Business News
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Proposals sought for targeted subsidy | The Express Tribune
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[ad_1] ISLAMABAD: Minister for Finance and Revenue Miftah Ismail on Thursday directed the ministries concerned to work out proposals for the targeted subsidy as per vision of Prime Minister Shehbaz Sharif to support the lower strata of society. The minister expressed the resolve to provide maximum relief to the people from the continuously rising prices,…
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FBR’s claims of swift refund release termed eyewash | The Express Tribune
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[ad_1] LAHORE: Pakistan Hosiery Manufacturers and Exporters Association (PHMA) has said that the Federal Board of Revenue’s (FBR) promise to instantly release the tax refund claims seems to be just an eyewash as exporters continue to face inordinate delay in the disbursement of refunds through theFASTER system. In a statement on Thursday, PHMA Central Chairman…
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Energy sector largest bank defaulter | The Express Tribune
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[ad_1] KARACHI: Pakistan’s energy sector continued to remain the largest defaulter in the repayment of loans to banks in calendar year 2021, as banks’ non-performing loans (NPLs) increased 3.8% (or Rs31 billion) during the year. “Sector-wise analysis indicates that the rise in overall NPLs (the loans which corporate and individuals fail to repay on time)…
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Shaukat Tarin hints at increase in taxes
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[ad_1] Former finance minister Shaukat Tarin speaks on the floor of the Senate in Islamabad, on June 23, 2022. — YouTube/PTVNews ISLAMABAD: The International Monetary Fund (IMF) has asked the Pakistani government to impose further taxes of Rs440 billion, former finance minister Shaukat Tarin said Thursday. “The actual budget will be unveiled now,” the ex-finance…
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Govt imposes 10% regulatory duty on import of motor spirit
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[ad_1] The Federal Board of Revenue imposes 10% regulatory duty on import of motor spirit. — AFP/file ISLAMABAD: The federal government on Thursday imposed a 10% regulatory duty on the import of motor spirit — a transparent, petroleum-derived liquid that is used primarily as a fuel in internal combustion engines. The regulatory duty on the motor…
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Singaporean company chief praises Ishaq Dar’s economic policies
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[ad_1] Executive Chairman of Meinhardt Dr Shehzad Nasim (left) and former finance minister Ishaq Dar. — Meinhardt/YouTube TOKYO: The top executive of an engineering company based in Singapore has heaped praises on the economic policies of former finance minister Ishaq Dar. Dr Shehzad Nasim, the executive chairman of Meinhardt, said that not only did Dar’s policies…
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Rupee sees recovery against US dollar in interbank market
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[ad_1] A currency dealer is seen counting $100 notes; while Rs500 notes are kept on the table. — AFP/File KARACHI: The Pakistani rupee recovered against the US dollar on Thursday following the finance minister’s confirmation that Pakistan has signed $2.3 billion loan agreement with China and hopes of a deal with the International Monetary Fund…
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Rupee gains ground against USD, inter-bank rate at 209.20 | The Express Tribune
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[ad_1] KARACHI: The Pakistani rupee started showing signs of recovery on Thursday as it gained Rs2.73 against the US dollar to reach Rs209.20 in the inter-bank market before midday, eventually breaking the two-week-long downward streak. The domestic currency had closed at Rs211.93 on Wednesday. The significant recovery of the local currency follows headway with the…
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Rupee gains ground against USD, inter-bank rate at 207.33 | The Express Tribune
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[ad_1] KARACHI: The Pakistani rupee started showing signs of recovery on Thursday as it gained Rs4.60 against the US dollar to reach Rs207.33 in the inter-bank market, eventually breaking the two-week-long downward streak. The local currency recovered 2.17% to Rs207.33 at around 1 pm compared to Wednesday’s close at Rs211.93. The significant recovery of the…
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MoU inked for small agri-businesses | The Express Tribune
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[ad_1] ISLAMABAD: understanding (MoU) was signed on Wednesday between the Small and Medium Enterprises Development Authority (Smeda) and the International Trade Centre (ITC) to reduce poverty by strengthening small-scale agri-businesses in Pakistan. The selective activities of the European Unionfunded project “Growth of Rural Advancement and Sustainable Progress (GRASP)” will be jointly implemented by Smeda and…
