Category: Business

ISLAMABAD: The traders of Rawalpindi and Islamabad will join the rest of the country in observing a shutter-down strike on July 13 against taxation measures adopted in the 2019-20 budget. Unlike similar occasions in the recent past, all groups in the retail sector have unanimously decided to strike and a consensus has been reached among […]

The amount of foreign currency travellers leaving Pakistan can carry without having to declare it has been capped by the age of the traveler, a new advisory issued by the Federal Board of Revenue (FBR) says. According to the FBR advisory, issued on Tuesday, travellers aged less than 5 years can carry $1,000 (or an […]

Pakistan has received the first tranche of $991.4 million of the $6 billion bailout package International Monetary Fund (IMF) bailout, the chief spokesperson for the State Bank of Pakistan said on Wednesday. This is equivalent to a special drawing right (SDR) of $716 million. An SDR is an IMF unit for a financial transaction, which […]

ISLAMABAD: The project to set up a third LNG terminal may be running out of steam as investor interest wanes and the deadline for commencement of work draws near. The government originally wanted the project up and running in time to meet the demand projected for winter of 2020, but that timeline is now looking […]

ISLAMABAD: Pakistan will export 100,000 bags of rice to Qatar as part of the government initiative to enhance overall rice exports from the country. With the continuous efforts of the government, Qatar has now opened its market for Pakistani rice. Previously, Pakistan rice was not being procured by the state procurement agency of Qatar. An […]

Indian shares edged lower on Wednesday amid renewed concerns over trade tension between the United States and India, with Tata Motors and Tata Consultancy Services dragging the index lower. The benchmark BSE index was down 0.14 per cent at 38,677.56 at 0515 GMT, while the broader NSE index was 0.15pc lower at 11,537.85. “The US-India […]

ISLAMABAD: Commerce, Industries and Production Adviser Abdul Razak Dawood on Tuesday hinted that the prices of fertiliser could rise by Rs100 per bag due to increase in the gas rates. Addressing a press conference, the adviser said the fertiliser sector had demanded an increase of Rs200 per bag but this was not acceptable to the […]

KARACHI: Pakistan has agreed to eliminate regulatory duties on imports to support balance of payments, details of the $6 billion-International Monetary Fund (IMF) agreement revealed on Monday. “The authorities are committed to eliminating the existing administrative restrictions, which have been imposed to support the balance of payments,” said the document. The government has also agreed […]

• China is now Pakistan’s largest creditor• Sharp revenue increases to continue for three years• Utility rates to be adjusted every quarter, power tariff hike in August• Fund wants full FATF compliance ISLAMABAD: Pakistan has entered a high tax environment for the foreseeable future with Rs1.56 trillion additional taxes this year, followed by another Rs1.5tr […]

Former minister of state for revenue Hammad Azhar has been elevated to the post of Federal Minister for Revenue Division, according to a notification issued by the Cabinet Division. As per the notification dated July 8, President Arif Alvi administered the oath to Azhar for his new post yesterday. Azhar will no longer hold the […]