Express
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FBR orders blocking SIM cards of over half-a-million non-filers | The Express Tribune
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[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…
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Govt implements sweeping fiscal reforms to cut debt | The Express Tribune
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[ad_1] ISLAMABAD: The federal government, on Monday, notified new fiscal rules to reduce its debt servicing cost by gradually tapping into trillions of rupees of public money that ministries and departments have parked in commercial banks. The Ministry of Finance issued new Cash Management and Treasury Single Account Rules in order to capture the details…
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Business confidence sees slight increase of 1.8% in April | The Express Tribune
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[ad_1] KARACHI: The State Bank of Pakistan’s (SBP) business confidence index (BCI) improved by 1.8% to a three-month high at 53.3 in April 2024, suggesting that the businesses’ trust lost in the past is gradually returning to normalcy in the country. According to the result of the survey conducted by SBP in collaboration with the…
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SBP holds key policy rate at 22% | The Express Tribune
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[ad_1] KARACHI: In line with market expectations, Pakistan’s central bank has left its key policy rate unchanged at a record high of 22% for the seventh consecutive time in the past 10 months, ahead of the IMF executive board’s final approval for the release of the last tranche of $1.1 billion on Monday. The country…
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The tale of two banks | The Express Tribune
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[ad_1] ISLAMABAD: “…….we had everything before us, we had nothing before us, we were all going direct to Heaven, we were all going direct the other way – in short, the period was so far like the present period,” excerpt from Charles Dickens’ “The Tale of Two Cities” published in 1859. The year was 1997…
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EV dealers call for incentives | The Express Tribune
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[ad_1] KARACHI: Out of a total of 34 brands of Electric Vehicle (EV) two and three-wheelers, almost 20 have introduced newer models, catering to all age groups. Sales volumes have improved following a lacklustre period during Ramazan. The Engineering Development Board (EDB) has granted licenses to 34 EV bike companies, including those manufacturing electric rickshaws.…
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Ethiopian envoy urges Pakistani banks to expand into Addis Ababa | The Express Tribune
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[ad_1] FAISALABAD: Ambassador of the Federal Democratic Republic of Ethiopia, Jemal Beker Abdula, has urged Pakistani banks to open branches in Addis Ababa for business transactions. Addressing the business community at the Faisalabad Chamber of Commerce & Industry (FCCI), he emphasised that the Ethiopian government would facilitate businesses, enhancing bilateral trade. Establishing a banking channel…
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PM purges FBR of corrupt officials | The Express Tribune
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[ad_1] ISLAMABAD: Prime Minister Shehbaz Sharif on Friday removed from the Federal Board of Revenue (FBR) 25 officers, who were in higher pay grades of 21 and 22, on the basis of the input from three intelligence agencies about their financial integrity and competence. Among those who have been ousted included the top tier members…
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Weekly inflation at new 7-month low | The Express Tribune
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[ad_1] KARACHI: The short-term inflation reading further decelerated by 1.10% in the week ended April 25, 2024 in the backdrop of a fall in prices of food items including tomato, onion and chicken, maintaining its downward streak for the second consecutive week. According to the Pakistan Bureau of Statistics (PBS) and local research houses, the…
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Stocks post thin decline on profit-taking | The Express Tribune
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[ad_1] KARACHI: Pakistan Stock Exchange (PSX) on Thursday came under slightly downward pressure, sparked by institutional profit-taking in overbought stocks amid the ongoing corporate earnings season. In the morning, trading commenced on a positive note, reflecting the previous day’s growth momentum, and the KSE-100 index touched its intra-day high of 72,593.25 points around midday. Investor…
