Latest news with #Rs3.6
Hans India
2 days ago
- Business
- Hans India
Another RBI rate cut to spark affordable RE push
New Delhi: As the Reserve Bank of India (RBI) prepares for its monetary policy committee (MPC) meeting this week, industry experts said on Tuesday that the transmission of rate cuts into lower borrowing costs is vital to sustain residential real estate demand — particularly in the affordable housing segment, which is sensitive to interest rate movements. Given the prevailing benign inflation environment and the GDP growth of 6.5 per cent recorded in FY2025, the Reserve Bank is likely to proceed with a 25-bps repo rate cut this Friday (June 6). 'The case for a rate cut is further supported by the revival in the liquidity conditions to a surplus of Rs3.6 lakh crore, which enhances the effectiveness of monetary transmission. Additionally, the softening of G-sec yields reflects bond market confidence in the RBI's inflation and liquidity management and strengthens the rationale for easing rates,' said Shishir Baijal, Chairman and Managing Director, Knight Frank India.
Express Tribune
09-05-2025
- Business
- Express Tribune
Aurangzeb addresses London moot
Listen to article Minister for Finance and Revenue, Senator Muhammad Aurangzeb, delivered a keynote address at the Jefferies' 'Pakistan Access Day' interactive conference co-hosted by KTrade Securities in London on Thursday. The event brought together a distinguished audience comprising top global institutional investors, senior executives from leading international banks, investment firms, and professionals from both the public and private sectors, said a press release received here today. The Advisor to the Prime Minister on Privatisation, Muhammad Ali, also attended and addressed the forum, which served as a vital platform to showcase Pakistan's economic progress and investment outlook to the international business community. Senator Aurangzeb underscored the government's firm commitment to macroeconomic reform and structural transformation and the government's resolve to stay the course to bring permanence to this macroeconomic stability. He stated that the country had made substantial progress toward achieving macroeconomic stability, with key economic indicators now reflecting improved resilience and discipline. "We have successfully navigated a period of significant external and domestic challenges, and Pakistan today stands on the foundation of restored macroeconomic stability," the Minister noted. "Through bold and far-reaching reforms, we have reinstated fiscal discipline, strengthened our external position, and rebuilt investor confidence." He highlighted that Pakistan posted a primary budget surplus of Rs3.6 trillion during the first half of FY2025, while inflation has seen a remarkable declinereaching just 0.3% in April 2025, the lowest level recorded in over a decade. These gains, he added, have been acknowledged internationally with Fitch upgrading Pakistan's sovereign credit rating from CCC+ to B-, reflecting renewed market confidence. Looking ahead, Senator Aurangzeb outlined Pakistan's ambitious economic targets, including 6% annual GDP growth by persisting with structural reforms in taxation, energy, SOEs, privatisation, pension and public finance, an expansion of exports to $ 50 billion, inflation moderation to 6%, and the development of a $5 billion ICT freelancing industry. Additionally, Pakistan aims to cut greenhouse gas emissions by 50%, raise the share of renewable energy to 10%, and reduce income poverty by 13%, he added. He emphasised that these goals are embedded within the Government's comprehensive "5Es Framework"focusing on Exports, E-Pakistan (IT), Environment & Climate Change, Energy & Infrastructure, and Equity, Ethics, and Empowerment. The Finance Minister reaffirmed the Government's policy of limiting its role to providing a robust and consistent policy framework, while allowing the private sector to take the lead in driving growth. He pointed to increasing private sector representation in top policy forums as a testament to this approach. Further, Senator Aurangzeb detailed the ongoing efforts to improve the investment climate in Pakistan. He highlighted the Investment Policy 2023, which offers clear protections and incentives for foreign investors, and the Special Investment Facilitation Council (SIFC), which serves as a streamlined "one-window" platform for expediting investment processes. "We are committed to making Pakistan's investment ecosystem more transparent, efficient, and investor-friendly," he said. "Over 160 regulatory reforms have already been implemented under the Pakistan Regulatory Modernisation Initiative (PRMI), and we are launching the Pakistan Business Portal to simplify business registration and approvals through digital integration." Additionally, he noted that Pakistan's reformed visa regime now allows for 24-hour e-visas for citizens of 126 countriesfurther facilitating international business engagement. Addressing the gathering, Advisor to the Prime Minister on Privatisation, Muhammad Ali, presented a detailed overview of the privatisation roadmap for state-owned entities (SOEs). He emphasised the transparency and competitiveness of the ongoing processes and highlighted the significant investment opportunities with attractive returns available across various sectors of the Pakistani economy. Ali reaffirmed that the Government's privatisation drive is focused on ensuring efficient service delivery and unlocking value for the public while creating a favourable environment for private capital. The conference concluded with renewed optimism and expressions of interest from international stakeholders, affirming Pakistan's strategic relevance and potential in the global economic landscape.
