Connect with us

Pakistan

Iranian President Raisi to visit Lahore tomorrow

The latest reports say that the Punjab which has announced local holiday in connection with the visit is all set for high-level meetings.

Published by Hussnain Bhutta

Published

on

Lahore: Iranian President Dr. Seyyed Ebrahim Raisi, currently on a three-day visit to Pakistan, is scheduled to arrive in Lahore today. During his visit, he will engage with Punjab's top leadership, including Governor Baligh-ur-Rehman and Chief Minister Maryam Nawaz, as well as interact with business representatives and traders.

In anticipation of President Raisi's delegation, the Punjab government has declared a local holiday for Lahore district and its subordinate offices. However, the holiday does not extend to the Punjab Civil Secretariat, its attached departments, or regional offices.

President Raisi, who arrived in Islamabad on Monday, has already conducted significant meetings with President Asif Ali Zardari, Prime Minister Shehbaz Sharif, Foreign Minister Ishaq Dar, and other dignitaries. His Lahore itinerary will also include engagements with provincial cabinet ministers, senior officials, and department heads, all under strict security measures.

Following his visit to Lahore, President Raisi will proceed to Karachi, where he will pay homage to Quaid-e-Azam Muhammad Ali Jinnah at his mausoleum.

 

Continue Reading

Business

Academicians appreciate Finance Minister going ahead with tobacco tax reforms

The researchers and the scholars say that there is a great need to implement the recommendations of the IMF regarding tax reforms.

Published by Hussnain Bhutta

Published

on

Islamabad:  It is encouraging that Finance Minister Muhammad Aurangzeb gave out hope to the masses that the country could get $3 billion package from International Monitory Fund (IMF) considered to be vital for sustenance of falling economy, lauded the academicians on Monday.

Dr. Aftab Madni, dean of the Indus University, however, underlined the need to implement the recommendations of the IMF regarding tax reforms in a true spirit.

 “Pick and choose wouldn’t help the reform process” he said.

He stressed that the IMF has explicitly recommended that there has to be uniformed tax on cigarettes regardless of their national or multinational brand. This alone will generate revenue in billions.

He said cigarette is a non-essential item and the government wouldn’t face any public backlash if it moves ahead as per IMF recommendations.

He said that about 9 percent of Pakistanis are smokers and the volume of second-hand smoking still has to be explored. The cigarettes need to be made expensive in any case. 

It causes disease and deaths that have to be accounted for.

He appreciated Dr. Hassan Shehzad from International Islamic University Islamabad, for being the only researcher whose report has been referred to by the IMF in its recommendations for tax reforms.

He said that the report has clearly established a link between consumption and affordability. 

Dr Shehzad quoted the minister as saying, "The country’s current $3 billion arrangement with the fund runs out in late April and the government is seeking a long-term and bigger loan to help bring permanence to macroeconomic stability as well as an umbrella under which the country can execute much-needed structural reforms."

He added that reports have mentioned that cigarette industry is responsible for a loss of Rs567 billion to the national exchequer in less than a decade.

He said that the finance minister has a profound background in banking and it is normal for a banker to understand the volume of losses a product injurious to human health can cause.

Imposing uniformed tax on tobacco products is too little and too late, he said, but it has to be done. Dr Shehzad is a leading researcher in the country with an impact on policy making.

 

Continue Reading

Business

Pakistan on track to secure new loan from IMF: Finance Minister

Muhammad Aurangzeb says the IMF has been very receptive in terms of agreeing to consider a larger and longer programme.

Published by Hussnain Bhutta

Published

on

Washington: Finance Minister Muhammad Aurangzeb said on Monday that Pakistan is on track to secure a new loan from IMF.

In an interview with English Language newspaper The National, he said the IMF has been very receptive in terms of agreeing to consider a larger and longer programme.

The Finance Minister said Pakistan would need at least three years of support to carry out a reform agenda across several sectors including taxation and energy.

Muhammad Aurangzeb said macroeconomic factors are shifting in Pakistan's favour as it works to boost its lagging economy.

The Finance Minister said Pakistan's currency has stabilized and the inflation is on track to drop to single-digit levels by the end of next year.  

 

 

 

 

Continue Reading

Trending

Take a poll