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Asad Umar Removed Finance Minister Cement Prices FBR Undeclared Assets Dada Pota Show 19-04-2019

Dada Pota Show of 19-04-2019. The only program of business and economy in Pakistan.

Asad Umar Removed Finance Minister Cement Prices FBR Undeclared Assets Dada Pota Show 19-04-2019

Dada Pota Show 19-04-2019 based on Asad Umar Removed Finance Minister Cement Prices FBR Undeclared Assets. Today, Dada G shared his opinion on important news that Asad Umar resigns as finance minister. Youtube: Pakistan Tehreek-e-Insaf (PTI) Member National Assembly (MNA) Asad Umar has decided to quit as the finance minister of Pakistan, Dunya News reported on Thursday. The PTI leader held a press conference in Islamabad and told that he conducted a detailed meeting with Prime Minister Imran Khan after his proposal of reshuffling of the cabinet. “I convinced the premier to allow me to step down from the cabinet,” he said. “I thank Imran Khan for inviting me to join PTI and to put his trust in me. My support will always be PTI which will make naya (new) Pakistan. “I have had an amazing journey in Pakistan Tehreek-e-Insaf since April 18, 2012 – the day I joined the party. “I enjoyed a lot of success and faced difficult times as well. I specially thank PTI supporters and social media volunteers for their tremendous support. “Special gratitude goes to the people of NA-48 and NA-54 for electing me. “The economy of Pakistan – when I took charge – was in the most dangerous condition and we could have fallen into a pitfall if correct and bold decisions had not been made. “The economic condition improved during my tenure and the figures verify the claim. “Although the new finance minister will assume the office in a relatively better position, still difficult decisions will have to be made. “The economy is going towards betterment but finance ministry is still the second most difficult job in Pakistan after the premiership. “The people should show patience and support tough decisions. Choices made in haste may drop the economy back into the pitfall.” Earlier, the PTI leader took to Twitter and informed that Prime Minister Imran Khan asked him to take the energy minister portfolio instead of finance. Asad Umar continued that he has decided not to take any cabinet position after the premier’s consent. He said he strongly believes Imran Khan is the best hope for Pakistan.
The development has occurred amidst an economic crisis. Imran Khan had expressed dissatisfaction over Asad Umar’s performance earlier as well. Asad Umar had claimed that the country’s economy had recovered from an “ICU state” after talks with the International Monetary Fund (IMF) entered the final stage. “The PTI government inherited a very sick patient that had been taken out of the ICU [Intensive Care Unit]. The government, therefore had to take emergency measures,” the minister had said. Asad Umar was sworn in as the Federal Minister for Finance, Revenue, and Economic Affairs in the federal cabinet of Prime Minister Imran Khan on August 20, 2018.

By & large, Dada G & Pota G presented a very good show. We received huge feedback in the form of SMS & facebook posts. If you missed today’s Dada Pota Show, there is no need to worry because you are just a click away. You can download and listen it now. “Dada Pota” show on-air at www.dadapota.pk.

Sukuk Bonds Housing Program China FTA Textile Orders Imran Khan Visit Iran Dada Pota Show 18-04-2019

Dada Pota Show of 18-04-2019. The only program of business and economy in Pakistan.

Sukuk Bonds Housing Program China FTA Textile Orders Imran Khan Visit Iran Dada Pota Show 18-04-2019

