Category: Business

• Growth crashes into negative territory• Public debt increases to 88pc of GDP• FBR revenues to take Rs800bn hit ISLAMABAD: The data released by the government presented a dismal economic performance as all indictors painted broad-based setbacks and Adviser to the Prime Minister on Finance and Revenue Dr Abdul Hafeez Shaikh blamed Covid-19 for a […]

ISLAMABAD: The government decided to reduce customs duty on approximately 2,000 tariff lines in the FY2020-21 budget to reduce the cost of doing business, documents seen by Dawn showed on Tuesday. The Tariff Policy Board (TPB), led by Adviser to PM on Commerce Abdul Razak Dawood decided the changes in the duty structure on these […]

ISLAMABAD: The government on Tuesday lifted the ban on exports of seven products classified as personal protective equipment (PPE) in a bid to allow manufacturers to honour international orders. The decision, taken by the National Command and Operation Centre of the Na­­t­ional Coordination Com­mittee on June 8, will allow exports of disposable gowns, dis­­­­posable gloves, […]

ISLAMABAD: An agreement seems to have been reached to freeze the size and expenditures of the federal government in budget 2021, which is set to be announced on June 12. The decision has been made to keep the International Monetary Fund (IMF) programme on track. Informed sources told Dawn that the government’s economic team held a final […]

ISLAMABAD: In a rapidly evolving situation, the Petroleum Division on Tuesday moved another summary for immediate switching of fuel pricing to quarterly basis, with immediate effect from June 16 with the first price increase of about Rs9-10 per litre. The fresh move was launched on a day the federal cabinet took notice of fuel shortage […]

The Paris Club of creditor nations have agreed to suspend debt service payments from Pakistan, Chad, Ethiopia and the Republic of Congo as part of a G20 debt relief deal, the group said. The latest agreements bring to 12 the number of countries to receive debt relief under the deal with a total of $1.1 […]

KARACHI: The strained-relations between Pakistan People’s Party government in Sindh and federal government of Pakistan Tehreek-i-Insaf are likely to get worse over the planned privatisation of the Pakistan Steel Mills (PSM) as the provincial administration on Sunday claimed that it owned the land worth billions of rupees of the industrial giant and Islamabad couldn’t make […]

KARACHI: Pakistan Peoples Party chairman Bilawal Bhutto-Zardari has stressed for assigning priorities to health and agriculture sectors in the next Sindh budget 2020-21 as fighting coronavirus and locust attacks shall be the top-most agenda to save human lives and avert famine and food insecurity. Mr Bhutto-Zardari was given a briefing through a video link by […]

ISLAMABAD: The federal government on Sunday decided to allow wheat import by the private sector without any restriction of limit and abolished 60 per cent regulatory duty on the import of wheat — the major staple food crop in Pakistan. A meeting chaired by Prime Minister Imran Khan also decided to abolish six per cent […]

• PM’s aide says govt will take on all mafias• NAB, FIA, others tasked to take legal actions• PML-N slams PTI for helping Tareen leave the country ISLAMABAD: Prime Minister Imran Khan on Sunday approved massive investigations through various accountability organisations for taking action against the ‘sugar cartel’ allegedly involved in a multibillion rupee scam for […]