Category: Business

ISLAMABAD: A new report of the World Bank says Pakistan gets a poor economic return from its significant water resources, observing that the best use of water endowment is not made in the country. The economic costs from poor water and sanitation, floods and droughts are conservatively estimated to be four per cent of the […]

BEIJING: Large-scale commercial use of self-driving technologies could become a reality sooner than expected, as tech companies are promoting their use in public service sectors. Last year, Chinese internet search giant Baidu Inc launched seven autonomous urban maintenance vehicles in partnership with Beijing Environmental Equipment Co, a subsidiary of Beijing Environmental Hygiene Group. “By leveraging […]

RAWALPINDI: The Rawalpindi Chamber of Commerce and Industry (RCCI) on Friday termed the supplementary finance bill 2019 business friendly. “It will offer incentives to Small Medium Enterprises (SMEs), industry, agriculture and capital market that will set the direction of the economy,” RCCI President Malik Shahid Saleem said in a press release. He said that despite economic […]

LAHORE: A crucial meeting of the Dasu Hydropower Project’s Steering Committee was postponed again for a second time, delaying discussion and finalisation of the already tardy land acquisition and compensation to people to be affected by the project under a recent and jointly agreed formula. The meeting was first tentatively scheduled to be held on January […]

ISLAMABAD: Minister of State for Revenue Hammad Azhar has said the government is working towards implementing a direct taxation regime while gradually curtailing indirect taxes. He said this while speaking at a seminar on “Economic Reforms: Way forward”, organised by the Sustainable Development Policy Institute (SDPI) on Friday. The state minister highlighted that the supplementary […]

KARACHI: The government borrowing from the central bank jumped by almost four times during the first seven months of the fiscal year (up to Jan 18) compared to the same period last fiscal year. The State Bank of Pakistan (SBP) on Friday reported that the federal government borrowed Rs3.98 trillion during the period under review […]

WASHINGTON: Washington and Beijing are “miles and miles” from resolving their trade war, US Commerce Secretary Wilbur Ross said on Thursday. A high-level Chinese delegation is due in Washington next week for talks to resolve the dispute by March 1, when US duty rates on Chinese imports are due to rise sharply, but Ross tried to […]

ISLAMABAD: The Supreme Court has highlighted that the Board of Directors (BoD) of the national flag carrier — Pakistan International Airlines (PIA) — should act independently, transparently and in an impartial and unbiased manner while selecting the best and most suitable candidate for the coveted post of the airline’s chief executive officer (CEO). “BoD is […]

KARACHI: Honda Atlas Cars Pakistan (HCAR) has found itself in a tricky spot following government’s decision to allow non-filers to purchase 1,300cc vehicles since it only manufactures vehicles of and above 1,339cc. The Japanese automaker assembles 1,339cc and 1,500cc City variants, 1,500cc BR-V and 1,800cc Civic models. Vice President HCAR Maqsood-ur-Rahmani has asked the finance […]

ISLAMABAD: Withdrawing critical taxes on capital market and ban on purchase of vehicles by non-filers of income tax returns and facilitating industry, agriculture and small and medium enterprises (SMEs), the PTI government announced on Wednesday the second supplementary budget in almost four months with overall net revenue loss of Rs6.8 billion. Finance Minister Asad Umar delivered his […]