Dada Pota Show 18-04-2019 based on Sukuk Bonds Housing Program China FTA Textile Orders Imran Khan Visit Iran. Today, Dada G shared his opinion on important news that Govt can float Sukuk to raise funds for housing programme. Youtube: The capital market of Pakistan has been receiving a Shariah-compliant investment instrument – called Sukuk – for the past couple of decades. The Islamic finance segment in Pakistan has expanded significantly with the issuance of many Shariah-compliant products, especially by the corporate and public sectors. Sukuk has also attracted the attention of investors in western countries as a reliable source of investment, which is based on the ownership of assets. Most recently, the federal government on March 1, 2019 issued the first-ever Pakistan Energy Sukuk-I (PES-1) worth Rs200 billion ($1.45 billion). The bond float came with the objective of reducing circular debt in the energy sector as eliminating the circular debt, which has piled up to Rs1.4 trillion, is a key part of ongoing bailout talks with the IMF. Since coming to power in August 2018, the PTI government has been facing challenges on many fronts such as the balance of payments crisis, sharp rupee depreciation and drain on foreign currency reserves. With such huge challenges, the government is searching for new sources of financing. The total size of the PES-I Sukuk was Rs400 billion, which was agreed in November last year. However, in the first phase, Sukuk of Rs200 billion was issued to a consortium of Meezan Bank (Rs88 billion), Faysal Bank (Rs35 billion), BankIslami Pakistan (Rs35 billion), Dubai Islamic Bank Pakistan (Rs14.15 billion), MCB Islamic Bank (Rs10 billion), Al Baraka Bank Pakistan (Rs8.9 billion) and other banks (Rs9 billion). The 10-year Pakistan Energy Sukuk is a redeemable capital instrument under Section 66 of the Companies Act 2017 with face value of Rs100,000 each. The profit rate is six-month Kibor plus 80 basis points per annum. The bond has a clause that says in case of failure to make timely payment of profit, an additional amount will be paid at the rate of 120 basis points per annum to the investors. The Sukuk is backed by assets of the Water and Power Development Authority (Wapda), the power generation companies’ (Gencos) holding company and power distribution companies of Peshawar, Islamabad, Gujranwala, Lahore, Faisalabad and Multan. Although with the recent issue the Sukuk market has got a boost, it needs further development in terms of structure and legal documents. An increase in Sukuk issues can provide an additional opportunity for Islamic banks to park their surplus liquidity and help strengthen industrial and national growth. Since the inception of Sukuk in Pakistan, eight such instruments have been issued with a cumulative value of around Rs1.2 trillion. Of these, public-sector Sukuk has dominated the market with a value of approximately Rs900 billion issued directly by the government whereas around Rs150 billion of Sukuk has been floated by public-sector organisations. Apart from these, corporate Sukuk issues have a value of Rs170 billion. The government of Pakistan has also approached global capital markets – first in 2005 with a $600-million Sukuk and then of $1-billion Sukuk in 2014, 2016 and 2017 each.

By & large, Dada G & Pota G presented a very good show. We received huge feedback in the form of SMS & facebook posts. If you missed today’s Dada Pota Show, there is no need to worry because you are just a click away. You can download and listen it now. “Dada Pota” show on-air at www.dadapota.pk.

Pakistan IMF Agreement Gas Prices Currency Market Euro Bond Political Economy Dada Pota Show 17-04-2019

Dada Pota Show of 17-04-2019. The only program of business and economy in Pakistan.

Pakistan IMF Agreement Gas Prices Currency Market Euro Bond Political Economy Dada Pota Show 17-04-2019

Dada Pota Show 17-04-2019 based on Pakistan IMF Agreement Gas Prices Currency Market Euro Bond Political Economy. Today, Dada G shared his opinion on important news that Pakistan to sign $6-8 billion agreement with IMF: Asad Umar. Youtube: Finance Minister Asad Umar revealed on Monday that Pakistan would sign a bailout agreement with International Monetary Fund (IMF) that would be worth $6-8 billion.

Briefing the National Assembly’s Standing Committee on Finance, Revenue and Economic Affairs chaired by Faizullah Kamoka, the finance minister said the IMF finalised a bailout package for Pakistan during talks between the two sides at a recent visit by the Pakistani delegation to the United States.

Pakistan would receive funds from the World Bank and Asian Development Bank immediately following the IMF bailout, he said.

Umar said the IMF package would ease off pressure from the country’s foreign reserves.

External account pressure reduced Pakistan’s international reserves to $6.6 billion by mid-January 2019, but with short-term financing from Saudi Arabia, the United Arab Emirates and China, foreign reserves increased to $10.5 billion at the end of March.

The finance minister further assured that the capital market would also improve following the IMF programme.

Umar told the committee that an IMF mission will visit Islamabad during the last week of April, which is when the bailout package amount will be finalised.

Speaking to media later, he said the public will not be impacted by the IMF agreement, and the government has no plans to raise electricity prices, the minister said.

Umar said he met with Financial Action Task Force (FATF) President Marshall Billingslea during the US visit, who assured him that any decision would be taken on technical grounds.

Pakistan will send a draft detailing its implementation on FATF’s recommendations by today, he said. A delegation of FATF will visit Pakistan in the third week of May to review the implementation efforts.

IMF did not object to an asset declaration scheme proposed by Pakistan, sources said earlier, pointing out that Pakistan had already shared a draft of the proposed scheme with the IMF and the FATF.

Asad Umar is also set to meet Prime Minister Imran Khan and take him into confidence regarding the IMF talks.

Information Minister Fawad Chaudhry, speaking to media earlier today, said the finance minister will inform the nation regarding the IMF agreement in the coming days.

