in social the Biden administration also unveiled the largest US budget programmes and seeks money for providing in history — seeking $6 infrastructure projects. The economic and social support trillion for fiscal 2022. The overall defence budget to Pakistan and for training budget calls for a 16 per cent request of $715…Read More
Govt focusing on 'inclusive and sustainable' economic growth: Tarin The Dawn (May 30, 2021) Finance Minister Shaukat devising long-term, medium- government lacked resources Tarin stressed on Sunday the term and short-term plans to invest in the growth of all need to focus on the country's and roadmaps for growth in sectors, it had decided to economic growth, saying the 12 major sectors. Tarin, who focus on 12 major areas, Economic Advisory Council was addressing a pre-budget including agriculture, housing (EAC) had been tasked with webinar, said since the and power, which..Read More
SBP keeps interest rate unchanged at 7pc Profit.pakistantoday.com (May 29, 2021) In line with market for the next two months. The economy has continued to expectations, the State Bank SBP held its policy rate recover and business of Pakistan (SBP) on Friday unchanged, citing the need to sentiment has further maintained the status quo and support financial stability and improved since the last policy left the benchmark interest economic recovery from the announcement in March. rate unchanged at 7 per cent Covid-19 pandemic. The “Since its ... Read More
Bulls toss index above 47,000 after four years The Dawn (May 29, 2021) KARACHI: The spectacular about four years. The index tossed the index up by 336 rally at the stock market had last stepped over that points, or 0.70 per cent, to concluded the week with the level on June 15, 2017. After a close at 47,126.29 taking the benchmark KSE-100 index day’s breather, the bulls entire week’s accumulated storming past the 47,000 level returned to the market on gains to 1,211 points, or — a feat accomplished after Friday with a vengeance and 2.60pc... Read More
Pakistan's future lies in industrialisation, says PM Imran The Dawn (May 28, 2021) Prime Minister Imran Khan on sustainable growth. creation is impossible with Friday said Pakistan's future Addressing the commercial industrialisation. "Also this lay in industrialisation, launch of Rashakai Prioritized economic zone comes under adding that his government Special Economic Zone in the China-Pakistan Economic was now focusing on Nowshera, he said wealth …….. Read More
Pakistan's GDP expected to hit 4.8% next fiscal year: Asad Umar The News (May 28, 2021) The country's gross domestic and Development Asad Umar Islamabad, said in the nine product (GDP) growth is said Friday. Umar, going over months of the current fiscal expected to move up to 4.8% the government's progress in year, IT exports showed in the financial year 2021-22, the current fiscal year during growth of 46%. Umar said the Federal Minister for Planning a press conference in country had … Read More
Budget Study Centre Centre for Peace and Development Initiatives (CPDI), Pakistan Tel: +92 (0) 51-8312794, 8312795 URL: www.cpdi-pakistan.org