Category: Business

ISLAMABAD: The Private Power and Infrastructure Board (PPIB) has approved the issuance of tripartite letter of support (LoS) to two small hydropower projects in Azad Kashmir. The PPIB in a meeting on Monday approved 7.08MW hydropower project located at Ghori Wala Nullah in Neelum Valley and 8MW Kathai-II hydropower project at Kathai Nullah, Jhelum Valley […]

Prominent chartered accountant and former caretaker provincial minister for Sindh Syed Shabbar Zaidi was named by Prime Minister Imran Khan on Monday as his choice for the new Federal Board of Revenue (FBR) chairman. The appointment has yet to be notified, but the prime minister said it will be soon. Zaidi is a senior partner in A.F. […]

ISLAMABAD: Pakistan has substantial potential to increase tax receipts without imposing new taxes or increasing their rates. The country’s tax revenue potential would reach 26 per cent of GDP, if tax compliance were to be raised to 75 per cent, which is a realistic level of compliance for lower middle income countries. This means that […]

Amid concerns over trade disputes and challenges posed by climate change, Asian Development Bank’s (ADB) 52nd annual meeting of the board of governors concluded in Fiji on a positive note: fighting the challenges and achieving prosperity through unity. Among the issues discussed at the event were sustainable tourism and its potential to boost national and […]

ISLAMABAD: Conti­nuing its criticism over the appointments of Dr Reza Baqir of the International Monetary Fund (IMF) as new governor of the State Bank of Pakistan (SBP) and Dr Abdul Hafeez Shaikh as adviser to the prime minister on finance, the main opposition Pakistan Muslim League-Nawaz (PML-N) has feared that the country’s nuclear programme may come under […]

LONDON: British Prime Minister Theresa May on Sunday urged main opposition Labour leader Jeremy Corbyn to work with her to break the Brexit deadlock, telling him: “Let’s do a deal”. May said she understood why hardcore Brexiteers in her own centre-right Conservative Party, who want a clean break with the European Union, would wince at […]

After wheat, rice is the second most important staple of Pakistan. Through exports, it contributes significantly to the country’s exchequer. This is especially true for basmati rice which is known for its aroma and quality, and is a specialty of the country. Rice is grown in all provinces on an area of 7,164 thousand acres. […]

Imagine taking a financial position where you have to bet on the rupee devaluing against the dollar, increasing oil prices and inefficiency of the government. This is precisely the position a solar rooftop customer in Pakistan finds himself taking these days. Consider the loaded grid tariffs (including taxes, surcharges, fuel price adjustment) of a residential […]

WASHINGTON. US trade officials rejected Tesla Inc’s bid for relief from President Donald Trump’s 25-per cent tariffs on the Chinese-made Autopilot “brain” of its Model 3 and other electric vehicles, one of more than 1,000 product denials linked to China’s industrial development plans. According to documents filed by the US Trade Representative’s office (USTR) and […]

The government is set to roll out a new policy on small and medium enterprises (SMEs). But there is no official word as to when Pakistan will have a national industrial policy. Given the peculiar nature of our economy and our huge socio-economic challenges, the industrial policy must aim at exploiting agriculture and services sectors […]