Category: Business

ISLAMABAD: The government on Thursday estimated the size of Public Sector Development Programme (PSDP) at about Rs675 billion for the next fiscal year — unchanged at the slashed allocation for the current year — and the economic growth rate at 4.6 per cent as parliamentarians questioned effectiveness of the government policies to address the challenges […]

ISLAMABAD: Out of the 400 offshore bank accounts of Pakistanis involving an amount of over $1 million each, the Federal Board of Revenue has managed to recover tax in one instance only — a mere Rs170 million ($1.22m) — in the past five months. Following the Panama Leaks cases, the FBR only managed to raise […]

ISLAMABAD: The government on Thursday estimated the size of Public Sector Development Programme (PSDP) at about Rs675 billion for the next fiscal year — unchanged at the slashed allocation for the current year — and the economic growth rate at 4.6 per cent as parliamentarians questioned effectiveness of the government policies to address the challenges […]

KARACHI: Interloop Limited (INLO), the first public offer of shares for the current year, managed to raise Rs5.025 billion in the book building process held for two days (Wednesday, Thursday) making it largest private sector Initial Public Offering (IPO) of the country. The company, billed as the largest hosiery producer in Pakistan, has set out […]

ISLAMABAD: A parliamentary body on Thursday took up the issue of ‘insignificant’ research and development funds of Rs1.4 billion for the entire year out of a total budget of Rs6 trillion. “There should be a special meeting just to cry over the poor state of funding for research and development,” said Senate Standing Committee on […]

ISLAMABAD: The government will bring fundamental changes in the Federal Board of Revenue (FBR) to make it an effective tax administration for enhancing narrow tax base of the country, Minister of State for Revenue Muhammad Hammad Azhar said on Wednesday. Briefing the media about the 200-day performance of the PTI government, he acknowledged that problems […]

ISLAMABAD: Finance Minister Asad Umar on Wednesday said the rising inflation and high fiscal deficit were the country’s biggest challenges at present and sought proactive contribution of the National Assembly’s finance committee to minimise their impact and protect the most vulnerable. Testifying before the National Assembly’s Standing Committee on Finance and Revenue, the finance minister […]

ISLAMABAD: A Senate special committee on China-Pakistan Economic Corridor (CPEC) will meet here on Friday (tomorrow) to review a number of projects. The committee will also get a briefing on investments being made by Saudi Arabia and the United Arab Emirates (UAE) in Gwadar. According to the agenda of the meeting, the special committee, headed […]

The ban on the Boeing 737 MAX aircraft became worldwide after US President Donald Trump joined Canada and other countries in grounding the aircraft, and the black box flight recorders from the doomed plane were flown to France for analysis on Thursday. US authorities said that new evidence showed similarities between Sunday’s deadly crash of […]

• ML-1 reverts to EPC mode as China refuses BOT terms• Work on Balochistan road project to begin soon• List of projects in agri, health, education & other areas nears finalisation• Agreement for Rashakai Special Economic Zone by 25th• Gwadar International Airport groundbreaking by month end ISLAMABAD: The government has decided to revert to the […]