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Efforts are being made to complete the remaining prior actions under the capital markets development programme to disburse it within time, he added. Finance Minister Mr. Shaukat Tarin ensured that government is fully supporting as well as undertaking all mandatory measures for boosting the IT sector in the country and providing incentives to boost IT sector exports. He further extended his full support to resolve the impending issues for the promotion of IT sector.

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The meeting also discussed Fertilizer situation in the country and was informed that there is no shortage of Fertilizers in the country. The Meeting directed Ministry of I&P to formulate strategy to rationalize the prices of Fertilizers in the light of decision to provide subsidized supply of gas to the fertilizer manufacturers and for providing adequate relief to the growers. The Secretary Ministry of NFS&R informed on the stock position of Wheat and further apprised on the future requirements and the strategy for sustainable availability of Wheat in the country. The Chair expressed concerns on the low daily release of Wheat by the Baluchistan Government and directed the provincial authorities to bring stability in the prices of Wheat flour by increasing daily release of Wheat to the Flour Mills. The items which contributed in decline included Electricity by 0.91%, Eggs by 0.08%, Red Chillies by 0.03% and others by 0.06%. While prices of 28 items slightly increased that led to increase in SPI by 1.3% which included Petrol by 0.65%, Chicken by 0.19%, Long cloth by 0.18% and others by 0.28%.

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The meeting also discussed the inclusion of prospective Pakistani migrant workers into the programme and directed the stakeholders to frame modalities for the disbursement of interest free loans to Pakistani overseas workers. Deputy Managing Director, Pak-Libya Holding Company and senior officers were also present during the meeting. In his concluding remarks, the Finance Minister underscored the efforts being made for keeping the prices of essential items in check and measures to ensure smooth supply of essential commodities throughout the country. NPMC was informed that Chillies Powder, Eggs, Electricity Charges, Onions, Potatoes, Gur, Sugar, Wheat Flour, LPG Cylinder, Pulse Moog, Pulse Mash have shown decline in the prices during the last week.

While prices of 22 items increased that contributed increase in SPI by 1.52% which included Tomatoes by 0.97%, Chicken by 0.40%, Garlic by 0.02% and others by 0.13%. NPMC was informed that Potatoes, Onions, Eggs, Sugar, Moog Pulse, Mash Pulse have shown decline in the prices during the last week. The items shown decline in prices of Tomatoes by 0.24%, Potatoes by 0.04%, Onions by 0.04% and other by 0.11%. While prices of 16 items increased that contributed increase in SPI by 0.35% which included Garlic by 0.04%, Chicken by 0.20%, Banana by 0.03% and others by 0.08%. Economic Adviser Finance Division briefed the NPMC about weekly SPI which witnessed decrease by 0.08% as compared to increase of 1.35% in the previous week, 33 food items contributed decrease of 0.07%, whereas 18 non-food items contributed decrease of 0.01% to the SPI. Both sides highlighted deep-rooted bilateral ties and cordial relationship between the two countries.

Mou Signed With China On Economic, Trade Cooperation Wg

Federal Minister on Finance and Revenue Mr. Shaukat Tarin held a meeting with All Pakistan Bedsheets & Upholstery Manufacturers Associations led by its chairman Mr. Arif Ehsan Malik, at Finance Division, today. The NPMC also discussed the stock position of POL in the country and expressed serious concerns on the low stocks of HSD and directed the Petroleum Division to take cognizance of the issue and ensure smooth availability of POL in the country. The Chair directed Ministry of NFS&R to make strategy for increasing the exports of Potatoes and further directed for production forecasting unit for major and minor crops for timely decision making. Further, the chair directed the USC to seek guidance of Ministry of Law and Justice on continuation of subsidy on these items for initial 23 days of the February. The Financial Action Task Force reviewed Pakistan’s progress on both FATF Action Plans in its Plenary meeting held on 4th March 2022.

Dissolve Nab And Hold Its Employees Accountable, Abbasi Tells New Govt

The meeting was apprised that prices of Eggs have witnessed decline for the last five weeks consecutively. Mr. Tariq H. Niazi appreciated and supported the efforts taken by the present government for improvement in social and economic sectors. He re-affirmed Bank’s commitment to continue support for the implementation of structural reforms in future. The Finance Minister further informed that the Government has taken steps to improve the revenue collection through broadening of tax base, capturing retail sales, single window operations as well as track and trace system.

Mobilink Microfinance Bank Limited is Pakistan's largest digital bank with over 20 million registered and 8 million active digital wallets. Backed by VEON Co., MMBL started operations in April 2012 and launched branch-less banking operations under the brand name JAZZCASH in partnership with Pakistan's largest telecom operator JAZZ in Nov 2012. Despite being a young bank, Mobilink bank has emerged as one of the front runners in the sector and achieved financial break-even within four years of commencing operations in 2016, one of the fastest in the industry. MMBL game plan aims at taking banking from confines of limited number of brick and mortar structures to cell phones and thus make a significant contribution in banking the unbanked through digital channels. The Bank so far has financed over 500,000 individual micro and small businesses since inception of the Bank in 2012 and is the proud recipient of “Bank of the Unbanked Award” in 2018 and 2019. Economic Adviser Finance Division apprised the NPMC on weekly SPI which increased slightly by 0.08% in the week as compared to previous week when it decreased by 0.50%.

Economic Adviser Finance Division briefed the NPMC about weekly SPI which witnessed increase of 0.04% as compared to increase in previous week by 0.51%. 33 food items contributed increase in the SPI by 0.32%, whereas 18 non-food items contributed decrease of 0.28% to the SPI. Economic Adviser Finance Division briefed the NPMC about weekly SPI which witnessed an increase of 1.10% as compared to decrease in previous week by 1.37%. 33 food items contributed increase in the SPI by 1.07%, whereas 18 non-food items contributed increase of 0.03% to the SPI. NPMC was updated on the prices of wheat flour which marked a continuous decline in the prices in the country for the last five weeks.