Business News
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Govt asked to remove sales tax on hybrid seeds | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan Hi-Tech Hybrid Seed Association (PHHSA) Chairman Shahzad Ali Malik has urged the government to withdraw 17% sales tax on hybrid seeds for boosting agricultural production in order to ensure food security by increasing the per-acre output of all crops. Speaking to a delegation of progressive women entrepreneurs, led by Shaneela Hayat from…
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‘Fragile economy cannot afford political turmoil’ | The Express Tribune
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[ad_1] ISLAMABAD: The country’s fragile economy is not in a position to bear the brunt of prolonged political turmoil at this crucial juncture, cautioned Saarc Chamber of Commerce and Industry (SCCI) President Iftikhar Ali Malik. His comments came while talking to a delegation of progressive educated women on Wednesday. He lamented that the political turmoil…
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Pakistan seeks to diversify trade with France | The Express Tribune
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[ad_1] ISLAMABAD: Federal Minister for Commerce Syed Naveed Qamar has said that Pakistan values its historic, friendly and cooperative relationship with France and wishes to strengthen and diversify bilateral trade and economic linkages in the coming years. He was talking to French Minister for Foreign Trade and Attractiveness Franck Riester on Wednesday, according to a…
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Auto sector to see golden age | The Express Tribune
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[ad_1] BEIJING: As for the automotive industry, Pakistan is about to see a golden age of development. Chinese brands including BAIC Motor, Changan Auto and SAIC Motor have set up their assembly plants in Pakistan, said Pakistan’s Honorary Investment Counsellor in China Philip Jian. Other brands like GWM, BYD and Geely are also likely to…
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Rupee recovers after falling below 202 | The Express Tribune
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[ad_1] KARACHI: Pakistani currency continued to plunge for the 14th successive working day, as it crossed Rs202 against the US dollar at one point for the first time in the inter-bank market on Wednesday. The currency maintained its downturn as the country’s default risk, measured by the credit default swap (CDS), remained abnormally high amid…
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Cereal body opposes ban on maize export | The Express Tribune
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[ad_1] KARACHI: Exporters have urged the government not to ban maize exports, as the country has surplus maize production and it earns foreign exchange for the national exchequer. In a letter to the Ministry of Commerce and the Ministry of National Food Security and Research, the Cereal Association of Pakistan requested the authorities not to…
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Govt mulls incentives to raise cotton output | The Express Tribune
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[ad_1] ISLAMABAD: The government has decided to offer incentives to the farmers to enable them to switch over from the water-intensive sugarcane crop to cotton production in a bid to rely less on cotton imports and enhance textile exports amid a rapidly widening trade deficit. A plan in that regard was tabled before Prime Minister…
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Bond yields rise further | The Express Tribune
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[ad_1] KARACHI: Commercial banks have further increased the interest rate on fresh financing for the cash-strapped government, as the demand for funds to meet budgetary expenditures stood high whereas political uncertainty restrained the rulers from making tough decisions. The cut-off yields on three and five-year Pakistan Investment Bonds (PIBs) rose by 70 basis points (bps)…
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US deficit to drop to $1 trillion in 2022: budget office
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[ad_1] The US.Treasury building in Washington, D.C. Photo: Bloomberg WASHINGTON: The US government deficit will fall dramatically this year to $1 trillion, down from levels not seen since World War II hit during the pandemic, the Congressional Budget Office said Thursday. The budget shortfall in the current fiscal year will shrink significantly from the prior…
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Pakistan, IMF fail to reach staff-level agreement on programme’s revival, say sources
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[ad_1] International Monetary Fund (IMF) Headquarters in Washington. — AFP DOHA: The International Monetary Fund (IMF) late Wednesday delayed the revival of the stalled $6-billion programme under External Financing Facility (EFF) for Pakistan. The revival was expected to bring stability to the financial markets, the fast-weakening Pakistani rupee, and the depleting foreign exchange reserves, as…
