Express
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‘Strong IPR system required for economic growth’ | The Express Tribune
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[ad_1] KARACHI: Karachi business leaders are advocating for a strong intellectual property rights (IPR) system in Pakistan, supported by technology, to harness the country’s resources and expand its wealth. President of the Karachi Chamber of Commerce and Industry (KCCI), Mohammed Tariq Yousuf, welcomed Chairman of the Intellectual Property Organisation (IPO), Farrukh Amil, stating that due…
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Tax incentives demanded | The Express Tribune
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[ad_1] LAHORE: Pakistan’s women entrepreneurs have unanimously called for a separate entrepreneurship policy for women in the country. The demand came up at an online consultative session arranged by SMEDA, and was attended by female entrepreneurs from across the country. The entrepreneurs complained that women have no special tax incentives and that they bear a…
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‘Substantial progress’ by Pakistan toward loan programme: IMF | The Express Tribune
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[ad_1] The International Monetary Fund (IMF) said that Pakistan has made “substantial progress” toward meeting policy commitments needed to unlock loans the country needs to avoid default, Bloomberg News reported on Monday. The international lender said Pakistan has a few more tasks before it can unlock a $6.5 billion loan to avoid a default, putting…
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Govt’s subsidy plan raises red flags | The Express Tribune
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[ad_1] ISLAMABAD: The chances of finalising the ninth review of the troubled $6.5 billion Extended Fund Facility (EFF) from the International Monetary Fund (IMF) soon got bleak after the global lender on Monday raised questions over the government’s new fuel subsidy scheme. The development came as the government decided to dole out subsidies worth billions…
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Pak Suzuki posts staggering losses of Rs6.3b | The Express Tribune
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[ad_1] KARACHI: Pak Suzuki Motor Company (PSMC) has reported a significant loss of Rs6.3 billion, with outstanding foreign liabilities of $184 million, for the year ended December 31, 2022. According to a notice sent to the Pakistan Stock Exchange (PSX) on Monday, “The company has outstanding foreign liabilities equivalent to $184 million at year end…
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Pakistan’s current account deficit hits two-year low | The Express Tribune
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[ad_1] KARACHI: Pakistan’s current account deficit (CAD) hit a two-year low of $74 million in a month, narrowly failing to turn around the country’s deficit into surplus in February. The government achieved the significantly low deficit through limiting imports to manage with low foreign exchange reserves and high risk of default on foreign debt repayments.…
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As IMF shifts towards inclusive growth, is Pakistan ready? | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan’s decades-old policies that give preferential access to state resources to a select few sectors and ensure strong government footprints have placed it among nations that have the lowest inclusive growth and low access to education and healthcare, endangering the unparalleled demographic dividends. A book of the International Monetary Fund (IMF), “Promoting Inclusive…
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PM announces petrol relief package for motorcyclists | The Express Tribune
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[ad_1] ISLAMABAD: Prime Minister Shehbaz Sharif announced on Sunday that low-income individuals will receive a petroleum subsidy of Rs50 per litre as part of a relief package. The subsidy will be available to those who own motorcycles, rickshaws, 800cc cars, and other small vehicles. During a review meeting on the relief package, the premier emphasised…
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SBP abolishes 1.5% fee on debit, credit card transactions | The Express Tribune
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[ad_1] KARACHI: The State Bank of Pakistan (SBP) has abolished the mandatory minimum fee of 1.5%, which was being charged by banks from merchants on financial transactions done through debit and credit cards, and allowed financial institutions to charge even less than 1.5% to promote digital banking. The central bank has maintained maximum limit of…
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UBS under pressure to take over Credit Suisse | The Express Tribune
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[ad_1] ZURICH: UBS AG was examining on Saturday a takeover of its embattled Swiss peer Credit Suisse, sources said, a move that could allay fears that an unfolding crisis may destabilise the global banking system. The 167-year-old Credit Suisse is the biggest name ensnared in the market turmoil unleashed by the collapse of US lenders…
