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Federal Finance Minister Saleem H Mandviwalla has said a comprehensive roadmap would be left for the incoming government to help it get rid of circular debt and improve performance of public sector companies.
He was speaking at the signing and launching ceremony of Corporate Governance Rules 2013 for public sector companies here on Friday.“We will leave a roadmap for the next government to tackle circular debt and make state-owned enterprises efficient,” Mandviwalla said, terming the inter-corporate debt and revival of state enterprises two major challenges.
Dismissing reports that the government had provided Rs100 billion to Pakistan International Airlines (PIA), he clarified that only Rs46 million had been given to the national flag carrier to help it buy new aircraft.He expressed the hope that the launch of Corporate Governance Rules 2013 for public sector companies would improve the performance of state enterprises and benefit the country.
He also credited his predecessor Dr Abdul Hafeez Shaikh with managing the country’s economic and financial affairs well, despite multiple challenges.
The International Monetary Fund (IMF) is planning to cut its US growth forecast for this year due to higher taxes and spending cuts, Italian news agency ANSA said, citing a draft of the IMF's next World Economic Outlook report.
The U.S. economy, the world's biggest, will expand 1.7 percent this year, down from the 2.0 percent predicted in January, ANSA re..... Read more
The ministry of petroleum and the Oil and Gas Regulatory Authority (Ogra) are at loggerheads over recovery of Rs11 billion on account of pilfered gas in Khyber Pakhtunkhwa and Balochistan from honest consumers of Punjab and Sindh.
The petroleum ministry is worried over the Ogra’s stance of burdening 6.5 million existing consumers with Rs40..... Read more
Speakers at a round table conference Thursday said that the Gwadar Port would be mutually beneficial for both Pakistan and China as well as for many other regional countries.
The roundtable discussion on ‘Gwadar: Current Status and Future Prospects’ was organized here by the Institute of Policy Studies (IPS) in collaboration with the Pakista..... Read more
