PM’s education reform programme needs additional Rs1bn

ISLAMABAD: The Prime Minister’s Education Reform Programme launched in 2016 for repair and maintenance of schools in Islamabad is facing a delay and according to a revised PC-1 requires an additional amount of Rs1 billion for completion. The project, a brainchild of former Prime Minister Nawaz Sharif, was to complete in two phases. It was […]

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Ogra asked to keep room for higher levy in oil prices

ISLAMABAD: The government is expected to pass on partial benefit of reduction in the prices of petroleum products to consumers to mop up additional revenues during the month of June. In this regard, the Ministry of Finance has asked the Oil & Gas Regulatory Authority (Ogra) to formulate its summary for revision in oil prices […]

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Sindh CM to review suggestions for reopening local businesses

KARACHI: Sindh Chief Minister Syed Murad Ali Shah on Thursday called a meeting to review suggestions from trade bodies to reopen local industries, businesses and restaurants. The CM met with a business delegation led by Businessmen Group Chairman Siraj Kassam Teli including representatives from the Karachi Chamber of Commerce and Industry, Federation of Pakistan Chambers […]

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Private sector sputters, fiscal balance improves in latest data

ISLAMABAD: Latest data released in the run up to the budget shows private sector activity dropped sharply in the first ten months of the fiscal year, while the primary balance of the government improved, posting a surplus over last year’s deficit. Almost all the indicators that reflect private sector confidence showed steep declines, from demand […]

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FBR directed to simplify tax laws

ISLAMABAD: Ministry of Finance dropped several tax proposals recommended by the Federal Board of Revenue (FBR) while directing the apex trade body to focus on simplification of tax laws, procedures and removing anomalies in the budget for the next fiscal year, Dawn has learnt from knowledgeable sources. The FBR had proposed taxing few sectors to raise revenue […]

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$500m AIIB loan to mitigate Covid-19 impact

ISLAMABAD: The Asian Infrastructure Investment Bank (AIIB) will provide budgetary support worth $500 million to Pakistan to mitigate the significant negative economic and social impacts caused by Covid-19, it was learnt here on Tuesday. Supported under the ‘Covid-19 Crisis Recovery Facility’, the AIIB loan for the government’s health sector and counter-cyclical development expenditure programme will […]

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‘Lack of geo-spatial zoning hampers agricultural productivity’

ISLAMABAD: The country’s agriculture production is suffering due to lack of rapid decision-making and planning by the relevant authorities, found a joint study conducted by the Pakistan Agriculture Research Council (PARC) and the International Maize and Wheat Improvement Centre (CIMMYT). The ‘Cropping pattern zonation of Pakistan’ goes on to add that despite the regular updating […]

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New tariff policy to reduce duties, says Razak

ISLAMABAD: With eyes fixed on the upcoming budget, the Ministry of Commerce has evolved a comprehensive tariff policy including reducing customs and regulatory duties on raw materials and semi-finished products. The plan is being developed for budget 2020-21 in a fashion to mitigate the impact of Covid-19 and encourage import substitution of major consumer items […]

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Exporters expect fresh orders

KARACHI: Fresh orders are being anticipated by country’s exporters who say the global slowdown, due to the coronavirus pandemic and subsequent lockdown in many countries, has created space for Pakistani exports. The further added that while some export orders were cancelled, many are on hold but will resume once things normalise. Pakistan witnessed a steep […]

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