Category: Business

ISLAMABAD: Influenced by faster rupee depreciation and demand pressure, inflation resurged to 7.2 per cent year-on-year in January, undermining earlier gains, according to data released by the Pakistan Bureau of Statistics (PBS) on Friday. The country’s inflation has now crossed the four-year high of 6.78pc recorded in October last year — the period when global […]

The Federal Board of Revenue (FBR) on Friday issued a flurry of notifications regarding upward revisions in the valuation rates of immovable property in 20 major cities of the country. The average increase in valuations is around 20 per cent, but some areas have seen a much sharper revision in taxable rates. The new rates, which […]

ISLAMABAD: The government’s battle against bloated trade deficit is finally bearing fruit, driven primarily by a consistent fall in international oil prices, according to the Prime Minister’s Adviser on Commerce and Industry Abdul Razak Dawood. Speaking to media personnel at the Pakistan Secretariat, he said that the import bill is likely to contract in line […]

BRUSSELS: Google, Face­book, Twitter and Mozilla must do more to combat fake news as Europeans head tow­ards an election or the companies will face the threat of re­­gulatory action, the Euro­pe­­an Commission said on Tuesday. Companies and trade bodies representing the advertising industry signed up to a voluntary code of conduct in October to ward […]

ISLAMABAD: The federal government has proposed to eliminate taxes associated with manufacturing of solar and wind energy equipment in the country, in an effort to boost the production and use of renewable power and overcome power shortages. A new government bill, expected to be approved in parliament within a month, would give renewable energy manufacturers […]

ISLAMABAD: Encouraged by attractive bids, the government on Tuesday allowed additional wheat exports of 500,000 tonnes and gave a go-ahead to raise Rs200 billion funds from Islamic banks for partial cash settlement of the circular debt now well above Rs1.415 trillion. The decisions were taken at a meeting of the Economic Coordination Com­mittee (ECC) of […]

PESHAWAR: The federal government is set to pay the Khyber Pakhtunkhwa government Rs40 billion from the province’s Rs65 billion share in net profit and its arrears projected for the current fiscal, officials said. A senior official of the finance department told Dawn that the payment was likely to reach the province next month. He said […]

ISLAMABAD: Lack of policy and regulatory framework has led to the mushroom growth of real estate projects across the country, the Competition Commission of Pakistan (CCP) observed in its report. “The existing legal framework has failed to maintain a vigilant and a system of proper check and balance in this sector, which has resulted in […]

SIALKOT: Federal Mini­ster for Finance, Revenue and Economic Affairs Asad Umar has assured full support and patronage to the business community to ensure economic growth and increase exports. He said this while addressing a meeting of the Sialkot Chamber of Commerce and Industry on Monday. He said that the government is making durable efforts to […]

WASHINGTON: The five-week government shutdown subtracted $11 billion from the US economy, about twice the amount President Donald Trump sought to fund a border wall, an independent congressional body said on Monday. However, all but $3bn, or 0.02 per cent of GDP, will eventually be recovered as the government resumes operations, the non-partisan Congressional Budget […]