Business News
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Telecom player demands WHT abolition | The Express Tribune
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[ad_1] ISLAMABAD: A major mobile services industry player has urged the government to consider abolishing the withholding tax (WHT) on telecom sector in the upcoming budget for fiscal year 2023-24. Highlighting the exorbitant taxes of 34.5% on telecom users, Jazz CEO Aamir Ibrahim emphasised that the withdrawal of WHT would promote the affordability of mobile…
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Stocks fall below 41,000 amid dull trading | The Express Tribune
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[ad_1] KARACHI: Pakistan Stock Exchange (PSX) on Friday witnessed a lacklustre trading session as investors refrained from taking fresh positions and the KSE-100 index closed below the 41,000-point mark with marginal losses. Investors kept a low profile and remained under pressure owing to multiple developments. Jittery players mainly stayed on sidelines in the first half…
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High power tariffs exceeding consumers’ affordability, impacting consumption patterns: study
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[ad_1] A technician from Karachi Electric , Pakistan’s largest city’s power supply company, checks electricity meters at a residential building in Karachi, on May 13, 2010. — AFP A recent study, conducted by the Institute of Policy Studies in Islamabad, found that the rising electricity prices are stretching consumers’ affordability to a breaking point and impacting…
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In meeting with US envoy, Dar assures completing IMF programme
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[ad_1] US Ambassador to Pakistan Donald Blome calls on Finance Minister Ishaq Dar on May 26, 2023. — Finance Division. As the cash-strapped nation is making last-ditch efforts to revive the stalled Extended Fund Facility (EFF) programme, Finance Minister Ishaq Dar on Friday assured the US Ambassador to Pakistan Donald Blome of Islamabad’s commitment to…
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Russian oil: Will petrol price in Pakistan drop by Rs100 after import?
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[ad_1] A person fills their car’s tank at a fuel station in this undated file image. — AFP After months of hype, Pakistan may finally receive its first shipment of imported Russian oil later this month. But the majority of Pakistanis have one question, will the purportedly cheaper Russian oil reduce the fuel price in…
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PM asks exporters to think of innovative ideas for boosting exports
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[ad_1] Prime Minister Shehbaz Sharif at the inaugural ceremony of the Textile Expo in Karachi on May 26, 2023. — Twitter/@GovtofPakistan KARACHI: Prime Minister Shehbaz Sharif Friday advised the country’s exporters to come up with innovative and unique ideas to boost exports to help the country earn valuable foreign exchanges. “Despite various challenges, we have…
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0.3% economic growth rate debunked | The Express Tribune
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[ad_1] ISLAMABAD: The size of Pakistan’s economy has shrunk to $341.5 billion and its per capita income has slipped to just $1,568 in the outgoing fiscal year due to almost flat economic growth and currency devaluation. Against this backdrop, a dispute has arisen about the official GDP growth figure. The economy shrank by $34 billion…
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Nepra raises power tariff by Re0.79 per unit for May as FCA
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[ad_1] A utility company employee fixes electricity lines at Multan’s Hassan Parwana Road on June 5, 2021. — APP ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) announced Thursday that power consumers will have to pay Re0.79 per unit more in the month of May. According to a notification, the additional amount is being levied in…
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Forex reserves fall by $119m to $4.19b | The Express Tribune
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[ad_1] KARACHI: The foreign exchange reserves held by the central bank fell by 2.7% on a week-on-week basis to $4.19 billion, according to data released by the State Bank of Pakistan (SBP) on Thursday. On May 19, 2023, the SBP’s foreign currency reserves stood at $4,193 million, down by $119 million as compared to $4,311.9…
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Matiari-Thar transmission line inaugurated | The Express Tribune
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[ad_1] HYDERABAD: Federal Minister for Energy (Power Division), Khurram Dastagir Khan, marked a momentous occasion on Thursday as he inaugurated the 220-kilometer Matiari-Thar 500 KV Quad Bundle transmission line. The project, completed in a record time of four months at a cost of Rs20 billion, was directed by Prime Minister Shehbaz Sharif and executed by…
