Business

WASHINGTON: Leading global financial organisations like the World Bank (WB), Asian Development Bank (ADB), and International Finance Corporation (IFC) have pledged their support for Pakistan’s economic stabilisation efforts through structural reforms, digital transformation, and privatisation. During sideline meetings at the International Monetary Fund (IMF) and World Bank-2024 Spring Meetings in Washington DC, Federal Minister for […]

ISLAMABAD: The government has drawn up a plan to provide affordable credit facilities to small and medium-sized businesses, which are considered a vital part of the economy and provide a large number of job opportunities. The matter was taken up in a recent meeting of the cabinet while discussing the acceptance of resignation submitted by […]

ISLAMABAD: As the country heads towards negotiating another International Monetary Fund (IMF) loan programme, textile millers have called on the government to formulate export-oriented policies by reducing energy tariffs and tax rates to make the industry competitive in the global market. In a letter to Finance Minister Muhammad Aurangzeb, the All Pakistan Textile Mills Association […]

ISLAMABAD: Finance Minister Muhammad Aurangzeb on Wednesday said the government is committed to economic reform in an effort to ensure sustainable economic development in the country. The minister spoke at the JP Morgan Seminar on Pakistan’s Economic Policy Outlook. Read more: Waterways revolution: a green, blue future economy He outlined three important reform areas of taxation, […]

ISLAMABAD: Less than 50 retailers have so far voluntarily registered with the Federal Board of Revenue (FBR) and only two weeks remaining before the deadline expires, underscoring the challenges facing the government in registering all retailers in six major cities. Despite a mass campaign and Prime Minister Shehbaz Sharif’s focus on expanding the tax net […]

LAHORE: In a press statement from the Lahore Chambers of Commerce and Industry (LCCI) on Tuesday, it was asserted that Pakistan holds the potential to become an economic leader, provided key economic issues such as devaluation, industrial closures, high utility prices, inflation, and high markup rates are collectively addressed. The statement expressed concern that these […]

KARACHI: The potential escalation in the Middle East crisis pulled the rupee down to almost four-week low at Rs279.29 against the US dollar in the inter-bank market on Tuesday and sent gold to a new record high at Rs249,700 per tola (11.66 grams). According to State Bank of Pakistan’s (SBP) data, the rupee further depreciated […]

ISLAMABAD: Karachi Gateway Terminal Limited (KGTL) has planned an investment of $75 million in the multipurpose and clean bulk terminal in the initial two years to boost the terminal’s capabilities. The terminal operator aims to make the initial investment to cover upfront fees, prepayments, the cost of superstructure and equipment. Additionally, a capital injection of […]

KARACHI: Attock Cement announced on Tuesday the addition of a new production line with an installed capacity of 1.27 million tonnes per annum, expanding the country’s idle capacity at a time when construction activities have remained slow amid elevated inflation and record-high interest rates. The output capacity of the manufacturer of the Falcon brand has […]

KARACHI: Pakistan Stock Exchange (PSX) on Tuesday recorded its first decline following six consecutive positive sessions over institutional profit-taking coupled with uncertainty surrounding talks with the International Monetary Fund (IMF) for a new loan programme and geopolitical tensions. Earlier, trading commenced on a robust note, with the KSE-100 index surging to the intra-day high of […]