Category: Business

ISLAMABAD: Prime Min­ister Imran Khan on Thursday told the textile industry that the government was ready to resolve its genuine concerns but revi­val of zero-rating regime was no more an option in the current situation. The government has withdrawn the zero-rated reg­ime for five sectors — textile, leather, carpets, sports and surgical goods — and […]

The Federal Board of Revenue (FBR) on Friday formally launched the online FBR Tax Profiling System, enabling 53 million people to check their bank details, properties, utility bills and travel history data. FBR Chairman Shabbar Zaidi, while addressing a press conference in Islamabad, introduced the system, using which citizens can check their tax profile after paying […]

India’s government is likely to overshoot the budget deficit target previously set for the current fiscal year, three officials have warned, as a slowing economy creates a big shortfall in tax collections and prompts new stimulus plans. New Finance Minister Nirmala Sitharaman presents her first budget on July 5, for the fiscal year ending March […]

PPP stalwart Khursheed Shah on Friday launched into a comprehensive critique of the finance bill during a National Assembly sitting of the ongoing budget session. Criticising the dam fund started by former chief justice Mian Saqib Nisar, Shah said: “I told the chief justice of the time that if you are sincere, ask the government […]

ISLAMABAD: The Eco­nomic Coordination Com­mittee (ECC) of the Cabinet on Wednesday could not take decisions on continuation of subsidised power rates to industrial sector or ban on export of wheat in order to stop the increase in the price of the commodity. The meeting, presided over by PM’s Adviser on Finance and Revenue Dr Abdul […]

Pakistan has managed to garner much-needed support from three member states of the Financial Action Task Force (FATF) to avoid being placed on its blacklist, but black clouds are still hanging over it. Islamabad has been on the global money laundering watchdog’s radar since June 2018, when it was placed on a grey list for terrorist financing and […]

WASHINGTON: China’s massive Belt and Road infrastructure drive could speed up economic development and reduce poverty for dozens of developing countries, the World Bank said on Tuesday in a new report that called for deep policy reforms and more transparency for the initiative. The long-delayed report said that the Belt and Road — a string […]

ISLAMABAD: The ex­­port of services jumped by 8.08 per cent to $446.05 million in April, from $412.69m in same month last year, the Pakistan Bureau of Statis­­tics reported on Wednesday. Between July-April, the export proceeds posted a paltry growth of 1.70pc to $4.453bn year-on-year. The services sector has emerged as the main driver of economic […]

KARACHI: The current account deficit (CAD) fell to $12.678 billion in July-May FY19, decreasing by 29.27 per cent, from $17.926bn in same period last year, reported the State Bank of Pakistan on Wednesday. The primary contributor to the massive yet declining CAD was the balance of trade in goods and services which amounted to $30.056bn […]

QUETTA: Balochistan government has announced an Annual Development Plan (ADP) of Rs126 billion for 2,461 new and ongoing development projects. Finance Minister Mir Zahoor Ahmed Buledi while presenting the budget said the previous government had allocated Rs82bn for the ADP for the fiscal year 2018-19. The ADP has prioritised education, commutation, health, public health engineering, […]