Category: Business

ISLAMABAD: The Natio­nal Assembly Standing Committee on National Food Security and Research on Thursday expressed its complete dissatisfaction over the government policies relating to the agriculture sector. The committee, led by its chairman Rao Ajmal Khan, further asked the Ministry of National Food Security and Research (MNFSR) to come up with proposals for the revival […]

ISLAMABAD: Moody’s Investor Service — a New York-based rating agency — on Thursday said that Pakistan’s inability to comply with the global standards on anti-money laundering and terror financing was a credit negative for its leading banks. “Pakistan’s continued presence on list of jurisdictions under increased monitoring — commonly known as grey list of the […]

ISLAMABAD: The International Monetary Fund (IMF) on Thursday said it had reached a staff-level agreement with Pakistan authorities “on policies and reforms needed to complete the second review” of the $6bn Extended Fund Facility (EFF). The announcement was made by Ernesto Ramirez Rigo, Mission Chief for Pakistan, through a brief statement after a series of […]

ISLAMABAD: A parliamentary panel led by treasury member Faiz Ullah on Thursday deferred discussions on five key government bills and linked its approval to personal appearance of Finance Adviser Dr Abdul Hafeez Shaikh. The National Assembly’s Standing Committee on Finance, presided over by PTI MNA from Faisalabad Faiz Ulla, also called upon State Bank of […]

Coronavirus panic sent world share markets skidding again on Friday, compounding their worst crash since the 2008 global financial crisis and pushing the week’s wipeout in value terms to $5 trillion. The rout showed no signs of slowing as Europe’s main markets slumped 3-5 per cent and the ongoing dive for safety sent yields on […]

ISLAMABAD: Highlighting six key reasons behind a massive revenue shortfall in first half of the current fiscal year, Ministry of Finance has credited the offices of President and Prime Minister for leading the austerity drive by example. It reported six major reasons behind the shortfall including unprecedented compression in imports, lower consumption of petroleum products, […]

KARACHI: Businessmen and industrialists are not placing fresh orders for imports amid fears around the coronavirus which has claimed lives of over 2,500 people. This has impacted the clearance of goods at Chinese ports while no issues are being encountered at the local ports. Industrialists are also trying to manage raw materials from other countries […]

ISLAMABAD: Prime Minister Imran Khan on Tuesday said the previous year was challenging in terms of stabilising the economy but since achieving stabilisation, the government is now focusing on socioeconomic growth. Meeting a delegation of foreign investors — led by Head of Strategist FIM Partners Matthew Vogei which called on him here at the PM […]

ISLAMABAD: The Federal Board of Revenue (FBR) will implement rules in three areas in the next few days as part of compliance with recommendations of the Financial Action Task Force (FATF) regarding anti-money laundering and combating financing of terrorism (AML/CFT) in Pakistan. The rules will cover real estate, gems and jewellery sectors to minimise chances […]

A sea of red washed across Asian markets on Wednesday, with the coronavirus spreading rapidly around the world and health chiefs warning that governments were not prepared for the outbreak. The heavy selling, after a day of relative calm caused by bargain-buying, followed another rout on Wall Street where all three main indexes lost around […]