Latest news with #MuhammadIshaqDar
Gulf Today
a day ago
- Business
- Gulf Today
Azerbaijan to invest $2 billion in economic sector of Pakistan
Pakistan and Azerbaijan on Friday signed a partnership agreement of US$2 billion investment in Pakistan, reflecting the continuing flow of investment in Pakistan, Associated Press of Pakistan (APP) reported. In the presence of Pakistani Prime Minister Muhammad Shehbaz Sharif, Deputy Prime Minister and Foreign Minister Muhammad Ishaq Dar and Azerbaijani Economy Minister Mikayil Jabbarov signed the agreement for investment of a total of US$2 billion by Azerbaijan in the economic sector of Pakistan. The agreement was signed between the two countries after a cordial meeting between the Prime Minister and the Azerbaijani President Ilham Aliyev in Khankandi. The agreement has taken investment and trade relations between the two countries to a historic level, according to APP. The agreement will prove to be a milestone for further promotion of brotherly relations between the two countries and for strengthening of trade partnership. Both countries also agreed on further exchanges to promote cooperation in various sectors. WAM
Business Recorder
2 days ago
- Business
- Business Recorder
Azerbaijan to invest $2bn in economic sector
SHUSHA, (Azerbaijan): Pakistan and Azerbaijan in a major development Friday signed a partnership agreement of $ two billion investment in Pakistan. The agreement was reflective of the continuing flow of investment in Pakistan under the leadership of Prime Minister Muhammad Shehbaz Sharif. In the presence of the prime minister, Deputy Prime Minister and Foreign Minister Muhammad Ishaq Dar and Azerbaijani Economy Minister Mikayil Jabbarov signed the agreement for investment of a total of $ two billion by Azerbaijan in the economic sector of Pakistan. The Pakistani delegation was also present on this occasion. PM Shehbaz urges regional unity, highlights India's 'weaponisation of water' at ECO summit The agreement was signed between the two countries after a cordial meeting between the Prime Minister and the Azerbaijani President Ilham Aliyev in Khankandi. While the final and detailed agreement will be signed during the Azerbaijani President's visit to Pakistan. The agreement has taken investment and trade relations between the two countries to a historic level. This agreement will prove to be a milestone for further promotion of brotherly relations between the two countries and for strengthening of trade partnership. Prior to the recent visit of the Prime Minister, the Deputy Prime Minister and Foreign Minister, Pakistani diplomatic mission and delegations reached consensus on different aspects of this agreement. Both countries also agreed on further exchanges to promote cooperation in various sectors. While talking to media in Shusha, Prime Minister Shehbaz Sharif told that Pakistan and Azerbaijan signed investment agreement of $ two billion, adding in future the investment will be increased manifold. 'We are thankful to President of Azerbaijan for investment in Pakistan,' he remarked. He said he had a productive and useful meeting with the President of Azerbaijan. The prime minister said the member countries at the Economic Cooperation Organisation (ECO) summit agreed to enhance cooperation in trade, investment, water resources and different other fields. The member countries also agreed to increase cooperation on issue of melting of glaciers, he added.
