News Column

Dar dismisses ‘minus Nawaz’ formula (initial)

August 7, 2014

Finance Minister Ishaq Dar has dismissed the ‘minus Nawaz’ formula which calls for the resignation of Pakistan’s prime minister.

“The resignation of the prime minister is out of the question,” Dar said during a news conference.

The finance minister stressed that the PML-N was keen on electoral reforms and those seeking this should stay within the limits of the constitution.

Dar said the government has no plan to devalue the currency.

Dar said presently the country's foreign exchange reserves are fourteen billion dollar.

Ishaq Dar said efforts are being made to improve the taxation system. He said that budget deficit has been reduced from 8.8 to 8.2 percent.

The Finance Minister said all major international financial institutions are willing to work with Pakistan.

Answering a question, he said that foreign remittances were registered as 15.83 billion dollars with an increase of 7.13 percent.

He said that performance of private sector has improved while four thousand five hundred eighty seven companies were registered in corporate sector.

For more stories on investments and markets, please see HispanicBusiness' Finance Channel

Source: Frontier Star (Pakistan)

Story Tools Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters