Express
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IMF deal boosts capital markets | The Express Tribune
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[ad_1] KARACHI: Pakistan’s capital markets are poised to celebrate an unexpected early win with the staff-level agreement on a $7 billion extended fund facility (EFF) with the International Monetary Fund (IMF). This 37-month agreement is expected to propel the stock market beyond the recent record high of over 81,000 points on Monday, while the rupee…
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PM Shehbaz orders FBR to revamp revenue strategy to combat national debt | The Express Tribune
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[ad_1] ISLAMABAD: Prime Minister Shehbaz Sharif has directed the Federal Board of Revenue (FBR) to reassess its revenue collection strategy to help reduce the country’s debt burden. During a meeting at the FBR headquarters on Saturday, the premier stressed the need to bring sectors that are not currently paying taxes into the tax net. He…
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Pakistan secures $7 billion EFF deal | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan and the International Monetary Fund have reached a staff level agreement for a $7 billion Extended Fund Facility programme -in a deal that in short-term inflicts heavy burden on the nation but also ends decades-old protections to agriculturists and exporters. The global lender announced the three-year 24th programme deal only after Pakistan…
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Sino-Pak cooperation to unlock mining potential | The Express Tribune
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[ad_1] China and Pakistan will soon conduct research on the geochemical anomalies identified in previous surveys in Pakistan to reach the full potential, both academically and economically, revealed Dr Sajjad Ahmed, Director General of the Geological Survey of Pakistan. He was speaking at the International Conference of Cooperation between the Shanghai Cooperation Organisation (SCO) Countries…
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Bullish streak breaks as PSX drops 467 points amid confidence woes | The Express Tribune
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[ad_1] The Pakistan Stock Exchange (PSX) experienced a significant drop today, losing 467 points to stand at 79,524.98 during intra-day trading and marking a 0.59% decline from the previous day’s closing of 79,992.35 points. Yesterday, the PSX gained 150.80 points, a 0.19% increase, closing at 79,992.35 points compared to Wednesday’s closing of 79,841.56 points. However,…
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Most of wind, solar plants being built in China | The Express Tribune
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[ad_1] BEIJING: Almost two-thirds of big wind and solar plants under construction globally are in China, where surging renewable capacity has squeezed coal’s generation share to new lows, research released on Thursday showed. China is building 339 gigawatts (GW) of utility-scale wind and solar, or 64% of the global total, a report from US-based think…
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‘Govt committed to enhancing cotton industry’ | The Express Tribune
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[ad_1] ISLAMABAD: Federal Minister for Industries, Production, and National Food Security, Rana Tanveer Hussain, on Thursday reiterated the government’s commitment to promoting the cotton industry. He made this statement while addressing the meeting of the Pakistan Central Cotton Committee (PCCC)’s governing body, according to a news release. The minister stressed that Pakistan’s economy heavily relies…
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IEA sees slow growth in oil demand | The Express Tribune
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[ad_1] LONDON: Global oil demand growth will slow to just under a million barrels per day (bpd) this year and next, the International Energy Agency (IEA) said, as Chinese consumption contracted in the second quarter due to economic problems. Global demand in the second quarter rose by 710,000 bpd year on year in its lowest…
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IMF proposes 45% tax on agriculture income | The Express Tribune
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[ad_1] ISLAMABAD: As Pakistan seeks a multibillion-dollar bailout from the International Monetary Fund (IMF) to stabilise its chronically ailing economy, the global lender has suggested imposition of a standard individual income tax rate of up to 45% on agriculture income – something that may end the disparity in income tax regime without the need to…
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Car sales reach 18-month high, surge 120% YoY | The Express Tribune
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[ad_1] KARACHI: According to a report released by Topline Research on Wednesday, Pakistan car sales, as reported by the Pakistan Automotive Manufacturers Association (PAMA), hit an 18-month high in June 2024, recording sales of 13,300 units. This marks a 21% increase month-on-month (MoM) and a 120% increase year-on-year (YoY). The MoM increase in car sales…
