Category: Business

KARACHI: The foreign direct investment (FDI) dipped 50 per cent to hit a four-year low as inflows from Beijing dried out after completion of the first phase of the China-Pakistan Economic Corridor (CPEC). Data published by the State Bank of Pakistan revealed that FDI halved to $1.737 billion from $3.471 same period last year. The […]

ISLAMABAD: The Federal Board of Revenue has allowed the clearance of imported items without the condition of printing retail price or affixing stickers to avoid blockage of imports and congestion at the ports. A sales tax general order issued on Monday said that the clearance of imported items under the third schedule will be subject […]

ISLAMABAD: The Federal Board of Revenue (FBR) has requested the Ministry of Power to refuse utility connections to income tax non-filers. FBR Chairman Shabbar Zaidi in a letter to power minister has sought its help for the implementation of Section 181AA of Income Tax Ordinance, 2001, which stipulates that any application for commercial or industrial […]

A test of the PTI government and its budget policies began on Saturday as traders all over the country answered a nationwide call to strike in protest against a drive by revenue authorities to document commercial activity in the country. The call for the shutter-down strike was given by various traders’ bodies around the country, […]

ISLAMABAD: The Federal Board of Revenue (FBR) has almost finalised its strategy to bring all sectors in the tax net, but it will not take any decision that will affect the industry and business in the country. The remarks came from FBR chairman Shabbar Zaidi at a news conference on Friday amid looming tension over […]

ISLAMABAD: Leading Chinese companies on Friday assured Prime Minister Imran Khan that they would invest $5 billion in different sectors in Pakistan in the next three to five years. The assurance was extended to the prime minister by a Chinese delegation, comprising more than 55 executives and heads of leading Chinese companies, during a meeting […]

ISLAMABAD: Pakistan and Afghanistan on Friday resumed talks to iron out differences in the way of transit treaty after a three-year hiatus. Talks between the two neighbours had collapsed in September 2015 after Kabul insisted on including India in transit treaty negotiations and the trilateral trade agreement involving Pakistan, Afghanistan and Tajikistan. The turnaround came […]

ISLAMABAD: The Planning Commission and the World Bank on Friday expressed concern over delays in various projects and consented to remove bottlenecks and expedite approval process at their respective ends. The World Bank financial support is expected to be one of the key areas on the sidelines of the upcoming visit of Prime Minister Imran […]

KARACHI: Stocks tumbled on Friday with the KSE-100 index taking a dip of 202.91 points (0.60 per cent) and settle at 33,672.49. The market was rattled by higher interest rates likely to be announced in the State Bank monetary policy which would be announced sooner than expected on July 16 instead of the month end. […]

ISLAMABAD: Criticising the overvalued domestic currency in the past as taxing exports and subsidising imports, Governor State Bank of Pakistan Reza Baqir on Thursday said the exchange rate policy has now started reflecting the demand-supply gap of foreign exchange inflows and outflows. Speaking at a function with visiting World Economic Forum (WEF) President Borge Brende, […]