Business Recorder
18-06-2025
- Business
- Business Recorder
Digital sales tax stays with provinces, solar GST cut to 10%: Dar
Deputy Prime Minister and Foreign Minister, Senator Muhammad Ishaq Dar on Wednesday said that the digital sales tax on services would remain within the jurisdiction of provinces, while the proposed 18% GST tax on solar panels had been reviewed and revised down to 10% following consultations. Speaking in the National Assembly, Senator Dar stated that after detailed discussions with coalition partners and relevant stakeholders, consensus had been reached on resolving several contentious budgetary issues. As part of the revisions, it was agreed that the imposition of digital sales tax on services falls under the constitutional domain of provincial governments. 'The concerns regarding digital taxation were valid. We held in-depth consultations with all stakeholders, including the Federal Board of Revenue (FBR), and it has been decided that the matter will be clearly addressed in the Finance Minister's budget winding-up speech,' he said. Mian Zahid concerned over proposed 18pc tax on solar panels Dar further clarified that the earlier proposal of imposing 18% General Sales Tax (GST) on solar panels had sparked considerable debate. Upon review, it was revealed that 54% of components used in solarization were already taxed under the existing regime, and the 18% tax applied only to the remaining 46%. However, after mutual consultations, we have now proposed reducing the solar GST from 18% to 10%, he announced. He emphasized that tax proposals are essential for revenue generation, and any relief in one area necessitates compensation elsewhere. He pointed out that when the cabinet found the initial proposal of a 6% salary increase for government employees insufficient and raised it to 10%, corresponding budgetary adjustments also had to be made. 'We must move forward collectively. Our approach is rooted in consensus and cooperation,' he said. enter link description here Highlighting another key issue, Dar said it was decided to maintain funding for a proposed university in Sindh under the Public Sector Development Programme (PSDP) at Rs 4.7 billion through the Higher Education Commission (HEC). He also acknowledged valid concerns raised by MNAs regarding the closure of the Public Works Department (PWD) and confirmed that the Pakistan Infrastructure Development Company Limited (PIDCL) would now oversee all federal development projects across provinces. He said, while PIDCL was initially formed for Sindh, its mandate has now been expanded to oversee development projects across all provinces. Senator Dar concluded by reaffirming the government's willingness to address genuine concerns through mutual dialogue and constructive engagement. Meanwhile, Pakistan Peoples Party (PPP) MNA Syed Naveed Qamar thanked Prime Minister Shehbaz Sharif and Deputy Prime Minister Ishaq Dar for accommodating key PPP and Sindh government budget proposals. Speaking in the National Assembly, Qamar said the government accepted major demands raised by PPP lawmakers during the budget debate. He welcomed the reduction of proposed sales tax on solar equipment from 18% to 10%, aligning with the party's stance. He also acknowledged the government's decision to expand the mandate of the Pakistan Infrastructure Development Company Limited (PIDCL) to all provinces, instead of limiting it to Sindh, effectively addressing another PPP concern.
Dubai Eye
17-06-2025
- Politics
- Dubai Eye
Sheikh Abdullah discusses regional conflict with top diplomats
Sheikh Abdullah bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Foreign Affairs, held phone calls with numerous counterparts from around the globe, as the Israel-Iran conflict entered its fifth day on Tuesday. The phone calls were conducted with Muhammad Ishaq Dar, Pakistan's Deputy Prime Minister and Foreign Affairs Minister; Antonio Tajani, Deputy Prime Minister and Minister of Foreign Affairs of Italy; Hakan Fidan, Minister of Foreign Affairs of Turkey; Péter Szijjártó, Minister of Foreign Affairs of Hungary; and Asaad Al-Shibani, Minister of Foreign Affairs of Syria. During these discussions, the top diplomats examined the implications of the current situation on the region's security and stability. The phone conversations also underscored the importance of supporting diplomatic solutions and dialogue in resolving crises in a way that contributes to maintaining regional and international peace and stability.
The National
11-06-2025
- Business
- The National
Pakistan Prime Minister Shehbaz Sharif to visit UAE on Thursday
Pakistan Prime Minister Shehbaz Sharif will visit the UAE on Thursday to discuss strengthening ties between the countries. Mr Sharif will be in Abu Dhabi for a day-long visit, Pakistani officials said. The Pakistani leader will be accompanied by Muhammad Ishaq Dar, Pakistan's Deputy Prime Minister and Foreign Minister, plus other senior federal ministers. 'The visit reflects the deep-rooted fraternal ties between Pakistan and the UAE,' a spokesman from Pakistan's Ministry of Foreign Affairs said. Mr Sharif is scheduled to meet UAE leaders to discuss issues of bilateral, regional and global interest, the ministry said. His visit will seek to bolster relations between the two countries, deepen economic ties and collaboration, added officials. Mr Sharif met President Sheikh Mohamed on his last visit to the UAE in February, and also attended the World Governments Summit in Dubai. During the meeting in Abu Dhabi, Sheikh Mohamed and Mr Sharif reviewed efforts to bolster co-operation and strengthen economic and trade ties. Sheikh Mohamed earlier met Mr Sharif in the city of Rahim Yar Khan in January, during a visit to Pakistan. The UAE is home to about 1.7 million Pakistani citizens and relations between the two countries date back to the foundation of the Emirates in 1971.
