Day: June 3, 2024

Inflation rate in the country continues to fall while rupee witnesses stability against dollar for another consecutive month. According to the recent economic figures, government's prudent economic policies have decreased the inflation rate to 11.8 percent during the month of May that is 3.2 percent lower than the previous month. It is the lowest inflation reading since November 2021. According to the recent Pakistan Consumer Confidence Index Survey, public confidence in country's economic strength has increased manifold. It has outlined that the number of people have increased from 12 percent to 18 percent who believe that country is heading in the right direction. The number of Pakistanis have quadrupled who described country's current state of economy as strong. Proportion of Pakistanis being comfortable making daily household purchase has increased 2.5 times while people expressing their confidence in their ability to save for the future increased from 11 percent to 15 percent. It is pertinent to m ention that government's instant measures have resulted in broadening tax net, increased foreign investment and decrease in fuel prices. During last week, OGRA reduced petrol prices by 4.74 rupees per litre and LPG by 3.87 rupees per kilogram. In the month of May, FBR surpassed its revenue target with 760 billion rupees collection. Over twenty one thousand retailers were registered under FBR's Tajir Dost Scheme. In foreign investment, Saudi Aramco acquired 40 percent stakes in Gas and Oil Pakistan. Source: Radio Pakistan

Minister for Finance Muhammad Aurangzeb has emphasized the significant potential of e-governance in Pakistan. Talking to Deputy Director, Focus Country Implementation of Bill and Melinda Gates Foundation Jason Lamb in Islamabad, he said the digitization of the tax system is a pivotal step towards modernizing tax collection, which will enhance transparency and revenue growth. Muhammad Aurangzeb also mentioned the necessary improvements required in existing data sources to effectively utilize them for tax purposes. Source: Radio Pakistan

Minister for Finance Muhammad Aurangzeb has reaffirmed government's commitment to improve tax collection through Federal Board of Revenue's (FBR) ongoing efforts in digitization. He was talking to Regional Head of Technology and Tax Mc Kinsey and Co Tom Isherwood in Islamabad today. The Finance Minister said the data from Pakistan Revenue Automation Limited and REMIT can be utilized in digitizing FBR's tax system. Muhammad Aurangzeb emphasized the need for investment in technology and fostering a cultural shift towards digital governance. Source: Radio Pakistan

Punjab Government has approved Himat Card project for special persons. Approval was accorded at a meeting with Chief Minister Maryam Nawaz in the chair in Lahore today. Under the program the provincial government will provide monthly stipends of 7,500 rupees to thirty thousand special persons for three years in first phase . The meeting was also briefed on the project's second phase, where special persons will receive 14 types of assistive devices such as wheelchairs, hearing aids, tricycles, Braille materials, and other essential devices. Source: Radio Pakistan

Minister for Information and Broadcasting Attaullah Tarar says a delegation of over one hundred top business people from Pakistan will also accompany the Prime Minister to finalize business to business agreements with Chinese companies. Addressing a news conference in Lahore today, he said the business delegation will leave for China from Pakistan tonight and will itself bear all its expenditure. The Minister said the visit will be a big step forward towards reviving Pakistan's economy and enhance investors' confidence. He said Pakistani businessmen will hold meetings with Chinese entrepreneurs to promote business to business cooperation between the two countries in all sectors, including the Information Technology, Steel, agriculture, and industry. He said the interactions between the business communities of the two countries will promote partnership to further strengthen economy. Highlighting government's efforts to bring down inflation, he said prices have come at the lowest level in last 29 months. H e said petrol and diesel prices were slashed, which will result in low transport fares. Source: Radio Pakistan

Chairman Pakistan Ulema Council Hafiz Muhammad Tahir Mehmood Ashrafi has emphasized the urgent need for fostering dialogue across various societal factions. Speaking at a national seminar on 'Countering Violent Extremism' in Islamabad, he highlighted the ongoing challenges of violent extremism in Pakistan. Hafiz Tahir Ashrafi said dialogue would reduce misunderstandings and create an environment of mutual respect among different groups, promoting a more harmonious and resilient community. Referring to misuse of religious decrees, Ashrafi called for the establishment of a mechanism for issuing Fatwas on matters of public importance. Source: Radio Pakistan