Blue print for Exim Bank of Pakistan to be completed by September, FM

Ishaq Dar chaired a meeting to review the implementation status of the initiatives, announced in the federal budget 2014-15 at the Ministry of Finance Affairs today.

During the meeting Finance Secretary Dr Waqar Masood gave a detailed presentation on the status of the initiatives and the progress made so far on the implementation. He informed that blue print to incorporate Exim Bank of Pakistan will be done by September this year adding a legal framework through the act of the parliament will be initiated thereafter.

Dr Waqar Masood informed that the initial report for the establishment of Pakistan Land Port Authority will be presented to Finance Minster by July 15, 2014. He said that reduction in the mark up rates of Exports Refinance Facility and Long Term Finance Facility has already been done.

Ministry of Finance officials informed that Finance Division was following up on the decisions for disposal of all pending sales tax refunds by September 30 and in future disposal of sales tax refunds will be ensured within three months by the FBR.

Ishaq Dar advised to soon design credit guarantee scheme for small and marginalized farmers as well as to issue notice for the provision of incentives for processing industries in Makran, Gilgit Baltistan, Swat and FATA

The meeting was also informed that monthly stipend of Benazir Income Support Programme (BISP) has been increased from Rs1200 to Rs1500.