Express
-
Auctions of seized vehicles under scrutiny | The Express Tribune
.
[ad_1] ISLAMABAD: Smuggled vehicles confiscated by the Customs Department, a subsidiary under the Federal Board of Revenue (FBR), are being auctioned at prices below the reserve price established for the auctions. The startling revelation prompted the FBR to take notice of the auction of seized vehicles at less than the reserve price, despite objections raised…
-
ADB, donors pledge $5b in grants | The Express Tribune
.
[ad_1] KARACHI: The Asian Development Bank (ADB) and donors have pledged $5 billion in grants for member countries to combat vulnerabilities like climate change, natural disasters, poverty, and gender gaps over the next four years, enabling nations including Pakistan to focus on growth, development, and regional connectivity. In a statement on Friday, the ADB said,…
-
Short-term inflation gauge slows by another 1% | The Express Tribune
.
[ad_1] KARACHI: The short-term inflation decelerated by another one percentage point week-on-week on the back of falling food and energy prices, maintaining its downward trend for the third consecutive week. According to the Pakistan Bureau of Statistics (PBS), the inflation rate hit a two-year low at 24.37% in the week ended on May 2, 2024…
-
ADB, donors agree $5b ADF replenishment; grants also available for Pakistan | The Express Tribune
.
[ad_1] TBILISI: Donors and the Asian Development Bank (ADB) have agreed to a replenishment of $5 billion for ADB’s Asian Development Fund (ADF) 14 and Technical Assistance Special Fund (TASF) 8, with Pakistan emerging as a recipient of the grants. The commitment was made during ADB’s 57th annual meeting held in Tbilisi, Georgia, said a…
-
Exploration firm targets major fields | The Express Tribune
.
[ad_1] ISLAMABAD: Oil and Gas Development Company Limited (OGDCL), the largest hydrocarbon explorer in Pakistan, has targeted 20 major fields, mainly in the north and south, to enhance production and contribute to overcoming the energy crisis in the country. Owing to the rising demand for gas, Pakistan is relying more on the imported liquefied natural…
-
NIC Hyderabad sparks startup success | The Express Tribune
.
[ad_1] KARACHI: The National Incubation Centre (NIC) of Hyderabad has successfully incubated over 100 startups in less than two years across four cohorts, garnering international acclaim while encompassing various tech businesses. Cohorts, often referred to as batches, are selected through rigorous competition every six months and receive free-of-cost training funded by the state-owned enterprise Ignite…
-
Ministry mulls adding dates on cement bags | The Express Tribune
.
[ad_1] ISLAMABAD: The Ministry of Science and Technology has decided to forward the Competition Commission of Pakistan’s (CCP) proposal for revising national cement standards regarding the disclosure of “manufacturing/expiry dates” on cement bags to the PSQCA for deliberation in the Technical Committee. A CCP team, led by Member OFT Saeed Ahmad Nawaz, conducted a follow-up…
-
REIT fund seeks Rs403m investment via IPO | The Express Tribune
.
[ad_1] KARACHI: TPL Real Estate Investment Trust (REIT) Fund-I is scheduled to offer a minimum of 1.25% (22.94 million) units at Rs17.59 per unit to the general public with the aim of raising Rs403 million in the ongoing week at the Pakistan Stock Exchange (PSX). Fund runners may opt for selling an additional 1.22% (22.39…
-
Govt tightens noose on non-filers | The Express Tribune
.
[ad_1] ISLAMABAD: In a major development, the Federal Board of Revenue (FBR) on Tuesday issued legally-binding instructions to the relevant departments to block mobile phone connections of over half-a-million non-filers, as its campaign to voluntarily register retailers also falls apart with only 75 retailers availing the scheme. The tax machinery also faced another setback on…
-
Dues of Chinese plants soar to Rs529b | The Express Tribune
.
[ad_1] ISLAMABAD: The outstanding dues of Chinese power plants have increased to a record Rs529 billion due to Pakistan’s apathy towards these investors, as Beijing seeks more fiscal incentives for investment in the Special Economic Zones of the China-Pakistan Economic Corridor (CPEC). The government on Tuesday reviewed the status of Chinese investment and the security…
