Category: Business

ISLAMABAD: The financial support from the International Monetary Fund (IMF) and other multilaterals has lowered Pakistan’s financing risks from the coronavirus-related economic shock even though its fiscal deficit may touch double digits. “The substantial financial support from official-sector creditors reduces Pakistan’s financing risks,” said the Moody’s investors service on Thursday, adding that the fiscal stimulus […]

• Govt to send 8m anti-malaria tablets to seven countries• Approves tax exemption for construction, allied services• National Commission on Minorities reconstituted ISLAMABAD: The federal cabinet on Tuesday decided to make public the findings of an inquiry commission report on Independent Power Projects (IPPs) and order their forensic audit. The cabinet formally approved tax exemption for […]

ISLAMABAD: Pakistan Peoples Party’s parliamentary leader in the Senate Sherry Rehman assailed the federal government on Tuesday for “spreading misinformation” about debt relief and not applying formally for the G20 programme concerned. “Why has Pakistan failed to formally ask G20 for debt relief?” she asked, adding that it was alarming that the government was misleading […]

KARACHI: The country is in danger of running out of life-saving products like vaccines and insulin merely because the National Con­trol Laboratory has stopped the process of certification, according to importers and government officials. They confirmed that the position of chief federal analyst — the signing authority — was vacant since the retirement of the […]

ISLAMABAD: In what appears to be a major fallout from Covid-19, the Federal Board of Revenue (FBR) has linked the collection of the revised target of Rs3.908 trillion for 2019-20 to the resumption of economic activity in Ramazan and Eidul Fitr. The coronavirus-led slowdown and suspension of business activity have heavily hit the revenue collection, […]

US oil prices surged on Wednesday after falling below zero for the first time at the start of the week as markets drown in crude due to a virus-triggered collapse in demand. US benchmark West Texas Intermediate (WTI) for June delivery was up almost 10 per cent at $12.68 a barrel, paring gains of around 20pc […]

QUETTA: The Balochistan government has decided to give interest-free loans to people to compensate them for the losses suffered due to lockdown triggered by the coronavirus. The provincial cabinet had approved the scheme and in some districts it had already been started, Finance Secretary Noorul Haq Baloch said in a statement on Sunday. “Around 30,000 […]

ISLAMABAD: The Pakistan Peoples Party (PPP) on Sunday criticised the package announced by the government for the construction industry and termed it “a windfall profit package for property developers, dealers, speculators and tax evaders”. The president of PPP’s Sindh chapter, Nisar Khuhro, and former senator Taj Haider said in a joint statement that on the […]

ISLAMABAD: Adviser to the Prime Minister on Commerce, Textile, Industry and Investment Abdul Razak Dawood said on Sunday that the government was finalising a scheme to support small and medium enterprises (SMEs) across all sectors. “It is our endeavour to help small businesses as compared to larger ones because of their weaker financial position,” Mr […]

ISLAMABAD: Pakistan’s development spending will be further cut during the current and next fiscal years as part of a larger fiscal rearrangement to put the $6 billion Extended Fund Facility (EFF) back on track following about $1.4bn additional emergency funding by the International Monetary Fund (IMF) that provides the country a breathing space to fight […]