Business Recorder
03-05-2025
- Business
- Business Recorder
Panel concerned over meagre FPSDP allocation for women
ISLAMABAD: The Special Committee on Gender Mainstreaming has unanimously expressed its grave concern on the alarming 1.3 percentage of financial allocation under Federal Public Sector Development Programme relating to women during 2020-25. The committee stressed for enhancement of the allocation which was crucial for gender mainstreaming. It also underlined the need for ensuring that 10 percent of the quota reserved for women is met. The committee met under the chairpersonship of Dr Nafeesa Shah, MNA in the Parliament House to discuss the issues underlining the women participation in national development apart from financial inclusion, access to justice, health and education. It was apprised by the Planning and Development Ministry that out of PSDP amount of Rs3.6 trillion, only Rs48 billion were allocated for gender based projects across 2020-25. The Chief Gender Unit of the ministry further informed that the key findings of the gender analysis of yesteryears transpired that annual gender based allocations were constant between 1.3 to 1.5 percent peaking at 2.5 percent in 2023-24 and dropping to 0.7 percent in 2024-25. She said that the ministry had made strides in promoting gender equality and mainstreaming gender consideration across its operations and development initiatives; however, more needed to be done. She informed that a comprehensive Gender Action Plan had been developed in collaboration with UN Women, Gender Checklist had been developed for PSDP projects besides conducting a Gender review of the PSDP 2020-2025. She assured that a comprehensive report on Gender review would be shared with the Committee. The committee directed Planning Ministry to present a way forward to close the gender gap. The committee also expressed its concern on the inadequate budget for primary education and healthcare. The committee also expressed its concern on the failure to address gender violence. The committee strongly urged that projects focused on women empowerment may be included for women financial inclusion, women health and legal empowerment. While taking up the agenda regarding effective implementation of the women's employment quota in federal government, the chair opined that the number of women in federal jobs was not encouraging. She said that the present female representation in federal jobs was 5.26 percent of the total workforce which was a significant gap which needed to be looked into seriously. The Members of the Committee also expressed their reservation on special initiatives taken by the Establishment Division for women and termed them a special dispensation for all. They called for giving special preference to women to meet the meet the shortfall. The special secretary Establishment Division apprised that there was a significant gap due to underlined issues; however, there was an upward trajectory when compared with previous years. He said that special initiatives had been taken up for instance conducting special CSS exams for filling in vacant seats reserved for women, minorities and underserved areas, giving the 4th chance, age exemption for up to 35 years. He further apprised that province had been asked to prioritise the issue and share their strategy to ensure meeting of 10 percent quota reserved for women. The committee after briefing by SMEDA was of the view that for making financial inclusion of women meaningful, SMEDA should adopt a whole of Pakistan approach instead of piecemeal or selective interventions. It also stressed for a more coordinated approach between State Bank of Pakistan, SMEDA, Chambers of Commerce and Industry and the aspiring women entrepreneurs for ensuring access to financial empowerment. The committee also directed for sharing national draft of the Women Entrepreneurship Policy with the committee for its input. The committee, appreciating the initiatives by Small and Medium Enterprise Development Authority (SMEDA) for financial inclusion of women, decided to have a follow-up meeting on the same issue. Copyright Business Recorder, 2025
Business Recorder
01-05-2025
- Business
- Business Recorder
Major corruption cases: NAB Lahore to distribute Rs512m to victims
LAHORE: National Accountability Bureau (NAB) Lahore has commenced the distribution of Rs512 million among hundreds of victims following successful recoveries in three major corruption cases. The affectees of the renowned Double Shah scandal, Toyota Gujranwala Motors, and Ahmed City Housing Society are to receive compensation through cheques. A total of Rs404 million is being distributed to the victims of the Double Shah scandal; Rs104 million to those affected by Toyota Gujranwala Motors; and Rs3.6 million to the victims of Ahmed City Housing Society. The process of issuing intimation letter to above scam affectees has been completed by NAB Lahore. Director General NAB Lahore, Muhammad Ahtram Dar, stated that the protection of victims' rights and compensation for their losses remain the Bureau's top priorities. He emphasized that NAB officers are actively working to ensure swift and fair recovery processes. To facilitate the victims, NAB Lahore has waived the requirement of bringing stamp papers at the time of cheque collection. DG NAB further noted that, under the vision of the NAB Chairman, a strict zero-tolerance policy is being enforced against illegal housing societies and Ponzi schemes that defraud general public under the guise of high-profit returns. Action against all such fraudulent entities is underway. Copyright Business Recorder, 2025
Express Tribune
28-04-2025
- Business
- Express Tribune
CBD opens Rs12b tenders for IT City
The Punjab Central Business District Development Authority (PCBDDA), commonly known as CBD Punjab, has opened tenders worth Rs12 billion for the development of the Nawaz Sharif IT City (NSITC) - a landmark infrastructure initiative aimed at accelerating Punjab's digital economy. To fast-track the construction process, the project has been divided into three packages. Following the earlier evaluation of technical bids, the PCBDDA on Monday opened the financial proposals for all segments. Maaksons Construction Company submitted the lowest bid of Rs4 billion for Package One. Habib Construction Services offered the lowest bid of Rs3.6 billion for Package II, while Package Three saw a joint lowest bid of Rs3.9 billion from Habib Construction Services and IKAN Engineering Services. The authority has now started the financial evaluation process, after which contracts will be formally awarded to the successful bidders. Punjab Chief Minister Maryam Nawaz has described the NSITC as Pakistan's first project of its kind. She stated that the twin towers planned within the IT City, along with a "plug and play" call centre hub, are expected to be completed within the year. The hub is designed to offer IT education and employment opportunities to young people across the province.
