ISLAMABAD – The federal government plans to launch Ehsaas Petrol Card for motorcyclists to enable them to buy petrol at a subsidised rate.
According to an official announcement made here on Thursday, Federal Minister for Finance and Revenue Shaukat Tarin chaired the meeting of the Macro-Economic Advisory Group (MEAG) at the Finance Division.
Three points came under discussion, including ideas to support middle-class against high inflation.
The meeting considered proposals like subsidised fuel, tax reliefs, rise in income/minimum wages, internships (for educated unemployed), economic reforms especially in the energy sector, and finally build further on the growth momentum with 5.6% GDP growth, 15% rise in exports, over 10% increase in remittances and record tax collection by building up further business confidence and remove bureaucratic hurdles, and ensure maintenance of consistent policies.
According to the media reports, the government also intends to raise the pay of public sector employees in the upcoming fiscal year 2022-23 budget.
However, there is no consideration for monetising bureaucratic perks and privileges, despite a report from the Pakistan Institute of Development Economics (PIDE) revealing that top bureaucrats in Pakistan are more paid and privileged than United Nations employees.
In a recent statement, Prime Minister Imran Khan hinted at granting market-based salaries, but only to raise the question as to why luxury houses, cars, gasoline, and number of other allowances — that count in perks and privileges — were being abolished and made part of take-home salary.
The meeting hashed out the core macroeconomic indicators of Pakistan’s economy. MEAG members expressed satisfaction over the progress of the economy.
As sustainable macro-economic stabilisation is imperative, therefore consideration to challenges and respective measures for dealing with rising global prices were discussed.
Moreover, various effective measures for providing relief to the public especially the urban middle class came under discussion during the meeting. Pragmatic solutions were also analysed for dealing with these issues along with maintaining the growth momentum in the economy.
Meanwhile, Tarin also presided over the meeting of the Steering Committee of Kamyab Pakistan Programme (KPP).
Chairman NPHDA, President Bank of Punjab, Chairman SECP, Founder of Akhuwat Foundation, Dr Amjad Saqib, and senior officers attended the meeting.
A detailed presentation was given to the Finance Minister on the progress of Kamyab Pakistan Programme.
Pakistani rupee witnessed upward trajectort against US dollar and other currencies amid positive economic cues.
On Wednesday, the US dollar moved down and was being quoted at 283.7 for buying and 286.75 for selling.
Euro remained stable at 309 for buying and 312 for selling. British Pound rate increased to 361 for buying, and 364 for selling.
UAE Dirham AED dropped to 77.6 whereas the Saudi Riyal rate stands at 76.
Source: Forex Association of Pakistan. (last update 09:00 AM)
|UK Pound Sterling||GBP||361||364|
|Hong Kong Dollar||HKD||36.49||36.84|
|New Zealand Dollar||NZD||175.89||177.89|
KARACHI – Gold prices in the local market continue to decline in line with the international market.
On Wednesday, the price of a single tola of 24-karat gold stands at Rs219,400 and 10 grams of 24k gold costs Rs188,100.
Each tola for 24 karat is Rs216,700, 22 Karat is Rs198,640, and 21 karat rate per tola is Rs189,613 and 18k gold rate is Rs162,525.00 for single tola.
In the global market, the precious metal moved down, and hovers around $2023 per ounce after drop of around $10.
|Lahore||PKR 219,400||PKR 2,625|
|Karachi||PKR 219,400||PKR 2,625|
|Islamabad||PKR 219,400||PKR 2,625|
|Peshawar||PKR 219,400||PKR 2,625|
|Quetta||PKR 219,400||PKR 2,625|
|Sialkot||PKR 219,400||PKR 2,625|
|Attock||PKR 219,400||PKR 2,625|
|Gujranwala||PKR 219,400||PKR 2,625|
|Jehlum||PKR 219,400||PKR 2,625|
|Multan||PKR 219,400||PKR 2,625|
|Bahawalpur||PKR 219,400||PKR 2,625|
|Gujrat||PKR 219,400||PKR 2,625|
|Nawabshah||PKR 219,400||PKR 2,625|
|Chakwal||PKR 219,400||PKR 2,625|
|Hyderabad||PKR 219,400||PKR 2,625|
|Nowshehra||PKR 219,400||PKR 2,625|
|Sargodha||PKR 219,400||PKR 2,625|
|Faisalabad||PKR 219,400||PKR 2,625|
|Mirpur||PKR 219,400||PKR 2,625|