Chaudhry said the country can expect some major news about the economy within the next two days. “Pakistan’s economy is moving towards strength,” he said, adding that there had been “positive progress” with the Paris-based anti-terror laundering watchdog FATF as well. Meanwhile, Minister of State for Revenue Hamad Azhar said an agreement in principle had been reached on all outstanding issues with IMF during the finance minister’s recent successful visit to the US. He said technical details and formalities would now be finalised during the IMF’s staff-level visit to Pakistan later this month.

By & large, Dada G & Pota G presented a very good show. We received huge feedback in the form of SMS & facebook posts. If you missed today’s Dada Pota Show, there is no need to worry because you are just a click away. You can download and listen it now. “Dada Pota” show on-air at www.dadapota.pk.

Pakistan Pulls Out Doha Talks Foreign Reserves PSDP Governmental Bonds Dada Pota Show 16-04-2019

Dada Pota Show of 16-04-2019. The only program of business and economy in Pakistan.

Pakistan Pulls Out Doha Talks Foreign Reserves PSDP Governmental Bonds Dada Pota Show 16-04-2019

Dada Pota Show 16-04-2019 based on Pakistan Pulls Out Doha Talks Foreign Reserves PSDP Governmental Bonds. Today, Dada G shared his opinion on important news that Pakistan pulls out of US-Taliban talks in Doha. Youtube: Pakistan will not be attending talks between the United States and Afghan Taliban scheduled in the Qatari capital Doha later this month, the foreign office spokesperson announced on Thursday, in a development apparently indicating a trust-deficit among the stakeholders. Pakistan, which brokered the on-going peace talks, attended the previous sessions both in the United Arab Emirates (UAE) and Doha. “Pakistan will not be part of the next round of talks between the US and Taliban in Doha in April,” Foreign Office Spokesperson Dr Muhammad Faisal told reporters at a weekly press briefing when asked whether Pakistan was going to attend the next round. “There will also be an Intra-Afghan dialogue in Doha on 14-15 April 2019, organised by Russia,” the spokesperson added. Although, Pakistan will not be part of the coming talks, the spokesperson made it clear that Islamabad had supported the peace talks in the past and would continue playing its facilitating role for durable peace in Afghanistan. Dr Faisal, however, did not elaborate as to why Pakistan was staying away from the planned talks in Doha. Observers believe that the recent reaction both from Kabul and Washington to Prime Minister Imran Khan’s statement suggesting an interim set up in Afghanistan could be the reason behind Pakistan staying away from the peace talks. Speaking to a group of journalists, Prime Minister Khan had reportedly proposed the formation of an interim government in Afghanistan in order to break the stalemate in talks. The statement invited strong reaction from US chief negotiator Zalmay Khalilzad as well as the Afghan government, which called back its ambassador from Islamabad as protest. The US ambassador to Kabul went on to school Prime Minister Khan on diplomacy, something that drew even stronger reaction from Human Rights Minister Shireen Mazari, who called the US envoy a “little pygmy”. The foreign office clarified the prime minister’s reported remarks that helped eased the diplomatic hiccup. However, days later Khan reignited the debate by saying at a public gathering in Jamrud that he had given “brotherly advice” to Afghanistan. The Afghan government summoned the Pakistani envoy in Kabul to lodge a formal protest over Khan’s remarks. The US and Taliban representatives have been engaged in extensive talks since last few months with reports suggesting that the two sides are close to a draft agreement. Talks have so far focused on the timeline for the US withdrawal from Afghanistan and firm guarantees by the Taliban that terrorists will not be allowed to use Afghan soil. However, deadlock on the inclusion of Afghan government in the peace talks still persists. More info on Pulwama Meanwhile, the spokesperson told reporters that Pakistan handed over a further set of questions to India regarding the Pulwama attack. The questionnaire was handed over to the Indian deputy high commissioner, who was called in to the foreign office on Thursday. Islamabad recently informed India that based on its “preliminary findings” no linkages had so far been established between the Pulwama attack and Pakistan. The foreign office, however, said that Pakistan was willing to cooperate with India if it had any “actionable evidence”. Responding to a question, the spokesperson reiterated that Pakistan had “credible intelligence” regarding the imminent threat as mentioned by Foreign Minister Shah Mahmood Qureshi. “Any threat to Pakistan would beget a befitting reply. I would like to reiterate that Pakistan, however, believes in peace and dialogue and not war,” he added.

By & large, Dada G & Pota G presented a very good show. We received huge feedback in the form of SMS & facebook posts. If you missed today’s Dada Pota Show, there is no need to worry because you are just a click away. You can download and listen it now. “Dada Pota” show on-air at www.dadapota.pk.