Business News
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Budget FY26: NEC nods to record Rs4.2tr uplift outlay for next fiscal
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[ad_1] Prime Minister Muhammad Shehbaz Sharif chairs a meeting of the National Economic Council in Islamabad on Wednesday. —APP ISLAMABAD: The National Economic Council (NEC) on Wednesday gave nod to a Rs4.2 trillion ($15.1 billion) development programme for fiscal year 2025–2026 (FY26), setting aside Rs1 trillion for federal schemes and Rs2.87 trillion for provincial spending,…
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SNGPL to lay dedicated pipelines for industries | The Express Tribune
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[ad_1] LAHORE: Sui Northern Gas Pipelines Limited (SNGPL) Chief Executive Officer Aamir Tufail has said that the gas-related issues faced by industrialists are being resolved on a priority basis. In this regard, pending requests for new industrial gas connections and over-billing complaints are being addressed swiftly while a focal person will be appointed to ensure…
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Govt raises petrol price by Re1 per litre for next fifteen days
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[ad_1] Employees at a fuel station attend to their customers in Islamabad, Pakistan. — AFP/File The federal government announced on Saturday a Re1 per litre increase in petrol prices for the upcoming fortnight as global oil markets continue to ease. The Finance Division issued a notification stating that the new petrol price will take effect…
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Coffee sector for duty cuts | The Express Tribune
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[ad_1] Listen to article LAHORE: Stakeholders in Pakistan’s growing coffee sector are urging the government to eliminate the 28% combined Regulatory Duty (RD) and Additional Customs Duty (ACD) on bulk instant coffee imports, arguing the current levy is stifling industry growth and preventing the development of a domestic coffee market. The duties were imposed in June 2021…
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WB warns high tariffs crippling Pakistan’s exports, competitiveness
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[ad_1] The World Bank logo is seen at the 2023 Spring Meetings of the World Bank Group and the International Monetary Fund in Washington, US, April 13, 2023. — Reuters The World Bank has raised concerns that Pakistan’s continued tariff-heavy approach is weakening its export performance and putting its economic future at risk. Exports have…
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Govt moves to turn idle power into digital gold | The Express Tribune
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[ad_1] Listen to article ISLAMABAD: In a ground-breaking move to transform Pakistan into a global leader in digital innovation, the government allocated 2,000 megawatts (MW) of electricity in the first phase of a national initiative to power Bitcoin mining and artificial intelligence (AI) data centres, said a press release on Sunday. This initiative, spearheaded by the Pakistan…
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No agreement yet on FY26 budget as IMF wraps up Pakistan visit
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[ad_1] A woman walks past the International Monetary Fund (IMF) logo at its headquarters in Washington, US, May 10, 2018. — Reuters The International Monetary Fund (IMF) announced that discussions on Pakistan’s fiscal year 2026 (FY26) budget will continue in the coming days, following the conclusion of a staff-level mission led by Nathan Porter. The…
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Further hike in defence budget likely to deal with India threat | The Express Tribune
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[ad_1] Listen to article ISLAMABAD: Pakistan may further increase the proposed defence budget for the next fiscal year to deal with the Indian aggression and spend more on indigenous research and development, in a move that may also require the provincial governments to share the additional cost. Official sources told The Express Tribune that due to rapid…
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NBP unveils tech upgrade for better service, data security
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[ad_1] This undated image shows the facade of a National Bank of Pakistan branch. — NBP/Facebook National Bank of Pakistan (NBP) has revamped its core banking system to deliver faster, smarter, and more secure digital services, with enhanced security and reduced downtime, according to a handout issued on Monday. The bank, in a statement, said…
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Govt set to unveil new industrial policy | The Express Tribune
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[ad_1] FAISALABAD: Following the success of the “Banyan Al-Marsous” operation, a new industrial policy aimed at placing Pakistan among the world’s top 20 economies will be announced very soon. It was stated by Haroon Akhtar Khan, Special Assistant to the Prime Minister on Industries and Production, while representing Prime Minister Shehbaz Sharif at the 50th…
