Suitable increase in salaries to be proposed in upcoming budget: finance ministry

ISLAMABAD: The government to propose suitable increase in salaries of government employees in the upcoming budget 2020/2021, said a statement issued by the Finance Division on Thursday. In response to the strike call by the Secretariat employees for raising their salaries the ministry of finance has held meetings with the federal government employees to assure […]

by Mrs. Anjum Shahnawaz

Sep 18

Finance

Finance ministry issues 10-year treasury single account policy

ISLAMABAD: The ministry of finance on Wednesday issued 10-year Cash Management & Treasury Single Account Policy with aim to bring every penny into government’s nominated agency. The policy has been issued with the objective of timely availability of cash to meet obligations, economizing on cash within the government so as to save interest costs and […]

by Mrs. Anjum Shahnawaz

Govt plans issuance of Eurobond, Sukuk in international capital markets; intends to hire consortia

Sep 13

Finance

Govt plans issuance of Eurobond, Sukuk in international capital markets; intends to hire consortia

ISLAMABAD: The government has planned to set up a Medium Term Note (MTN) Program for issuance of US Dollar denominated Eurobonds and Sukuk in the international capital markets. The program shall initially cover a period of one year, said ministry of finance on Friday. For the purpose, finance division plans to engaged two consortia, each […]

by Mrs. Anjum Shahnawaz

Fiscal deficit balloons to record 8.9 percent in 2018/2019

Aug 27

Finance

Fiscal deficit balloons to record 8.9 percent in 2018/2019

KARACHI: The fiscal deficit of the country has increased to record level of 8.9 percent in fiscal year 2018/2019, according to statistics released by the federal finance ministry on Tuesday. Analysts Topline Securities said that the government had reported fourth quarter of fiscal year 2018/2019 fiscal deficit of 3.9 percent of GDP, taking full year […]

by Mrs. Anjum Shahnawaz

Budget deficit swells to 5 percent in nine months, higher than fiscal year target

May 21

Finance

Budget deficit swells to 5 percent in nine months, higher than fiscal year target

ISLAMABAD: The country’s budget deficit soared to 5 percent in the first nine months of current fiscal year, which is already higher than the full year target of 4.9 percent. According to statistics issued by the ministry of finance on Tuesday, the budget deficit for July –April 2018/2019 increased to five percent, which was 4.3 […]

by Faisal Shahnawaz

Meeting reviews progress on FATF Action Plan

May 6

Finance

Meeting reviews progress on FATF Action Plan

ISLAMABAD: Dr. Abdul Hafeez Shaikh, Adviser to Prime Minister on Finance, Revenue and Economic Affairs on Monday chaired a meeting to review progress on Financial Action Task Force (FATF) Action Plan. The Secretary Finance updated all the key stakeholders on the critical nature of the meeting, serious challenges at hand and top priority that is […]

by Faisal Shahnawaz

Apr 26

Finance

IMF team to visit Pakistan April 29

ISLAMABAD: A team of International Monetary Fund (IMF) will visit Pakistan starting April 29, 2019 to continue technical discussions for IMF supported program, spokesman of ministry of finance said on Friday. Dr. Khaqan Najeeb, Adviser and Spokesman, Ministry of Finance said that extensive preparation for data and macro economic framework finalization and structural reforms were […]

by Faisal Shahnawaz