Category: Business

ISLAMABAD: The annual Economic and Social Survey of Asia and the Pacific 2019 titled ‘Ambitions beyond Growth’, released by the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) on Thursday, forecast Pakistan’s GDP to remain lowest in the region at 4.2 per cent in 2019 and 4pc in 2020 compared to […]

ISLAMABAD: The National Price Monitoring Committee (NPMC), in consultation with provincial governments, on Thursday decided to put in place a strong forecasting mechanism to ensure availability of essential food items for the coming three to six months. It was also decided that a regular monthly meeting of NPMC will be held to review supply and […]

ISLAMABAD: The government is planning to amend Foreign Exchange Regulations Act (Fera) 1947 to regulate outflow of funds through foreign currency accounts and local transportation of foreign exchange through greater clarity to the legal system. “The proposed amendment has been approved by the Federal Cabinet and transmitted to parliament for enactment”, said the finance ministry […]

LAHORE: The Pakistan Muslim League-Nawaz on Thursday submitted a resolution to the Punjab Assembly demanding that the federal government appoint Ishaq Dar as finance minister on contract to steer the country out of financial crisis. Filed by PML-N lawmaker Hina Pervaiz Butt, the resolution said Finance Minister Asad Umar had failed to deliver and steering […]

LAHORE: The massive increase in prices of medicines has been challenged before the Lahore High Court for being made in violation of a notification of the Drug Regulatory Authority of Pakistan (Drap). Nadeem Sarwar, a lawyer, assailed the new drug prices through a writ petition filed against federal and provincial health authorities. He states the Drap announced […]

Minister of State for Revenue Hammad Azhar on Thursday hit back at former finance minister Ishaq Dar’s criticism of the Pakistan Tehreek-i-Insaf government, questioning the absconding PML-N leader’s right to point fingers at the state of the economy when the financial crisis the country is currently mired in “was a result of his own policies”. […]

The National Price Monitoring Committee (NPMC) reported on Thursday that a recent spike in the prices of perishable goods was primarily due to seasonal variations, the impact of which is now subsiding. An NPMC meeting, chaired by Finance Minister Asad Umar and attended by members of relevant federal ministries and provincial departments, was held to […]

ISLAMABAD: Pakistan will continue to face macroeconomic challenges despite tight fiscal and monetary policies to rein in twin deficits leading to deceleration of the GDP to 3.9 per cent in the ongoing fiscal year, says the Asian Development Bank (ADB) in a report released on Wednesday. In its assessment of Pakistan’s economy in the ‘Asian […]

India’s central bank cut interest rates on Thursday, delivering a shot in the arm to Prime Minister Narendra Modi’s poll hopes a week before the start of a marathon general election. The second snip in borrowing costs this year comes as central banks around the world take a softer line on monetary policy in the […]

ISLAMABAD: Adviser to the Prime Minister on Commerce, Textile and Industries Abdul Razak Dawood on Wednesday said the 10 per cent federal excise duty (FED) on locally manufactured cars and sports utility vehicles etc with engine capacity exceeding 1,700cc would be withdrawn. Briefing the Senate Standing Committee on Industries and Production, the adviser said the […]