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Hafeez Shaikh says exports increasing, economy reviving in country

Hafeez Shaikh says exports increasing, economy reviving in country
August 12, 2020
ISLAMABAD (92 News) – Adviser to the Prime Minister on Finance and Revenue Dr Abdul Hafeez Shaikh said that exports are increasing, while economy is reviving in the country. Talking to the media on Wednesday, he said that the government would provide as much money to Usman Dar for Kamyab Jawan Program as he required. "So far we have distributed the loans of Rs one billion among the youth," he said. He said that the mark-up on the loans given to the youth had been halved. "The number of banks for the program has been increased from three to 21," he added. Earlier, Adviser to the Prime Minister on Finance and Revenue Dr Abdul Hafeez Shaikh presided over a meeting of the Economic Coordination Committee (ECC) of the Cabinet. The meeting gave principled go-ahead to the payment of all liabilities and responsibilities resulting from a debt of US$ 105 million secured by the Pakistan International Airlines Corporation Limited (PIACL) owned Roosevelt Hotel in Manhattan, New York. It also asked the Finance Division to engage with Law Division, Aviation Division and Planning Planning Commission to formalize the mode of payment/refinancing as per schedule of the loan contracted by the Roosevelt Hotel to meet its financial challenges, and submit to ECC in its next meeting for formal approval. The ECC also considered approved a revision in key terms of Prime Minister’s Kamyab Jawan Youth Entreneurship Scheme for making the scheme accessible to all Pakistani citizens meeting the laid-down criteria. The ECC also took up and approved a proposal by the Cabinet Division for re-allocation through technical supplementary grant of lapsed funds of Rs 8.01 billion under sustainable development goals achievement programme (SAP) to respective Ministries and Divisions. It also discussed and approved amendments to the Import Policy Order 2016 to streamline international trade in live animals and their meat products in accordance with the international rules and practices. The ECC also approved a proposal by the Finance Division to allow the Asian Development Bank to launch Offshore Pakistan Rupee (PKR)-Linked bonds based on conducive market conditions.
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