Tribune
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In a U-turn, rupee dives in open market | The Express Tribune
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[ad_1] KARACHI: Pakistani currency on Monday again took a dramatic U-turn, diving 2.59%, or Rs8, to a four-day low at Rs308 against the US dollar in the open market amid short supply of the greenback on retail counters. In the inter-bank market, the currency dropped to a two-week low at Rs286.19 against the greenback, losing…
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Cost of production up by staggering 100-150% | The Express Tribune
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[ad_1] KARACHI: The alarming surge in production costs, skyrocketing by 100% to 150% over the past 18 months, has set a distressing upward trend into motion across the country. For farmers, this is further compounded by the devastating floods of 2022, severely impacting the economic condition of growers. In light of these challenges, farmers are…
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Pakistan ‘very hopeful’ of sealing IMF deal in June: PM Shehbaz | The Express Tribune
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[ad_1] ANKARA: Pakistan is “very hopeful” of finalising a deal with the International Monetary Fund (IMF) this month, according to Prime Minister Shehbaz Sharif. “We are still very hopeful that the IMF programme will materialise. Our ninth review by the IMF will match all terms and conditions and, hopefully, we’ll have some good news this…
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Capitalising on benefits of inclusive wealth approach | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan developed its first-ever Inclusive Wealth Report (IWR) in June 2021 in line with the global demand to adopt the inclusive wealth paradigm imperative for sustainable development. Inclusive wealth involves all sectors of economy and takes a holistic approach by considering all relevant indicators of economic growth. Growth measurement in Pakistan is currently…
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‘Passing off another’s goods as own unlawful’ | The Express Tribune
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[ad_1] ISLAMABAD: The top court has held that it was unlawful for a trader to pass off his goods as those of another by using the same or confusingly similar mark, name, or get-up.“As nobody has any right to represent his goods as the goods of somebody else, it is unlawful for a trader to…
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Govt mulls taxing bonus shares, undistributed profits | The Express Tribune
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[ad_1] ISLAMABAD: The Federal Board of Revenue (FBR) has recommended the imposition of a 5% tax on bonus shares issued by companies and on their undistributed profits in the next budget. This proposal would primarily affect family-owned companies but would benefit minority shareholders. Sources told The Express Tribune that the FBR is contemplating the reinstatement…
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Gwadar declared tax-free zone by Balochistan govt | The Express Tribune
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[ad_1] QUETTA: The Balochistan provincial government has officially declared Gwadar as a tax-free zone, urging federal authorities to grant the region a similar economic status, Express News reported. According to the provincial government, Gwadar will now be exempt from services and excise tax, and any tax on property transfers, a significant development for the district…
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Weekly inflation up by 0.03 percent | The Express Tribune
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[ad_1] ISLAMABAD: After two consecutive weeks of decline, inflation in Pakistan has begun to rise once more. During the recent week, there was a slight increase in the inflation rate, up by 0.03 percent, with an annual inflation rate recorded at 42.67 percent.The inflation rate for individuals with a monthly income ranging from Rs17,733 to…
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Seafood container from Pakistan reaches China | The Express Tribune
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[ad_1] BEIJING: In a significant development, a truck laden with cold chain containers carrying seafood from Pakistan has successfully reached Kashgar city in China’s Xinjiang Uygur Autonomous Region, traversing the cross border land route. This groundbreaking achievement marks the first-ever transportation of seafood containers from Pakistan to Kashgar city via the CPEC, according to a…
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Ogra jacks up gas tariff by 50% for SNGPL | The Express Tribune
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[ad_1] ISLAMABAD: “The Oil and Gas Regulatory Authority (Ogra) announced on Friday a 50% increase in gas prices for the consumers of the Sui Northern Gas Pipeline Limited (SNGPL) and 45% for the consumers of the Sui Southern Gas Company Limited (SSGCL) for 2023-24. The SNGPL had sought an increase of 286% or Rs2,206.19 per mmbtu for…
