Input Tax Adjustment Disallowed On 778 Goods

Country Director ADB, Mr. Yong Ye, Secretary Finance and senior officers participated in the meeting. The Finance Minister expressed resolve of the present government to uplift the living standard of the underprivileged people in the country especially focusing on socio economic development of the people of Baluchistan. NPMC was briefed on the availability of essential goods at subsided rates at the Sasta and Sahulat bazaar across the country. Of Punjab, KP, Balochistan and Islamabad administration in providing essential items at discounted rates at Sasta and Sahulat bazaars. He also expressed satisfaction on the contribution of Sindh government for providing essential items at discounted rates in Sahulat bazaars. NPMC was briefed on the rising prices of vegetable ghee in the country and informed that YOY prices of palm and soybean oil increased by 49.2% and 72.4% respectively in the global market.

The financing may only be availed by companies/customers who are not existing borrowers of Meezan Bank and may avail short-term working capital facilities or long term financing for purchasing commercial equipment, machinery, vehicles or property. The inauguration ceremony was graced by eminent people from banking, housing finance and media industry. Salaam Takaful Limited was incorporated in June, 2006 with its registered head-office in Karachi. With an authorized capital of Rs. 700 million, issued Capital of Rs. 500 million all fully paid-up as at 30 September 2018, the Company is sponsored by reputable financial institutions both local and foreign. House Building Finance Company Limited is the prime housing finance institution of the country, providing affordable housing solutions to primarily low and low-middle income groups of population by encouraging new construction in affordable housing sector. HBFC is striving to be a socially responsible and commercially sustainable housing finance institution.

Oil, Ghee And Steel Sectors: 

There are no preset number of papers that will be accepted for publication in the JCBIF Journal. If no submitted work is judged to be worthy of publication, the Journal will not be published it. Ministry of Water Resources tabled a summary on compensation package for the affected Chinese nationals of Dasu Hydropower Project incident. The ECC after deliberation and considering the depth of our relationship with China approved the proposal of payment of US dollar 11.6 million as a goodwill gesture on government level. On the prices of Pulses, NPMC was informed that prices of Moog pulse have shown stability while prices of Gram, Mash and Masoor pulses have registered increase due to less production of these pulses in the world, variations in the exchange rate and increased freight charges.

Investment With Impact

NPMC was also apprised on the variations in the prices of Pulses and it was informed that except the prices of Moong Pulse, there was increase in the prices of other Pulses and it was mainly due to exchange rate variations and increase in freight charges. Finance Minister Mr. Shaukat Tarin supported the proposals for dairy development including investment and improvement in livestock and agriculture sector in Pakistan and assured them of full support of the present government. The meeting also discussed the prices of daily commodities available at the Utility Stores and directed USC to inform the masses on any variations in the prices and availability of commodities well in time. The meeting reviewed the progress on the ongoing World Bank’s projects and programmes in Pakistan. The meeting also focused on Resilient Institutions Strengthening Program (RISE-II) and discussed some prior actions to be met for the timely completion of the programme.

The participants of the meeting assured the Finance Minister of their full cooperation and participation in making the program successful. Finance Minister Mr. Shaukat Tarin appreciated all the stakeholders for their contributions in the success of the Kamyab Pakistan Programme and said that Kamyab Pakistan Program is a milestone project, having exponential potential to transform the lives of the lower strata of the society. He further stressed the stakeholders to gear up the disbursement of interest free loans to help the people in achieving self-sufficiency. Over the last decade and more, significant effort has gone into harmonizing definitions and methodologies used to measure and track financial inclusion. Befiler recently won a grant for a digital experiment from Karandaaz Pakistan, a not-for-profit funded by the UK’s Foreign, Commonwealth and Development Office and the Bill & Melinda Gates Foundation . Befiler participated in the recent round of Karandaaz’s Digital Experiment Program, and won the grant through a competitive application process.

NPMC was informed that prices of Garlic, Tomatoes, Eggs, LPG Cylinder, Gur, Sugar, Pulse Gram, Pulse Masoor have shown decline in the prices during the last week. It was informed that prices of tomatoes have reached to the prices as four years earlier. With Islamic finance progressing rapidly over the last decade, questions have started arising on its role in developing a more sustainable, and inclusive world through the religio-based economic system.

JCBIF Journal of Contemporary Business and Islamic finance is licensed under aCreative Commons Attribution 4.0 International License. To aurhors,JCBIF does not charge article processing fee.Interested in submitting to this journal? For more details,We recommend that you review the About the Journal page for the journal's section policies, as well as the Author Guidelines. Authors need to register with the journal prior to submitting or, if already registered, can simply log in and begin the five-step process. Ministry of Industries and Production tabled a summary for the import of Urea from China by TCP. The ECC after deliberation allowed import of 50,000 MT of Urea on GoG basis with People’s Republic of China on immediate basis subject to clearance from the PSQCA.

The Government is bearing the revenue loss of around Rs.30 billion on account of budgeted to existing PL and ST rates and Rs. 260 billion annually due to reduced ST rate. Finance Minister Mr. Shaukat Tarin appreciated the efforts of the Government of the Punjab, KP, Baluchistan and Islamabad administration in providing key items at discounted prices through arranging Sastaa Bazaars. He further directed to establish such bazaars in more cities to provide maximum relief to the people.

They will learn the concepts and processes needed to protect, validate and attest to the integrity and reliability of financial information. NPMC was informed that prices of 22 items remained stable whereas 22 items registered slight increase in prices which contributed increase in the SPI by 0.2%. It was informed that prices of perishable food items and Non-perishable food items have shown significant decline in their prices when reviewed Y-o-Y and M-o-M basis. He further highlighted that CPI inflation Year-on-Year basis is 12.3% in December 2021 as compared to 8.0% in December 2020.

Secretary Ministry of I&P briefed the meeting on the process for building strategic reserves of sugar in the country to maintain stability in prices. The items which contributed in decline included Petrol by -0.53%, Eggs by -0.11%, Tomatoes by -0.51% and others by 0.01%. Prices of 19 items slightly increased that led to increase in SPI by 1.20% which included Chicken by 0.34%, Fresh Milk by 0.25%, LPG by 0.23% and others by 0.38%. Mr. Shixin Chen appreciated and supported the efforts taken by the present government in social and economic sectors for improvement in the economy of Pakistan.