From foreign affairs to energy and taxes, Dar does it all!

  • Finance minister reviews arrangements for speedy implementation of K2, K3 nuclear power plants, briefs PM on China visit, WHT cut on banking transactions by half

A high level meeting chaired by Finance Minister Senator Ishaq Dar Saturday morning reviewed financial and administrative arrangements for the K2 and K3 nuclear power plants.

Senior officials of the Finance Ministry, Economic Affairs Division (EAD) and Pakistan Atomic Energy Commission (PAEC) were present in the meeting.

Addressing the meeting, the finance minister said that removing the energy shortage from the country was top priority of the government and it was pertinent that ongoing power projects were completed on priority. He said when completed K2 and K3 would prove to be very economical source of energy. He said with all necessary financial matters settled for Neelum-Jhelum project, and speedy completion of K2 and K3 now envisaged, he hoped for an improved energy scenario in future.

The ground breaking ceremony of the 2,000 MW energy plants, it may be recalled, took place in November 2013. The project is being jointly financed by China (EXIM Bank) and government of Pakistan.

The major activity of concrete pouring for the two power plants is expected to be witnessed by the prime minister in August.


Separately, Finance Minister Ishaq Dar called on Prime Minister Nawaz Sharif at Prime Minister’s House on Saturday and briefed him about his visit to China, signing of AIIB Articles of Agreement and meetings with heads of financial institutions including the Exim Bank.

The finance minister also apprised the prime minster about the agreement reached with traders associations/members of business community regarding adjustment in withholding tax from 0.6 percent to 0.3 percent and other Federal Board of Revenue (FBR) related matters.

The finance minister solicited in principle approval from the prime minister for issuance of ordinance on adjustment of withholding tax. Advice on issuance of ordinance had been sent to the president and it was scheduled to come into force with effect from Saturday July 11, 2015 after his approval.