ANI
27 Nov 2021, 11:57 GMT+10
Islamabad,{Pakistan }: November 27, (ANI): Adviser to the Prime Minister on Finance and Revenue Shaukat Tarin downplayed on Friday the incidence of poverty in Pakistan while insisting that its rate has gone down recently.
According to the Dawn, Shaukat Tarin, said the latest figures by the World Bank show the incidence of poverty dropped to 4.2 per cent from 5.4 per cent a year ago.
"Our problem is inflation, which has affected the lower middle class in urban areas the worst," he said.
Earlier, although the exchange rate hovered above Rs 178 in the open market on Friday, the finance adviser insisted that its actual value should be Rs 165 to Rs 167 as per the real effective exchange rate, a technical measure that compares the value of a nation's currency against the weighted average of the currencies of its major trading partners.
Earlier, Shaukat Tarin inaugurated the country's first Professional Clearing Member (PCM) at the Central Depository Company House. The introduction of the PCM regime is aimed at minimising the risk of custody defaults by transferring custody of shares to the PCM, it added.
On the other hand, the finance adviser visited the office of the Pakistan Banks' Association (PBA).
According to the Dawn, PBA conveyed its concerns to Shaukat Tarin, about the continuing 'wide disparity between the lower tax rates on profit/dividends from investment in shares listed on the stock market as well as units of mutual funds and the tax rates on profit from bank deposits classified as 'profit on debt'. (ANI)Get a daily dose of Israel Herald news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Israel Herald.
More InformationGENEVA, Switzerland: A new United Nations report alleges that dozens of global corporations are profiting from and helping sustain...
LONDON, UK - Lawmakers in the United Kingdom have voted overwhelmingly to proscribe the direct-action group Palestine Action as a terrorist...
DHARAMSHALA, India: The Dalai Lama is set to address a significant three-day conference of Buddhist leaders this week, coinciding with...
WASHINGTON, D.C.: In a significant ruling last week, the U.S. Supreme Court upheld a Texas law requiring age verification for users...
ISTANBUL/PARIS/BRUSSELS: As searing temperatures blanket much of Europe, wildfires are erupting and evacuation orders are being issued...
VENICE, Italy: Over the weekend, hundreds of protesters marched through the narrow streets of Venice to voice their opposition to billionaire...
NEW YORK, New York -U.S. stock markets closed with broad gains on Thursday, led by strong performances in U.S. tech stocks, while European...
LONDON/STOCKHOLM: The Persson family is ramping up its investment in the H&M fashion empire, fueling renewed speculation about a potential...
PARIS, France: L'Oréal is making a fresh play in the booming premium haircare segment with a new acquisition. The French beauty conglomerate...
MENLO PARK, California: Robinhood is giving European investors a new way to tap into America's most prominent tech names — without...
NEW YORK, New York - U.S. stocks diverged on Wednesday for the second day in a row. The Standard and Poor's 500 hit a new all-time...
NEW YORK CITY, New York: The U.S. dollar continues to lose ground, weighed down by growing concerns over Washington's fiscal outlook...