KARACHI: A fresh wave of food inflation coupled with increase in compressed natural gas (CNG) prices has increased inflationary pressures on consumers. Moreover, the aftershocks from the persistent decline in rupee’s value are also likely to take their toll consumer’s buying power in the coming months. Some CNG outlets have also started charging Rs107 per […]
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KARACHI: The debate on the provincial budget began in the Sindh Assembly on Monday, which was a rare quiet day since the opposition sat on their benches patiently despite rejection of their resolution by Speaker Agha Siraj Durrani, who did it on the grounds that no other business could be taken up during discussion on […]
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MUZAFFARABAD: Azad Jammu and Kashmir (AJK) budget for next fiscal year will be presented before the Legislative Assembly today (Tuesday). Talking to Dawn on Monday, sources said that with a total outlay of Rs1,21.5 billion, the budget proposes Rs 97bn for recurring expenditures and Rs 24.56bn for developmental activities. The budget speech would be delivered […]
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ISLAMABAD: Though the government has decided in principle to sell-off Pakistan Steel Mills (PSM), the Cabinet Committee on Privatisation (CCOP) at its meeting on Monday could not decide on enlisting the PSM on the privatisation agenda since the Ministry of Industries and Production (MoIP) failed to submit its proposal, informed sources told Dawn. Last month, […]
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The PTI administration has proposed a budget for the next fiscal year that is designed to contract the economy, targeting a growth rate of 2.4pc — the slowest pace at which the economy will expand in a decade — to put it back on the road to stabilisation. For many, even this low growth rate […]
CLICK HERE TO READ MOREAs growth in agriculture sector tanked to 0.85pc in the current fiscal year against the target of 3.8pc, the PTI government plans to spend Rs280bn on this sector during its five-year term. The purpose is to help recover growth in agriculture with the help of provinces in whose administrative domain it falls. In the outgoing […]
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Boeing executives apologised on Monday to airlines and families of victims of 737 Max crashes in Indonesia and Ethiopia, as the US plane maker struggles to regain trust of regulators, pilots and the global travelling public. Kevin McAllister, CEO of Boeing’s commercial aircraft, told reporters at the Paris Air Show on Monday that “we are very […]
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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 […]
CLICK HERE TO READ MORESince the government borrowing from the central bank is inflationary, the PTI government “will no longer utilise this facility from July 1, 2019,” State Minister for Revenue Hammad Azhar announced in his budget speech on June 11. He also said that the government’s medium-term inflation target “will be in the range of 5-7pc.” The twin […]
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ISLAMABAD: The government took several facilitation measures to incentivise use of technology to boost exports from the country. Through the Finance Bill 2019, the government has reduced retention period from 10 years to 5 years of plant, machinery and equipment brought under export facilitation schemes. After this amendment, now if export-oriented units intend to dispose […]
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