Tribune
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‘Pakistan needs careful economic management to get stability’ | The Express Tribune
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[ad_1] ISLAMABAD: The World Bank (WB) on Tuesday suggested Pakistan to undertake the much-needed fiscal reforms including a reduction in tax exemptions and a broadening of the tax base, terming them “critical” for economic stability and sustainable economic growth. “Careful economic management and deep structural reforms will be required to ensure macroeconomic stability and growth,”…
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Rupee continues to rally against US dollar, gains Rs1.04 | The Express Tribune
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[ad_1] ISLAMABAD: Pakistani rupee on Tuesday witnessed its 20th consecutive recovery session as it gained Rs1.04 against the US dollar in the interbank trading and closed at Rs285.72 against the previous day’s closing of Rs 286.76. According to the Forex Association of Pakistan (FAP), the buying and selling rates of the dollar in the open…
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Cnergyico receives first Russian oil cargo | The Express Tribune
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[ad_1] ISLAMABAD: Cnergyico Pk has received the first cargo of Russian Urals crude at its Single Point Mooring (SPM) facility, which will clear the way for handling larger ships with oil consignments later. Earlier, Pakistan Refinery Limited (PRL) imported 100,000 tons of Russian crude oil, which was first divided into two ships at an Omani…
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Power reforms: Broken promises and rising costs | The Express Tribune
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[ad_1] LAHORE: Financial globalisation has driven the microeconomic reforms in the power sector in the last 30 years. After the unbundling of the Water and Power Development Authority (WAPDA), electricity generation is being done by WAPDA, Pakistan Atomic Energy Commission and a plethora of Independent Power Producers (IPPs). Transmission function is performed by the National…
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Capitalising on human capital | The Express Tribune
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[ad_1] KARACHI: More than a decade ago, CNN anchor Becky Anderson inquired the then prime minister, Yousuf Raza Gilani, about Gallup’s survey report, which showed that a fifth of the Pakistanis want to leave the country. However, the response from the PPP’s PM stunned the anchor when he replied “why don’t they just leave then!”…
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PSX leads in global markets | The Express Tribune
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[ad_1] KARACHI: Pakistan Stock Exchange (PSX) has taken the lead as one of the best-performing markets globally, showing a remarkable recovery of 12% in the quarter ending on September 29, 2023. Topline Research has indicated that the future direction of the market will be influenced by several key factors in the upcoming quarter, including the…
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Rupee may stabilise at 285/$ | The Express Tribune
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[ad_1] KARACHI: Taking cue from a lot of happenings, the consistently strengthening Pakistani currency is projected to stabilise around the level of Rs285 to a US dollar in the inter-bank market. Any appreciation beyond that level will make imports cheaper and exports expensive, which will result in the widening of trade and current account deficits…
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FBR exceeds tax collection target by Rs35b | The Express Tribune
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[ad_1] ISLAMABAD: The Federal Board of Revenue (FBR) has exceeded the tax collection target for the month of Sept 2023 by Rs35 billion. The FBR maintained that the tax collection target in Sept was set at Rs799 billion, but on the contrary, it collected Rs834 billion. Read also: Tax collection beats target by big margin…
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Forex reserves fall by $59m to $7.64b | The Express Tribune
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[ad_1] KARACHI: The State Bank of Pakistan (SBP) reported a 0.76% decrease in its foreign exchange reserves on a week-on-week basis, with the total now standing at $7.64 billion. According to data released by the central bank on Thursday, its foreign currency reserves fell by $59 million to reach $7,636.7 million in the week ending…
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Tax collection beats target by big margin | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan has met the International Monetary Fund (IMF)’s condition about revenue collection for the first quarter of current fiscal year as it collected Rs2.023 trillion, exceeding the goal by a big margin, though challenges to broaden the tax base remain. As against the IMF’s quarterly target of Rs1.977 trillion, the Federal Board of…
