Business News
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Italy becomes ‘billion dollar’ export market | The Express Tribune
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[ad_1] ISLAMABAD: At a time when Pakistan’s economy is struggling with the ever-widening trade deficit, some of its export markets are displaying an exceptional growth. Italy is among the countries where Pakistan’s exports have been rising phenomenally despite the tough market conditions caused by the Covid health emergency, said a statement issued on Tuesday. Italy…
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CM vows to meet energy demand | The Express Tribune
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[ad_1] KARACHI: Sindh Chief Minister Syed Murad Ali Shah announced on Tuesday that the provincial government had achieved almost all the goals set under the 2015 power policy. “We have achieved almost all goals set under the power policy of government of Sindh, launched in 2015, by tapping the Thar coal resource, brought private investment…
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More reliance on indirect taxes | The Express Tribune
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[ad_1] KARACHI: The Sindh government has increased its reliance on indirect taxes to finance its growing expenditures, as it has targeted to collect revenue from everyone – whether rich or poor – for the services received in the next fiscal year. The burden of indirect taxes on people would grow as Sindh Chief Minister Syed…
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Pakistan pins hopes on ‘onsite visit’ to exit FATF ‘grey list’ | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan is unlikely to exit the “grey list” of the Financial Action Task Force (FATF) in the ongoing deliberations in Berlin, Germany but hoping to secure an ‘onsite visit’ that may take Islamabad a step closer to get out of the watch list. Pakistan was placed on the grey list in June 2018…
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Pakistan wins terror financing case against NBP in NY court | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan has got another success on the legal front as it has won the terror-financing case against the National Bank of Pakistan (NBP) in the Federal Court in New York. The Express Tribune has learnt that some years ago the National Bank was accused of facilitating the transfer of funds that were used…
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Sindh cabinet gives nod to Rs1.71tr budget; 15% increase in salaries
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[ad_1] Sindh Chief Minister Murad Ali Shah presides over a pre-budget cabinet meeting at CM House. -Picture Sindh CM House KARACHI: The provincial cabinet Tuesday approved budget proposals worth Rs1.71 trillion for the fiscal year 2022-23. Sindh Chief Minister Murad Ali Shah chaired a special session of the cabinet, also attended by all provincial ministers,…
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Pakistan budget needs additional measures to meet goals: IMF | The Express Tribune
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[ad_1] ISLAMABAD: Additional measures will be needed to bring Pakistan’s budget for fiscal year 2022-23 in line with the key objectives of its International Monetary Fund programme, the lender’s resident representative in Islamabad said on Monday. The federal government unveiled a Rs9.5 trillion budget for 2022-23 on Friday aimed at tight fiscal consolidation in a…
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Rupee free fall continues on IMF tranche uncertainty
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[ad_1] A currency dealer can be seen counting Rs500 notes. — AFP/File KARACHI: The rupee continued to slide in the foreign exchange market, dropping by Rs1.64 against the US dollar to hit Rs205.50 during early morning trading on Tuesday. According to the State Bank of Pakistan (SBP), the currency had closed at an all-time low…
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Rupee continues slide against USD, shoots past Rs205 | The Express Tribune
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[ad_1] KARACHI: The Pakistani Rupee is being traded at Rs205.31 against the US dollar after it shed Rs1.51 in the interbank market on Tuesday. A day earlier, the PKR had closed at Rs203.85 against the USD. The rupee is in freefall against the greenback for the third consecutive day amid pressure on Pakistan’s foreign exchange…
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Bitcoin falls after crypto lender holds withdrawals | The Express Tribune
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[ad_1] LONDON: Bitcoin slumped 14% on Monday after major US cryptocurrency lending company Celsius Network froze withdrawals and transfers citing “extreme” conditions, in the latest sign of the financial market downturn hitting the crypto sphere. The Celsius move triggered a slide across cryptocurrencies, with their value dropping below $1 trillion on Monday for the first…
