Category: Business

LONDON: The European Union’s chief Brexit negotiator told Britain on Sunday that the economic damage wrought by the coronavirus crisis made it especially important the sides reach a new trade deal. EU and UK negotiators will enter a fourth and last scheduled round of talks this week that could determine if a comprehensive new agreement […]

ISLAMABAD: The Ethiopian government has sought extension in the waiver to export red kidney beans to Pakistan. Pakistan had lifted the ban on export of red kidney beans from Ethiopia for three months, which expired in March this year, but the Ethiopian government could not avail of the facility due to novel coronavirus outbreak. The […]

BANKS did well in the first quarter of 2020. And chances are their performance during the second quarter will also be OK — thanks to their aggressive investment in government debt papers and modest growth in private-sector lending. Relaxed rules for the treatment of bad loans and provisioning against them in the wake of Covid-19 […]

ISLAMABAD: The government on Sunday reduced prices of all petroleum products except High Speed Diesel (HSD) to partially pass on the impact of massive international price reduction to the masses. The revised prices will remain effective till June 30. In doing so, the government increased the rate of petroleum levy on petrol by more than […]

The Consumer Price Index (CPI) inflation rate slowed to 8.2 per cent year-on-year in May, the Pakistan Bureau of Statistics (PBS) said on Monday. The inflation rate was 8.5pc in April, and currently stands at 10.94pc for the period from July to May, 2019-20. CPI peaked in January, registering 14.56pc year-on-year. Food inflation, with a weight of […]

ISLAMABAD: The Prime Minister’s Education Reform Programme launched in 2016 for repair and maintenance of schools in Islamabad is facing a delay and according to a revised PC-1 requires an additional amount of Rs1 billion for completion. The project, a brainchild of former Prime Minister Nawaz Sharif, was to complete in two phases. It was […]

ISLAMABAD: The government is expected to pass on partial benefit of reduction in the prices of petroleum products to consumers to mop up additional revenues during the month of June. In this regard, the Ministry of Finance has asked the Oil & Gas Regulatory Authority (Ogra) to formulate its summary for revision in oil prices […]

KARACHI: Sindh Chief Minister Syed Murad Ali Shah on Thursday called a meeting to review suggestions from trade bodies to reopen local industries, businesses and restaurants. The CM met with a business delegation led by Businessmen Group Chairman Siraj Kassam Teli including representatives from the Karachi Chamber of Commerce and Industry, Federation of Pakistan Chambers […]

ISLAMABAD: Latest data released in the run up to the budget shows private sector activity dropped sharply in the first ten months of the fiscal year, while the primary balance of the government improved, posting a surplus over last year’s deficit. Almost all the indicators that reflect private sector confidence showed steep declines, from demand […]

ISLAMABAD: Ministry of Finance dropped several tax proposals recommended by the Federal Board of Revenue (FBR) while directing the apex trade body to focus on simplification of tax laws, procedures and removing anomalies in the budget for the next fiscal year, Dawn has learnt from knowledgeable sources. The FBR had proposed taxing few sectors to raise revenue […]