Category: Business

ISLAMABAD: After a delay of more than two years, the Federal Board of Revenue (FBR) on Monday announced that the Benami Act will become operational from Feb 8 onwards allowing government to confiscate properties and bank accounts registered with fictitious individuals. “We have drafted rules for the implementation of the much-awaited Benami Act and forwarded […]

Pakistan’s currency has cumulatively lost about 25 per cent of its value against the dollar since the beginning of 2018. Gas and electricity prices for the five export industries have been brought down to the level of average regional prices and textile exporters are now able to import duty-free cotton. The government is also working […]

FIGURES released by the State Bank of Pakistan (SBP) last week showed a 40 per cent slump in profits and dividends repatriated on Foreign Direct Investment (FDI) in the first half of the financial year (July-Dec 2018). There could be numerous reasons for this slowdown. FDI has fallen to$628.8 million in 1HFY19 against $1,055.4m in […]

LONDON: Japanese car manufacturer Nissan announced on Sunday it was cancelling plans to build its X-Trail SUV at its plant in northeast England despite Brexit assurances from the government. “While we have taken this decision for business reasons, the continued uncertainty around the UK’s future relationship with the EU is not helping companies like ours […]

The State Bank of Pakistan (SBP) is not upbeat about the prospects of agricultural growth during the current fiscal year. Its first quarterly report acknowledges all the issues that the farmers’ lobby has been highlighting right from the beginning of the year. Severe water shortages in Sindh that created a drought-like situation in some areas, […]

THE provinces are not inclined to lay their cards on the table at this point as they are probably still in the process of articulating their stance on the vertical and horizontal sharing of resources and the special separate pool for security and other needs. The marathon meetings for the eighth National Finance Commission (NFC) […]

This is not the time for keeping interest rates stable. The State Bank of Pakistan (SBP) has given its verdict against the government’s desire for — and most analysts’ predictions about — no interest rate hike. The SBP has raised its policy rate by 25 basis points to 10.25pc for February and March. At a […]

ISLAMABAD: The government is expected to offer a series of incentives to ensure the success of Special Economic Zones (SEZs) and mobilise overseas Pakistanis to invest in Pakistan. A meeting of the Economic Coordination Committee (ECC) of the cabinet has been summoned on Monday (today) to discuss a two-point agenda: challenges faced by the existing […]

KARACHI: Overseas investors’ confidence has seen a sharp decline in July-Dec 2018 due to change in economic landscape with pressures on the balance of payments front, depreciating rupee, rising interest rates and subsequent inflationary pressures dampening investor sentiment. The findings of the business confidence survey (BCS), conducted by the Overseas Investors Chambers of Commerce and […]

ISLAMABAD: A Mala­ysia-based company has pledged to make $250 million investment in the telecommunication sector in Pakistan during next five years. Malaysia’s Edotco Group chairman of the board of directors, Datuk Azzat Kamaluddin, made this commitment during a meeting with Prime Minister Imran Khan along with a delegation at Prime Minister Office (PMO) on Friday. […]