Category: Business

ISLAMABAD: Pakistan’s export of honey to the high-end markets is far below its potential, said Commerce Adviser Razak Dawood on Friday in a meeting with a delegation of honey producers and exporters. The country exported honey worth $6.9 million in 2018 and its major export destinations were Saudi Arabia (70.6 per cent), UAE (15.1pc) and […]

ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet on Thursday approved mechanism for payment of subsidy on account of lower gas price of $6.5 per unit to export industry and also ordered to have a proper definition of export oriented sector to avoid misuse of public funds. The ECC meeting presided over by Adviser […]

Chinese telecom giant Huawei unveiled its own operating system on Friday, as it faces the threat of losing access to Android systems amid escalating US-China trade tensions. Richard Yu, the head of Huawei’s consumer business, told a press conference in the southern city of Dongguan that the new system, called HarmonyOS or HongMeng in Chinese, would “bring […]

ISLAMABAD: The Federal Board of Revenue (FBR) on Thursday held out assurances to traders that no action will be taken against them merely on the basis of information emanating from submitting their CNICs until Sept 30. The traders had announced a shutter down strike after the FBR mandated submission of CNICs during the sale and […]

KARACHI: The benchmark KSE-100 index extended losses from Wednesday dipping 539 points (1.8 per cent) on Thursday to close at 29,783, falling below the psychological level of 30,000. The markets were affected by the ongoing political compression over the Kashmir issue with the arrest of PML-N Vice President Maryam Nawaz Sharif further fuelling uncertainty. Energy […]

ISLAMABAD: In a rather tricky move, the Federal Board of Revenue (FBR) appears to be taking advantage of lifetime token tax collection by the provinces on small cars by seeking to recover lifetime income tax from these lower middle class citizens — a sort of double jeopardy. This will mean that an owner of up […]

ISLAMABAD: The Federal Board of Revenue (FBR) has issued notices to 228 garment and boutique shops, asking them to get themselves registered with the tax department. The names of these shops were detected during scrutiny of data which showed that these outlets were not registered with the income tax and sales tax departments. FBR spokesperson […]

PESHAWAR: Resident Representative of the International Monetary Fund (IMF) in Pakistan Teresa Daban Sanchez has said the failure to get out of the grey list by the Financial Action Task Force could have implications for capital inflows to Pakistan and also jeopardise financing assurances under the programme. Addressing a seminar on ‘IMF Extended Fund Facility […]

ISLAMABAD: The Asian Development Bank (ADB) on Wednesday signed a $500 million loan agreement with Pakistan to support first phase of the Trade and Competitiveness Programme in the country. The loan agreement was signed by Economic Affairs Division Secretary Noor Ahmed and ADB’s Country Director Xiaohong Yang. Minister for Economic Affairs Muhammad Hammad Azhar witnessed […]

ISLAMABAD: Prime Minister’s Adviser on Commerce, Textile, Industries and Production and Investment Abdul Razzak Dawood has said that Pakistan and Afghanistan have agreed to start the process of Preferential Trade Agreement (PTA) to boost bilateral trade to an unprecedented level. He said at the first instances both sides will share their initial list of tariff […]