Category: Business

ISLAMABAD: Amid public outcry over naan and roti (flat bread) prices, the government on Wednesday reversed increase in gas tariff for tandoors. It also imposed 10 per cent regulatory duty (RD) on cotton imports to encourage better crop output in coming season. These decisions were taken at a meeting of the Economic Coordination Committee (ECC) […]

ISLAMABAD: The government missed revenue collection target by Rs14 billion for July despite introducing several revenue and administrative measures in the Finance Act 2019. Officials said the decline came on the back of plummeting imports which contracted by 30-34 per cent in the first month of the current fiscal year. The Federal Board of Revenue […]

LAHORE/ISLAMABAD: Intensif­ying their movement against the mandatory requirement of providing CNIC for sale and purchase of goods, traders’ associations from across the country have announced a four-day shutter down after Eidul Azha. “We have been left with no option but to observe countrywide shutter down strikes in two phases in August. In first phase, we […]

KARACHI: The KSE-100 index recovered 280.36 points (0.89 per cent) and settled at 31,938.48 on the last day of July. Stocks rebounded after a fall in the early hours of trading. Across the board positivity was attributed by market watchers to expectations of timid inflation and reversal of SBP’s policy rate in the short run. […]

KARACHI: The government raised Rs886.849 billion through auction of treasury bills held on Wednesday but was unable to meet the target set. The auction of treasury papers was held for three-, six- and 12-month tenures with investors noticeably interested in the short-term bills. The target of Rs1.5 trillion indicates the growing need for borrowing from […]

A day after Prime Minister Imran Khan ordered to bring down prices of naan and roti to their previous rates throughout the country, the Economic Coordination Committee (ECC) on Wednesday reverted the gas tariff for non-commercial tandoors to the pre-June 30 level. Adviser to Prime Minister on Finance Hafeez Shaikh chaired the meeting and approved measures to bring down the prices. The decision […]

Former finance minister and PTI leader Asad Umar on Tuesday said that according to his assessment inflation rates would peak in the next two to four months. While on Geo News’ programme ‘Aaj Shahzeb Khanzada Kay Saath’, Umar said that after the two to four-month period, slowly the inflation rate would start going down. He said that this […]

The International Finance Corporation (IFC), a sister organisation of the World Bank, will be investing $2.5 million in Sarmayacar — a venture capital firm for tech startups — in order to “boost entrepreneurship and spur economic growth” in Pakistan, a press statement said. “The early stage of local venture capital ecosystems is often the most crucial building […]

WASHINGTON: The United States and Pakistan can further enhance bilateral trade if strategic ties between the two countries continue to improve, said a White House factsheet released on Tuesday. The factsheet “Working toward Peace and Stability: Building Economic Prosperity” notes that the United States and Pakistan enjoy a strong economic partnership that benefits both countries. […]

ISLAMABAD: The Federal Board of Revenue (FBR) on Tuesday said that tax evasion via offshore accounts will be deemed as a punishable crime and those found guilty will either have to pay hefty fines or face jail time of up to three years. As per amendments introduced through Finance Act 2019, a circular issued said […]