• Latest
  • Trending
In a bid to overcome inflation, stabilised exchange rate is must, says Tarin

In a bid to overcome inflation, stabilised exchange rate is must, says Tarin

November 24, 2021
Dominica: Sports Division Primary Schools boys Division One football competition concluded (Image Courtesy: Facebook)

Dominica: Sports Division Primary Schools boys Division One football competition concluded

February 3, 2023
Dominica: PM Skerrit met with IsraAID members; discusses several matters of concern (Image Courtesy: Facebook)

Dominica: PM Skerrit met with IsraAID members; discusses several matters of concern

February 2, 2023
'All limitations are self imposed', shares Dr Ernest Hilaire in message (Image courtesy: Facebook)

‘All limitations are self imposed’, shares Dr Ernest Hilaire in message

February 1, 2023
Saint Lucia govt announces recent changes in petroleum, gas prices (Image Courtesy: Facebook)

Saint Lucia govt announces recent changes in petroleum, gas prices

January 31, 2023
SALCC held ceremony to announce completion and official opening of the Derek Walcott Library (Image Courtesy: Facebook)

SALCC held ceremony to announce completion and official opening of the Derek Walcott Library

January 30, 2023
'Always do what you're afraid to do', shares Deputy PM Hilaire in message (Image Courtesy: Google)

‘Always do what you’re afraid to do’, shares Deputy PM Hilaire in message

January 28, 2023
Saint Lucia witnesses District Two Fun Walk; over thousand students participates in walk (Image Courtesy: Facebook)

Saint Lucia witnesses District Two Fun Walk; over thousand students participates in walk

January 27, 2023
The launch of Saint Lucia Jazz and Arts Festivals is a resounding success, says Ernest Hilaire (Image Courtesy: Facebook)

The launch of Saint Lucia Jazz and Arts Festivals is a resounding success, says Ernest Hilaire

January 26, 2023
Saint Lucia Tourism Authority to host official launch of St Lucia Jazz and Arts Festival (Image Courtesy: Facebook)

Saint Lucia Tourism Authority to host official launch of St Lucia Jazz and Arts Festival

January 25, 2023
St Lucia: PM Pierre tables motion to debate, examine recommendations of St Jude Hospital Reconstruction Project (Image Courtesy: Facebook)

St Lucia: PM Pierre tables motion to debate, examine recommendations of St Jude Hospital Reconstruction Project

January 24, 2023
St Lucia: Julien Alfred sets new NCAA record clocking 7.02 to win 60m dash at Martin Luther King Invitational (Image Courtesy: Facebook)

St Lucia: Julien Alfred sets new NCAA record clocking 7.02 to win 60m dash at Martin Luther King Invitational

January 23, 2023
Seeing guests disembarking on Arvia’s call to Saint Lucia is very encouraging: Ernest Hilaire (Image courtesy: Facebook)

Seeing guests disembarking on Arvia’s call to Saint Lucia is very encouraging: Ernest Hilaire

January 21, 2023
Daily Punch
Monday, February 6, 2023
Advertise
  • News
  • Pakistan
  • Featured
  • World
  • Movies
    • Shows & Series
  • Health
    • Diet
    • Food
  • Universe
No Result
View All Result
Daily Punch
No Result
View All Result

In a bid to overcome inflation, stabilised exchange rate is must, says Tarin

by admin
November 24, 2021
in Featured, News
0

The adviser to the Prime Minister for Finance and Revenue, Shaukat Tarin, has stressed the need to stabilize the exchange rate to overcome inflation.

“The instability in the exchange rate has increased inflation and the government is trying to reduce its burden on people from the low income group,” Tarin said, as quoted by Radio Pakistan, during an interview on the Samaa ‘television program. Nadeem Malik Live ‘on Tuesday.

Advertisement

YOU MAY ALSO LIKE

Dominica: Sports Division Primary Schools boys Division One football competition concluded

Dominica: PM Skerrit met with IsraAID members; discusses several matters of concern

He said the government needed to keep the exchange rate close to the “real effective exchange rate.” He said that the drop in the exchange rate had a big impact on inflation.

Track and trace system to expand the tax network
The financial advisor said that the Federal Revenue Board (FBR) track and trace system (TTS) will be implemented in various sectors to expand the tax network, adding that technology was being used for that purpose.

Prime Minister Imran Khan launched the TTS on Tuesday aimed at helping the government minimize tax evasion and crack down on illicit trade in different sectors.

In the first phase, TTS was implemented in the sugar industry to monitor the movement of sugar from factories in order to control tax evasion. The sugar industry has become the second sector after cigarettes to be incorporated into the electronic control system. The FBR plans to incorporate the beverage, cement, fertilizer, iron and oil sectors under this system.

In response to a question about an increase in the energy tariff, Tarin acknowledged that the International Monetary Fund (IMF) had required the government to change the tariff.

However, he said that any increase in electricity rates by the government would be less than what the IMF had demanded.

Advertisement

Responding to another question about tax collection targets, he said the assessment would be made on people’s real assets so that a real tax could be imposed on them.

The adviser said that the SBP’s net international reserves showed that equalization was occurring on a net basis. “He also shows that his foreign currency reserves are not shrinking,” he added.

He stressed that the government seeks to give a break to the urban middle class, which has been hit hard by inflation.

Pressure on the current account deficit
The financial advisor explained that the basic inflation rate in the country was still at 7.15 percent. He said pressure on the current account deficit was allowing people to “psychologically convert assets into dollars, so an increase in the discount rate can stop that process.”

Responding to a question about subsidies from Saudi Arabia, he said that there were some legal clauses in the KSA draft agreement, which the Law Ministry had examined and the matter had been practically resolved.

ShareTweetPin

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Search

No Result
View All Result

Recent News

Dominica: Sports Division Primary Schools boys Division One football competition concluded (Image Courtesy: Facebook)

Dominica: Sports Division Primary Schools boys Division One football competition concluded

February 3, 2023
Dominica: PM Skerrit met with IsraAID members; discusses several matters of concern (Image Courtesy: Facebook)

Dominica: PM Skerrit met with IsraAID members; discusses several matters of concern

February 2, 2023
'All limitations are self imposed', shares Dr Ernest Hilaire in message (Image courtesy: Facebook)

‘All limitations are self imposed’, shares Dr Ernest Hilaire in message

February 1, 2023

Pakistan Daily News Provider

Recent News

  • Dominica: Sports Division Primary Schools boys Division One football competition concluded
  • Dominica: PM Skerrit met with IsraAID members; discusses several matters of concern
  • ‘All limitations are self imposed’, shares Dr Ernest Hilaire in message
  • About
  • Contact Us
  • Feedback
  • Terms of Use
  • Privacy Policy
  • Editorial Policy

© 2023 JNews - Premium WordPress news & magazine theme by Jegtheme.

No Result
View All Result
  • Home
    • Home – Layout 1
    • Home – Layout 2
    • Home – Layout 3
  • Government
  • Economy
  • Entertainment
  • Sport
  • Property
  • Leisure