Tribune
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IMF sticks to 2.5% growth forecast for Pakistan | The Express Tribune
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[ad_1] ISLAMABAD: The International Monetary Fund (IMF) on Tuesday kept Pakistan’s economic growth forecast unchanged at 2.5% but slashed inflation rate to 23.6% for the current fiscal year, in a move that is largely in line with official projections. The global lender released its flagship report, the World Economic Outlook, at the start of annual…
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Remittances hit 6-month peak at $2.2b | The Express Tribune
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[ad_1] KARACHI: The remittances sent home by overseas Pakistanis hit a six-month high at $2.20 billion in September 2023, as expatriate workers increasingly used official channels following a government crackdown on currency smugglers and the illicit Hawala-Hundi traders. The increase in inflows sparked hopes that the current account deficit would be moderate for the month.…
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Minister for speeding up work on CPEC | The Express Tribune
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[ad_1] ISLAMABAD: Caretaker Minister for Planning, Development and Special Initiatives Muhammad Sami Saeed on Tuesday gave directives to accelerate the pace of work on the China-Pakistan Economic Corridor (CPEC) projects in Gwadar. Chairing a meeting to review the progress on CPEC projects in Gwadar, he asked ministries and divisions to speed up work on the…
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PM terms smuggling ‘existential threat’ | The Express Tribune
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[ad_1] ISLAMABAD: Caretaker Prime Minister Anwaarul Haq Kakar disclosed on Monday that 27,000 vehicles of smuggled Iranian oil were illegally entering Pakistan daily with the connivance of local officials — a rare admission that also exposes the deep-rooted nexus between the smugglers and their benefactors. In an informal interaction with media persons, the country’s chief…
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Agri, property taxes top priority | The Express Tribune
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[ad_1] ISLAMABAD: The World Bank on Monday termed increase in taxes on the wealthier agriculture and property sectors its highest priority and said salaried persons were already paying taxes closer to their maximum potential. The highest priority areas for increasing tax collection were the agriculture and property sectors where there was a lot of wealth,…
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Time to increase returns for local USD holders | The Express Tribune
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[ad_1] KARACHI: A sigh of relief is being noticed among pundits. It is loud and clear that we don’t earn enough – in rupee (fiscal) and in USD (external debt) – to put the country on a sustainable recovery path. While aggressive danda-nomics has proven productive to bring USD from Rs335 to Rs290 in open…
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Public sector efficiency: A billion-dollar challenge | The Express Tribune
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[ad_1] ISLAMABAD: It is quite topical nowadays that most public sector institutions are operating in the red with piles of debt and plenty of inefficiencies in their operating models. This is just one part of the story. The real point to ponder is not the financial aspect but the efficiency loss and resulting opportunity cost.…
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Unlocking Pakistan’s trade potential with Europe | The Express Tribune
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[ad_1] KARACHI: The European Union (EU), a conglomerate of 27 different countries, is the largest destination market for Pakistani exports. According to the trade statistics provided by the International Trade Centre’s Trademap.org, the EU imported more than $12 billion worth of goods from Pakistan in 2022. The EU provides Pakistani exporters with GSP (Generalised Scheme…
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Power companies crack down on electricity theft | The Express Tribune
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[ad_1] HYDERABAD: Since the launch of their campaign against power theft and illegal connections in the region, on Saturday, the Hyderabad Electric Supply company (Hesco) has claimed to have collected Rs3.59 billion of which Rs3.55 billion were recovered from defaulters, while Rs41.8 million were collected as penalties. According to Saadik Kubar, spokesperson for Hesco, Rs1.88…
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Farmers advised to prepare for mid-October | The Express Tribune
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[ad_1] FAISALABAD: Agricultural experts have recommended that farmers prepare their land to start cultivating wheat from mid-October to produce a bumper yield. A spokesperson for the Ministry of Agriculture (Agriculture Extension) on Saturday said that the period from mid-October to late November is the most suitable time for growing wheat. Therefore, farmers should prepare their…
