Category: Business

ISLAMABAD: Khyber Pakhtunkhwa’s growers are divided over the imposition of Rs300 per kg advance tax on green tobacco as one of the groups representing the growers has claimed that the additional tax will increase farmer’s burden whereas the other pointed out that the tax has not been imposed on the growers. The division amongst growers […]

VIENNA: Major oil-producing countries meet in Vienna on July 1 and 2, the Opec website and a delegate said on Wednesday, after the biannual gathering had been postponed several times. Oil producers led by Saudi Arabia are expected to decide whether to extend production cuts, with investors welcoming the news that a date has been […]

ISLAMABAD: The country’s trade deficit during first 11 months of the current fiscal year fell by 13.62 per cent to $29.207 billion compared to $33.812bn during the same period last year. The decline in deficit comes on the back of significant fall in the country’s imports as the exports have shown no improvement from the […]

ISLAMABAD: The banks have finally shared the details of accounts having more than Rs5 million in deposits with the Federal Board of Revenue (FBR) as the tax machinery puts together multiple data sources to nab maximum tax evaders. Reporting this to the National Assembly’s Standing Committee on Finance and Revenue by FBR Chairman Shabbar Zaidi […]

ISLAMABAD: Minister for Power Division Omar Ayub Khan on Wednesday said that the government was determined to achieve revenue collection target of Rs 5,500 billion set for the financial year 2019-20. Speaking in the National Assembly during budget debate Omar Ayub said, “Under the leadership of Prime Minister Imran Khan, the government was determined to […]

Pakistan on Tuesday signed three loan agreements worth a total of $918 million with the World Bank. Adviser to the Prime Minister on Finance, Revenue and Economic Affairs Dr Abdul Hafeez Shaikh witnessed the signing of the agreement between Country Director World Bank Patchamuthu Illangovan and Economic Affairs Division Secretary Noor Ahmed. The representatives of […]

Apple Inc has asked its major suppliers to assess the cost implications of moving 15 per cent to 30pc of their production capacity from China to Southeast Asia as it prepares for a restructuring of its supply chain, according to a Nikkei Asian Review report on Wednesday. Apple’s request was a result of the extended Sino-United States […]

Pakistan on Tuesday signed three loan agreements worth a total of $918 million with the World Bank. Adviser to the Prime Minister on Finance, Revenue and Economic Affairs Dr Abdul Hafeez Shaikh witnessed the signing of the agreement between Country Director World Bank Patchamuthu Illangovan and Economic Affairs Division Secretary Noor Ahmed. The representatives of […]

State Bank of Pakistan Governor Reza Baqir at a press conference on Monday expressed confidence in the country’s economic future, and provided assurance that the “two main causes of our instability are being effectively addressed in a credible manner”. Baqir’s press conference comes days after the budget was presented in the National Assembly. In the […]

KARACHI: The stock market snapped the four-session gaining streak and reverted to the negative territory. On Monday, the KSE-100 index lost 404.13 points (1.14 per cent) and closed at 35,168.82. It wiped off minor gains of 68 points (0.19pc) that the index had accumulated the previous week as a result of market’s oversold position. The […]