Pakistan’s State Minister for Revenues Hammad Azhar presented budget 2019-20 in National Assembly on Tuesday.
The UAE’s US$3 billion deposit with the State Bank of Pakistan has contributed to alleviating the country’s financial crisis and easing pressure on foreign exchange reserves, according to Pakistan’s State Minister for Revenues.
Hammad Azhar made the remarks on Tuesday as he presented to the National Assembly Pakistan’s general budget with a total outlay of Rs 7.022 trillion for the fiscal year 2019-20, registering a growth of 30 per cent against the revised budget of Rs 5.385 trillion for current fiscal year .
The minister underlined the importance of the financial aid received by his country from Saudi Arabia, which totaled $6.00 billion, and the UAE, as well as $6.00 billion from the International Monetary Fund, which, he said, have all helped stabilise Pakistan’s economy in general and the rupee in particular.
Glenn Maxwell missed a hundred by 2 runs as Australia defeated Pakistan by six runs in the fourth one-day international in Dubai on Friday to take 4-0 lead in the five-match series.
Pakistan Prime Minister Imran Khan’s government vowed to collect more taxes and make cuts in spending in a closely watched budget presented to parliament Tuesday, weeks after reaching a deal with the IMF for a $6 billion bailout.
The tranches were fully subscribed by a syndicate of leading UAE banks, the government statement said.
Recent measures in Pakistan to widen the tax net, initiating a number of proposals like an amnesty scheme to allow people to declare their ‘unknown’ assets, and changes in tariff in many services and products, have created confusion among the Pakistani expatriates in the UAE.
NAB's lawyer said that the investigations with Maryam had not yet been completed and requested an extension in remand for that purpose. In response, Maryam's lawyer Amjad Pervez said that the investigation had been carried out in all cases and the trial had been completed.
According to a statement released by the authority, a group of individuals of a Gulf country nationality were caught attempting to smuggle into the UAE, nine birds from the hornbill family species, and eight Siamese crocodiles (Crocodylus siamensi).
The United Arab Emirates has expressed its regret and categorical rejection of allegations it is facing in light of ongoing developments in Aden, affirming its firm stance as a Coalition partner and determination to continue exerting all efforts to de-escalate the current situation in Yemen.