Express
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Circular debt forecast to jump by Rs545b | The Express Tribune
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[ad_1] ISLAMABAD: The circular debt is projected to increase by another Rs545 billion by March next year despite a surge in electricity prices as foreign loans pegged with the so-called power sector reforms are limited to only increasing prices and ignore other critical issues. Pakistan eyes another loan of $600 million from the World Bank…
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KCCI slams FBR for slapping tax on immovable property | The Express Tribune
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[ad_1] KARACHI: The Karachi Chamber of Commerce and Industry (KCCI) has slammed the Federal Board of Revenue (FBR) for its “discriminatory attitude” as it has imposed a tax on sale or transfer of immovable property in Karachi while the same tax has been withdrawn in Punjab. KCCI President Mohammed Tariq Yousuf demanded a similar treatment…
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Pakistani handicrafts in hot demand at expo | The Express Tribune
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[ad_1] KUNMING: The 7th China-South Asia Exposition and the 27th China Kunming Import and Export Fair kicked off on Wednesday in Kunming, the capital city of Yunnan province. The five-day expo provides substantial impetus for fast-growing trade and business relations between China and South Asian countries. “China-South Asia Exposition is the biggest expo in Yunnan…
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Minister vows to propel exports to $80b | The Express Tribune
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[ad_1] ISLAMABAD: Caretaker Federal Minister of Commerce Dr Gohar Ejaz has vowed to breathe new life into commercial and industrial sectors as well as propel Pakistan’s exports to the ambitious target of $80 billion. At a briefing, Ejaz, who assumed charge as the caretaker commerce minister, expressed the resolve to tackle complexities head-on in order…
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Surplus in trade with Italy surges 97% | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan’s goods and services trade with Italy recorded a surplus of 97.11% during fiscal year 2022-23 as compared to the previous year. Trade surplus came in at $624.518 million in FY23 against $316.995 million a year ago, showing a growth of 97.11%. Overall exports to Italy stood at $1,151.448 million during July-June FY23…
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Telecom sector for tackling ‘digital emergency’ | The Express Tribune
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[ad_1] ISLAMABAD: The telecom industry has urged the new caretaker government to address the prevailing “digital emergency” and stop the country’s advance towards a “digital catastrophe”. The industry is looking at caretaker IT and Telecom Minister Dr Umar Saif with hope that he will be able to tackle the digital emergency and avert the threat…
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Current account in deficit again | The Express Tribune
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[ad_1] KARACHI: Pakistan’s current account balance again landed in negative zone, registering a deficit of $809 million in July, in the wake of a jump in import payments and slump in worker remittances, ending the streak of surpluses achieved over the past four months. The deficit was slightly higher than market expectations of around half…
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Roadmap sought to boost revenue | The Express Tribune
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[ad_1] ISLAMABAD: The interim finance minister on Friday ordered to urgently prepare a roadmap to increase the dismally low tax-to-GDP ratio to nearly 13%, sending taxmen to the drawing board for finding ways to enhance collection by another Rs4.2 trillion. In her maiden meeting at the Federal Board of Revenue (FBR) on tax matters, Dr…
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Forex reserves rise $12m to $8.1b | The Express Tribune
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[ad_1] KARACHI: Foreign exchange reserves held by the State Bank of Pakistan (SBP) have increased by 0.14% on a week-on-week basis, reaching $8.1 billion, according to data released by the central bank on Thursday. By the end of the week on August 11, 2023, the central bank’s foreign currency reserves were recorded at $8,055.3 million,…
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Interim setup picks pro-liberal policies duo | The Express Tribune
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[ad_1] ISLAMABAD: The interim government has picked an experienced duo of Dr Shamshad Akhtar and Dr Waqar Masood Khan to steer the country out of a prolonged economic crisis. The two new wizards are known for their pro-International Monetary Fund (IMF) stances and liberal policies. The government has appointed Akhtar as the federal minister of…
