Category: Business

FAISALABAD: Businessmen attached with the textile sector have urged the government for restoration of the zero-rated facility for the sector if it cannot release billion of rupees sales tax refunds as the industry is dying due to financial crunch. Pakistan Hosiery Manufactures & Exporters Association (PHMA) central chairman Haji Salamat Ali criticised the Federal Board […]

Analysts provided wide valuation estimates for Saudi Aramco, ranging between $1.2 trillion and $2.3 trillion, fund managers who have seen research notes said, as the oil giant kick-started its initial public offering (IPO) on the local bourse. Bank analysts started showing IPO research to fund managers soon after Aramco, the world’s most profitable company, on […]

021Disrupt, Pakistan’s premier technology and entrepreneurship conference by The Nest I/O begins today in Karachi at the Pearl Continental. Into its third year, the two-day conference aims to stir conversations that strengthen the Pakistani ecosystem by hosting 1000+ disruptors, who are entrepreneurs, investors, influencers, mentors, and professionals. This year’s edition will be hosting: 65+ speakers from […]

KARACHI: State Bank of Pakistan Governor Reza Baqir launched the National Payment Systems Strategy (NPSS) on Friday. Speaking to a gathering, which included World Bank President David Robert Malpass, Baqir said “this strategy lays out a road map and action plan for Pakistan to have a modern and robust digital payments network.” He continued that […]

ISLAMABAD: The Intern­ational Monetary Fund (IMF) on Friday asked Pakistan’s federal and provincial authorities to introduce a single tax base and make full use of development funds as ‘stimulus’ to revive economic growth it estimated to be one of the lowest at 2.4pc for the current fiscal year. An IMF team led by Mission Chief […]

Over the first four months of fiscal year 2019-20, the country’s trade deficit decreased significantly by 33.5 per cent, a report by the Ministry of Commerce revealed on Saturday. Trade deficit fell from $11.7 billion recorded from July-October of FY18-19 to $7.8bn during the same period this year. The decrease in trade deficit can largely […]

The Securities and Exchange Commission of Pakistan (SECP) on Saturday notified the corporate restructuring companies rules, 2019. “The enactment of rules provided institutional arrangements and legal processes for the revival and rehabilitation of potentially viable companies,” a press release issued by the regulator said, adding that the rules were notified with the approval of the […]

British Prime Minister Boris Johnson’s office has defended his Brexit deal with the EU, after US President Donald Trump warned it would make it impossible for the two nations to strike a future trade agreement. The president, whose impeachment in the US has moved a stage closer following a key vote in Congress, waded into […]

ISLAMABAD: Amid ongoing review meetings with the International Monetary Fund (IMF), the country’s revenue shortfall continued to expand rather dramatically in October as the government extended the deadline for filing of tax returns for another month. Senior officials at the Federal Board of Revenue (FBR) said the provisional revenue collection in first four months of […]

ISLAMABAD: World Bank Group President David R. Malpass on Thursday said the reforms carried out by Pakistan for ease of doing business would help create jobs, attract investment and generate more tax revenue. Malpass acknowledged the efforts taken by the government to improve its ranking on the Ease of Doing Business index. “Your country jumped […]