Business News
-
How come Islamic Banks pay consistent returns? | The Express Tribune
.
[ad_1] Why Islamic banks pay consistent returns? When it’s based on profit and loss sharing why they never share losses? How is this Islamic? How can an Islamic bank which is actually in loss, pay consistent profit to their depositors? These are some of the many questions raised against Islamic banks nowadays. We will…
-
Pakistan and China sign 23 MOUs aimed at strengthening bilateral ties across multiple sectors | The Express Tribune
.
[ad_1] Pakistan and China have inked 23 Memorandums of Understanding (MoUs) aimed at enhancing collaboration across various sectors. The MoUs signed Friday in Islamabad included transportation infrastructure, industry, energy, agriculture, media, healthcare, water management, socioeconomic development, and other mutual areas of interest. Following delegation-level discussions between Prime Minister Shehbaz Sharif and Chinese Premier Li Qiang in Beijing, Foreign…
-
Over 50% industrial units shut down | The Express Tribune
.
[ad_1] KARACHI: Eminent business leaders have expressed grave concern about the closure of over 50% factories in every industrial zone of the country and cautioned that if the government did not take measures on a war-footing, it may turn out to be a disaster for the economy. They have pleaded for the immediate abolition of…
-
PPP made privy to harsh IMF conditions | The Express Tribune
.
[ad_1] As the size of the new budget is likely to soar by 30% to a record Rs18.9 trillion due to additional expenditure demands, the PML-N government on Wednesday took its main ally—the PPP—into confidence about the harsh conditions set out by the International Monetary Fund (IMF). The tax target for the Federal Board of…
-
Electricity price raised by Rs3.33 per unit | The Express Tribune
.
[ad_1] ISLAMABAD: The cost of electricity for consumers rose by Rs3.33 per unit on Thursday owing to monthly fuel adjustment charges, according to a notification issued by the National Electric Power Regulatory Authority (NEPRA). The increase in electricity prices will be applied to the bills of the current month, excluding K-electric and lifeline consumers. Electricity…
-
PSX against tax-driven distortions in asset classes | The Express Tribune
.
[ad_1] KARACHI: Pakistan Stock Exchange (PSX) has submitted tax proposals to the Ministry of Finance (MoF) and the Federal Board of Revenue (FBR) for consideration in the federal budget for fiscal year 2024-25, submitting that the government should align rates of capital gains tax (CGT) on the sale of stocks with those applicable to the…
-
Nepra ‘ends relief programme’ for electricity bill payments
.
[ad_1] A representational image of a transmission tower, also known as an electricity pylon. — AFP/File ISLAMABAD: After amending the Consumer Service Manual, 2021, the National Electric Power Regulatory Authority (Nepra) has almost abolished a major relief measure for power consumers to pay their electricity bills in multiple instalments. The consumers have lost another relief…
-
Budget FY25: Govt proposes ‘20% hike’ in salaries
.
[ad_1] An employee counts Pakistani rupee notes at a bank in Peshawar, on August 22, 2023. — Reuters ISLAMABAD: As the federal government ramped up the pace to finalise the budget 2024-25, the finance minister proposed a 15-20% hike in the salaries, Geo News reported citing sources. According to the insiders of the finance ministry,…
-
ADB’s financing to help boost public-private partnerships
.
[ad_1] The Asian Development Bank headquarters in Manila, December 4, 2002. — AFP The Asian Development Bank (ADB) Wednesday greenlighted a $250 million loan to help Pakistan drive sustainable investments in infrastructure and services through public-private partnerships (PPPs). ADB’s Promoting Sustainable Public–Private Partnerships Program, a statement from the institution said, supports the implementation of government…
-
Poor people pay more taxes | The Express Tribune
.
[ad_1] KARACHI: Economist Dr Kaiser Bengali has said that people in the low-income group are paying more taxes in Pakistan than those in high-income brackets, as the share of indirect taxes has spiked to 85% compared to the government’s claim of reducing their ratio to 59-60%. Speaking at a workshop titled “Budget Reporting” at the…
