Miftah Ismail takes oath as Pakistan’s new Finance Minister

Miftah Ismail. (Photo courtesy: social media)
Updated 27 April 2018
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Miftah Ismail takes oath as Pakistan’s new Finance Minister

  • Adviser to the Prime Minister on Finance, Miftah Ismail, has now taken charge as the country’s Finance Minister hours before the government announces fiscal budget on Friday.

ISLAMABAD: Miftah Ismail took oath as Pakistan’s new federal minister for finance, on Friday, just hours before being due to announce the country’s fiscal budget for 2018-2019.

The oath ceremony was held at President House, where President Mamnoon Hussain administered the oath.
Members of the federal cabinet, politicians and senior government official attended the ceremony.
Before taking up his new post, Ismail was an adviser to the Prime Minister on Finance, Revenue and Economic Affairs.
A member of the ruling Pakistan Muslim League (PML-N), he has served as head of Punjab Board of Investment and Trade, Chairman of Federal Board of Investment, and briefly as Chairman of the Privatization Commission.
He was director of Pakistan International Airlines (PIA) and chairman of Sui Southern Gas Company Limited (SSGL).
Ismail has also worked as an economist at the IMF in Washington. He graduated with a Bachelor of Science degree in economics and mathematics from Duquesne University, Pittsburgh, in the United States. He has a master’s as well as a doctorate in public finance and political economy from the Wharton School, University of Pennsylvania.


Pakistan PM orders port reforms to cut cargo delays, boost trade and growth

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Pakistan PM orders port reforms to cut cargo delays, boost trade and growth

  • Shehbaz Sharif orders transparent auctions of abandoned cargo and separate yards to clear port backlogs
  • Government to fast-track dredging, port expansion and rail links to handle larger vessels and inland cargo

ISLAMABAD: Prime Minister Shehbaz Sharif on Wednesday ordered wide-ranging reforms at Pakistan’s ports to reduce cargo delays, cut costs for businesses and support economic growth, directing authorities to improve coordination, infrastructure and transparency across the sector.

The instructions were issued during a meeting of a private-sector working group formed to recommend port-related reforms, as the government seeks to ease bottlenecks in trade logistics and improve competitiveness.

“Our ports play an extremely important role in expanding business and driving economic growth in the country,” Sharif said, according to a statement from his office, as he directed port-linked agencies to strengthen coordination to reduce cargo dwell time and ordered a further reduction in port charges to ease the burden on the business community.

Sharif also instructed officials to introduce a transparent system for auctioning abandoned cargo, including the creation of separate yards at ports and the use of internationally reputed firms to manage the process.

He called for faster work on dredging and expanding ports to allow larger vessels to berth and ordered improvements in rail connectivity from ports to facilitate inland cargo movement.

A briefing given to the participants of the meeting highlighted work on a National Ports Master Plan was progressing, adding that a port community system had recently become operational, and fees at several ports were being reduced, including a cut of more than 50 percent in bulk cargo charges at Port Qasim.

Officials also said an electronic bidding system for auctioning abandoned cargo would be launched soon and that tenders for expansion and dredging at Karachi’s ports had already been issued.