MN 05th Mar 2019

PSDP

 The federal government has released Rs 365.231 billion against the total allocation of Rs
675 billion under its Public Sector Development Programme (PSDP) for FY19 for various
ongoing and new schemes.
 Out of these allocations, the government has released Rs 157.5 billion for National
Highway Authority out of total allocation of Rs 185.2 billion, whereas Rs 11.9 billion have
been released for NTDC and PEPCO for which an amount of Rs 33.36 billion was
allocated.
 Railways Division received Rs 16.99 billion out of its total allocation of Rs 28.06 billion
whereas Aviation Division received Rs 0.742 billion out of total allocation of Rs 3.65
billion.
PSO

 Pakistan State Oil (PSO) announced yesterday that it has received Rs60 billion from power
sector companies, an amount that might give some relief to the country’s biggest oil
marketing company trapped with more than Rs300 billion of stuck up receivable.
 “On March 1, 2019, after close of normal business hours, Pakistan State Oil Company
Limited (PSO) received an aggregate amount of Rs60 billion as partial settlement of
receivables related to certain power sector companies,” the PSO said in a filing with the
stock exchange.
 A well-placed source said PSO’s receivables stood at around Rs312 billion as at March 1,
2019. They included approximately Rs203 billion from the power sector, Rs18 billion from
Pakistan International Airlines, Rs31 billion from the government and Rs62 billion from
the Sui Northern Gas Pipelines Limited, the source told a media outlet.
Textile

 With a view to increase the investment in the textile sector and broaden the industrial base,
the government is set to extend subsidised loan credit to textile sector up to Rs600 billion
under the Export Financing Scheme (EFS) and Long Term Financing Facility (LTFF).
 Under Export Financing Scheme (EFS), the government is to increase credit limit to Rs400
billion from Rs226 billion for textile exports and enhance the limit of Long Term Financing
Facility (LTFF) to Rs200 billion from existing Rs103 billion for investment in the textile
sector.
New Amnesty

 The Prime Minister has sought suggestions from traders community regarding a new
amnesty scheme.
 The prime minister said the government was also working on a comprehensive plan to
encourage non tax payers and informal sectors join the documented economy. In this
regard, he said he had invited the representatives of business community to give their input
and recommendations.