Tribune
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Govt mulls increasing import taxes | The Express Tribune
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[ad_1] ISLAMABAD: The government is considering options to once again increase import taxes on ‘luxury goods’ or make it more difficult to import cars under baggage or gift schemes in an effort to curb imports, which have started to rise since last month. Sources have informed The Express Tribune that proposals to disrupt the flow…
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Business confidence plummets as default looms | The Express Tribune
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[ad_1] KARACHI: Despite the country securing external loan payback arrangements under the International Monetary Fund (IMF) loan program, the majority of businesses remain wary of the risks associated with defaulting on foreign debt repayments, according to a survey conducted by Gallup Pakistan. The businesses have little hope that the current caretaker government will provide effective…
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Erdogan, policymakers to meet Putin in Russia | The Express Tribune
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[ad_1] ANKARA: Turkey’s top economic policymakers are visiting Russia for meetings on Monday, a source said, travelling along with President Tayyip Erdogan who will meet Kremlin Chief Vladimir Putin to discuss Black Sea grain exports. The source, a Turkish official who requested anonymity, said Finance Minister Mehmet Simsek and Hafize Gaye Erkan, the Central Bank…
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Pakistan is in a debt (death) trap | The Express Tribune
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[ad_1] KARACHI: During the last week the Pakistani Rupee achieved a historic first. It broke through the Rs300 barrier against the Dollar. Other firsts were also recorded: The price of petrol broke through the Rs300 per litre barrier. The cost of a unit of electricity rose to a historic high. More increases are forecast for…
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Time for caretakers to take care of rupee | The Express Tribune
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[ad_1] KARACHI: Enough is said about the consequences of Rs50 drop in the currency’s open market value in less than two months from Rs280 to Rs330 against king dollar. While a hurriedly conducted press conference was more of a message to the IMF about adhering to the plan, the nation is again undergoing tremendous amount…
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Sweetener turns sour amid high prices | The Express Tribune
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[ad_1] RAWALPINDI/ PESHAWAR: As the prices of electricity and petrol escalate, consumers are now faced with another blow as the price of sugar experiences an unabated rise, feeding the black market amid reports of smuggling and hoarding. The continuous surge in the price of sugar has led to an increase in the prices of…
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Long-awaited rail track to ferry Thar coal okayed | The Express Tribune
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[ad_1] KARACHI: Against the backdrop of nationwide protests regarding soaring power bills and mounting tensions with a Chinese coal extraction partner in Thar, the federal government has delivered long-awaited approval for a critical infrastructure project. The project entails the construction of a 105-kilometer railway line, linking Thar to Bin Qasim, with the aim to seamlessly…
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Govt urged to curb dollar outflow | The Express Tribune
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[ad_1] LAHORE: Businessmen have urged the government to control dollar flight besides bridging the gap between inter-bank and open market exchange rates. “A widening divide between inter-bank and open market dollar rates and an uncontrolled dollar flight are posing a new challenge to the trade, industry and economy,” said Lahore Chamber of Commerce and Industry…
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Oil storage, trade policy sparks controversy | The Express Tribune
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[ad_1] ISLAMABAD: Amidst protests from the oil industry, the government has officially released policy guidelines aimed at encouraging foreign suppliers to invest in the storage and trade of petroleum products, including crude oil. This move involves allowing foreign suppliers and their registered subsidiaries to maintain inventories of crude oil and petroleum products within their own…
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Cybercrime to cost Germany €206b in 2023 | The Express Tribune
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[ad_1] BERLIN: The theft of IT equipment and data, as well as digital and industrial espionage and sabotage, will cost Germany €206 billion ($224 billion) in 2023, German digital association Bitkom said on Friday. The damage will surpass the €200 billion mark for the third consecutive year, according to a Bitkom survey of more than…
