Business News
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Debt servicing to take lion’s share in budget | The Express Tribune
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[ad_1] ISLAMABAD: The government may unveil a fiscally expansionary budget of around Rs14.6 trillion – an unprecedented 50% increase over this’s year’s approved budget – mainly on account of a record high interest payments. Sources told The Express Tribune that for fiscal year 2023-24, budget deficit – gap between expenses and the income – is…
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Corporates in trouble as financial crisis persists | The Express Tribune
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[ad_1] ISLAMABAD: German tech firm SAP has pressed the government to immediately address the challenges arising from the restrictions on opening Letters of Credit (LCs) as they have hurt its business in Pakistan. Interacting with the media, SAP Managing Director for Pakistan, Iraq and Afghanistan Saquib Ahmad highlighted the collaborative efforts made by SAP and…
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Gold starts week with small gain
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[ad_1] This undated file image shows a set of gold bangles. — AFP After a minuscule cumulative gain last week, the price of gold rose again in Pakistan Monday. The rate of gold (24 carats) rose by Rs2,000 per tola and Rs1,714 per 10 grams to settle at Rs237,300 and Rs203,446, respectively, data provided by…
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KTrade inks MoU with Ahmed & Qazi law firm to bolster businesses in country
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[ad_1] “The collaboration will help Pakistani companies get better access to capital to deal with economic challenges.” — Press Release Pakistan’s stock brokerage and corporate advisory firm on Sunday collaborated with a leading law firm in a bid to help boost businesses in the country. KTrade Securities signed a memorandum of understanding (MoU) with Ahmed…
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The dollar’s deadly dilemma | The Express Tribune
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[ad_1] ISLAMABAD: Time, it seems, is running out for the US dollar’s global hegemony. And its results for the world’s foremost economic and military superpower threaten to be catastrophic. US Treasury Secretary Janet Yellen’s recent warning about the fallout from a US debt default is sounding alarm bells about the stability of the global economy…
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Learning habits: where do we stand? | The Express Tribune
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[ad_1] ISLAMABAD: The true nature of learning ‘anything’ in Pakistan is far grim, let alone the modern education standards. As a matter of fact, the overall learning attitude is nothing short of a horror story. People seem to be in a continual denial of the reality and let their children waste their time in their…
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In a first, air taxi to operate in Pakistan
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[ad_1] KARACHI: Pakistan will soon start operating its first-ever online aerial taxi service, providing people with an innovative and fast means of transportation within the country. Private company Sky Wings — in collaboration with a foreign investor — has launched this modern facility in Karachi and will be available to individuals in the next two weeks. In this…
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Is IMF delaying agreement due to ‘political use’ of funds?
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[ad_1] The International Monetary Fund logo is seen during the IMF/World Bank spring meetings in Washington, US, April 21, 2017. — Reuters Amid a prolonged delay in reaching an agreement with the International Monetary Fund (IMF), the Finance Division clarified Saturday that the lender has not raised concerns about its funds possibly being used for…
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Policy adjustments proposed to revitalise economy | The Express Tribune
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[ad_1] KARACHI: Prominent businessmen and industry leaders have presented a series of essential policy adjustments to revitalise Pakistan’s economy, emphasising the upcoming budget for the fiscal year 2023-2024 as a golden opportunity to foster growth, innovation, and sustainable development across various sectors. Leading a delegation from the Federation of Pakistan Chambers of Commerce and Industry…
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As sales drop, Pak Tobacco inches towards closure | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan Tobacco Company (PTC) is moving towards shutting down its entire Jhelum factory, a step that it is compelled to take owing to a sharp fall in sales as illicit and smuggled cigarette brands flood the domestic market. With the surge in tax rates for the legal industry, cigarette sales of PTC have…
