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Furnace Oil Industrial Policy Banks Deposits SECP Indians Pakistani Firms Dada Pota Show 10-01-2019

Dada Pota Show of 10-01-2019. The only program of business and economy in Pakistan.

Furnace Oil Industrial Policy Banks Deposits SECP Indians Pakistani Firms Dada Pota Show 10-01-2019

Dada Pota Show 10-01-2019 based on Furnace Oil Industrial Policy Banks Deposits SECP Indians Pakistani Firms.

Today, Dada G shared his opinion on important news that Govt bans import of furnace oil.

The government has notified an immediate ban on the import of furnace oil and has directed all the refineries to utilise billions of rupees worth of deemed duty, which they collect on the sale of petroleum products, for the upgrade of their plants.

The government also instructed the refineries to immediately reduce the production of furnace oil to the minimum level and ink commercial agreements with power producers for the utilisation of their furnace oil storage capacity.

“In future, all the refineries will ensure that the production of furnace oil is at the minimum as a byproduct of crude oil processing,” a notification said.

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.

ECC Pakistan Steel Mills Revival Plan Governmental Borrowing Development Spending Slashed Dada Pota Show 09-01-2019

Dada Pota Show of 09-01-2019. The only program of business and economy in Pakistan.

ECC Pakistan Steel Mills Revival Plan Governmental Borrowing Development Spending Slashed Dada Pota Show 09-01-2019

Dada Pota Show 09-01-2019 based on ECC Pakistan Steel Mills Revival Plan Governmental Borrowing Development Spending Slashed.

Today, Dada G shared his opinion on important news that ECC. discusses Pakistan Steel Mills revival plan

Finance Minister Asad Umar chaired meeting of Economic Coordination Committee of the Cabinet (ECC) here on Tuesday.

The ECC had a detailed discussion on the proposal of Textile Division regarding withdrawal of custom duty, additional custom duty and sales tax on import of cotton.

The proposal was aimed at facilitating the import of cotton to bridge the demand and supply gap in the country, thereby helping out the textile industry, especially the export segment.

The Committee noted that detailed trade and revenue related data was required, which was not made part of the proposal. The relevant ministries were directed to fill the data gaps so that an informed decision could be taken in the matter.

The Ministry of Industries & Production shared with the meeting progress on the plan of action currently being formulated by a specially constituted experts group, suggesting viable options to revitalize the Pakistan Steel Mills (PSM).

The committee directed that the plan of action should be prepared in a cohesive manner, taking on board the PSM Board of Directors/Management and submitted for final approval as per the given timelines.

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.

Fitch Budget Deficit UAE Deferred Oil Payments PSX Political Economy Dada Pota Show 08-01-2019

Dada Pota Show of 08-01-2019. The only program of business and economy in Pakistan.

Fitch Budget Deficit UAE Deferred Oil Payments PSX Political Economy Dada Pota Show 08-01-2019

Dada Pota Show 08-01-2019 based on Fitch Budget Deficit UAE Deferred Oil Payments PSX Political Economy.

Today, Dada G shared his opinion on important news that Pakistan budget deficit projected to increase to 6% in 2019: Fitch.

Fitch Solutions, in a report released on Monday, said it projects Pakistan’s budget deficit to be 6% in the current financial year 2018-19, compared to 5.8% in the previous FY2017-18.

The government will probably have to slash its expenditures over the forthcoming months as it focuses to obtain funding from the International Monetary Fund (IMF) under the bailout programme due to weak revenue growth, said the research agency.

It warned that the widening current accounting deficit, weakening currency and sliding foreign exchange reserves indicate that the current fiscal trend where expenditures outmatch revenue growth is unsustainable.

The agency revised its projections for the budget deficit as a share of GDP to clock in at 6% in FY2018-19 (July-June) from 5.8% previously, due to the limited extent to how much the government can decrease expenditure and weak revenue growth.

Pakistan’s budget deficit as a percentage of GDP swelled to 6.6% in FY2017-18 from 4.6% in FY2015-16, as expenditure on average rose by 13.7% per annum, outmatching revenue at 8.5%, Fitch noted.

This trend persisted in the first quarter (July-September) of current FY2018-19, as expenditures soared by 12.1% year-on-year (YoY), while revenue rose by 7.5% YoY in the corresponding period.

Consequently, the budget deficit soared by 22.9% YoY to Rs541.7 billion in the first quarter of FY2018-19 against Rs440.8 billion in the corresponding period of FY2017-18.

