Tribune
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Qamar to co-chair Pak-US TIFA meeting | The Express Tribune
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[ad_1] ISLAMABAD: Federal Minister for Commerce, Syed Naveed Qamar will co-chair the Pakistan-US Trade and Investment Framework Agreement (TIFA) Council meeting to be held in Washington DC after eight years. According to a press statement issued by the commerce ministry, the purpose of TIFA is to enhance the bonds of friendship and spirit of cooperation…
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ICT export remittances rise to $1.5b | The Express Tribune
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[ad_1] ISLAMABAD: The information technology and IT-enabled services (ITeS) industry has received export remittances of $1.523 billion in the first seven months (Jul 2022-Jan 2023) of current financial year, an increase of 2.35% year-on-year. In the corresponding period of last year, the industry had realised information and communication technology (ICT) export proceeds of $1.488 billion.…
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Rs170 billion mini-budget sails through National Assembly | The Express Tribune
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[ad_1] ISLAMABAD: The National Assembly on Monday passed the Finance (Supplementary) Bill, 2023 dubbed as ‘mini-budget’ to impose new taxes worth Rs170 billion in a bid to revive the stalled International Monetary Fund (IMF) bailout programme. Minister for Finance Ishaq Dar introduced the bill in the House last week followed by formal debate that started…
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Economic crisis in Pakistan and the role of West | The Express Tribune
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[ad_1] ISLAMABAD: One thing is common among international financial institutions (IFIs), which is they trap and exploit countries, and blame others for their exploitation. It is an unwritten rule of business and they are applying it with dedication. It is a known fact that many countries crumbled during the reform period under an IMF programme.…
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IMF chief urges Pakistan to tax rich, protect poor | The Express Tribune
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[ad_1] International Monetary Fund (IMF) Managing Director Kristalina Georgieva has urged Pakistan to take necessary steps “to be able to function as a country” and avoid “getting into a dangerous place where its debts need to be restructured”. She said this while speaking to German broadcaster Deutsche Welle at the Munich Security Conference. Pakistan is confronting an acute…
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Indus River diverted at Dasu hydropower project site | The Express Tribune
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[ad_1] DASSU KOHISTAN: Indus River was successfully diverted following the completion of one of the two diversion tunnels at the under-construction Dasu hydropower project in Kohistan District, Khyber-Pakhtunkhwa (K-P). Instead of its natural course, the river is now flowing through a 1.33-kilometre (Km) long diversion tunnel with a 20-metre (m) width and 23-m height. Consequently,…
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Task force reviews KE payables, receivables | The Express Tribune
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[ad_1] ISLAMABAD: The matter of payables and receivables between K-Electric and the federal government is being reviewed by a task force constituted by Prime Minister Shehbaz Sharif for reconciliation, said KE in a statement on Friday. “The outstanding payable amount towards Central Power Purchasing Agency (CPPA-G) reported in the circular debt management plan with respect…
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Textile exports post 3% decline in Jan | The Express Tribune
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[ad_1] KARACHI: Pakistan’s textile exports for January 2023 posted a Month-on-Month (MoM) decline of 3%, recording $1.32 billion only. In rupee terms, exports clocked in at Rs309 billion, increasing by 2% MoM. “Value-added textile exports fell by 3% MoM to $932 million mainly due to an 8% drop in the exports of readymade garments and…
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CPEC’s ThalNova to begin operations | The Express Tribune
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[ad_1] KARACHI: China Pakistan Economic Corridor (CPEC)’s 330MW lignite fired power plant at Thar Coal Block II in Sindh successfully achieved its commercial operations date on February 17, 2023. ThalNova is a joint venture among Hub Power Company Limited (HUBCO), Thal Limited, Novatex Limited, China Machinery Engineering Corporation (CMEC), and Descon Engineering Limited. Foreign financing…
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Paracetamol: FBR refused duty waiver on raw material | The Express Tribune
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[ad_1] ISLAMABAD: The government has increased the price of paracetamol tablets after the Ministry of Finance and the Federal Board of Revenue (FBR) refused to grant subsidy and cut duties on the import of raw material. Sources told The Express Tribune that the cabinet had directed the FBR to immediately exempt the import of active…