The research agency cautioned the rising deficit trend is untenable and said it anticipates the government to slow its expenditure growth over the coming quarters.

It noted the increasing fiscal deficit had caused a balance of payment crisis that the country was currently facing and indicated it was running out of foreign exchange reserves to finance its imports since import cover was now at less than two months.

To plug the external financing gap, the incumbent government secured financial assistance totalling $6 billion from Saudi Arabia. However, the government is aware it immediately needs to further secure a similar sum from the International Monetary Fund (IMF) in order to finance imports and restore creditors’ confidence, the agency said.

It observed that the main bone of contention was the IMF demands for harsh austerity measures and reforms to state-owned enterprises (SOEs), which the government is reluctant to accept.

The research agency highlighted Pakistan would ultimately clinch an IMF bailout, however, it said there will be limited scope for the government to slash expenditure over the coming months.

According to Fitch Solutions, there was diminutive space for maneuvering due to a large debt servicing cost and huge military budget in terms of current expenditure.

‘Defence Affairs and Service’ accounted for 14.8% of overall current expenditure, while domestic servicing cost share was 31.2%, it noted.

Already, the government slashed development expenditure by 40% in the first quarter (July-September) of current FY2018-19 and is improbable to attain further savings from this segment, said Fitch.

The revenue growth is expected to stay weak and the need for international assistance comes against a backdrop of slowing economic growth in Pakistan.

Economic growth is projected to slow down to 4.4% in current FY2018-19 and 4.1% in FY2019-20.

The country suffers from a weak tax-to-GDP ratio, an issue the government has admitted and depends majorly (60%) on indirect taxes, said the report.

And the small tax base will hamper the government in raising revenue significantly in the near-term even if it has the intention to do so, explained Fitch Solutions.

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.

Abu Dhabi Crown Prince Oil Credit Facility Foreign Reserves Governmental Borrowing Dada Pota Show 07-01-2019

Dada Pota Show of 0-01-2019. The only program of business and economy in Pakistan.

Abu Dhabi Crown 7Prince Oil Credit Facility Foreign Reserves Governmental Borrowing Dada Pota Show 07-01-2019

Dada Pota Show 07-01-2019 based on Abu Dhabi Crown Prince Oil Credit Facility Foreign Reserves Governmental Borrowing.

Today, Dada G shared his opinion on important news that Abu Dhabi crown prince leaves for UAE after short Pakistan visit.

Crown Prince of Abu Dhabi Sheikh Muhammed bin Zayed Al Nahyan on Sunday left for the United Arab Emirates (UAE) after meeting Prime Minister Imran Khan among other leaders on a day-long visit to Pakistan.

During his one-to-one meeting with the Pakistani premier, bilateral relations and regional situation among other matters of mutual interest were discussed, Express News reported. The sides also held delegation level talks.

This was Abu Dhabi crown prince’s first visit to Islamabad in 12 years, during which he was expected to announce investment packages for Pakistan.

Earlier in the day, Prime Minister Imran along with other government officials received him at the airport and the premier personally drove the crown prince to the PM House.

This is the third interaction between the leadership of Pakistan and UAE in less than three months.

The crown prince was presented a guard of honour by a smartly turned out contingent. He was given twenty-one guns salute.

Sheikh Muhammed bin Zayed Al Nahyan was later greeted by the federal cabinet including Information Minister Fawad Chaudhry, Finance Minister Asad Umar and State Minister for Interior Sheryar Afridi.

The crown prince was expected to make an announcement of UAE’s $3billion aid and investment package to help Pakistan overcome its balance of payment while a proposal to provide oil facility on deferred payment will also be discussed.

Much like Saudi Arabia, UAE announced that it will provide Pakistan with an aid package which will include $9billion in oil payments and a $3billion deposit in the State Bank of Pakistan. The Middle Eastern country will also reportedly announce investment in various fields in Pakistan.

UAE is Pakistan’s largest trading partner in the Middle East and a major source of investments. More than 1.6 million expatriate Pakistani currently reside in UAE who contribute around $4.5billion annually to its GDP.

Pakistan and Abu Dhabi are also likely to sign a deal the for investment of $1 billion by the emirate in setting up oil storages at Gwadar Port and laying a white oil pipeline during the crown prince’s visit.

Sources told The Express Tribune that the United Arab Emirates (UAE) had agreed to invest $1 billion through Mubadala, a global investment company. With this capital injection, the total UAE assistance and investment package for Pakistan will rise to $7.2 billion. It also includes a $3.2-billion oil credit facility and $3 billion in cash support for balance of payment.

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.