Tribune
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Dar stops FBR from using tax money | The Express Tribune
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[ad_1] ISLAMABAD: Finance Minister Ishaq Dar on Saturday stopped the Federal Board of Revenue (FBR) from its illegal move to award its officers allowances by diverting taxpayers’ money, remaining short of suspending people who executed the plan. “Keeping in view the current economic situation in Pakistan, the federal minister for finance has taken notice of…
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Potato to boost vegetable exports | The Express Tribune
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[ad_1] LAHORE: Potato is one of the very rare cases in which Pakistan is not just self-sufficient for domestic use and seed development, but also an exporter. In the first four months of current fiscal year, overall vegetable exports of Pakistan swelled by 90% in quantity and 57% in value thanks to brisk potato shipments.…
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‘Tough’ IMF talks push rupee to Rs276.58 | The Express Tribune
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[ad_1] KARACHI: Reacting to Prime Minister Shehbaz Sharif’s statement that the International Monetary Fund (IMF) conditions are tough, the domestic currency dived almost 2% – or Rs5.22 – to hit a new all-time low closing at Rs276.58 against the US dollar in the interbank market on Friday. The latest drop in the rupee-dollar exchange rate…
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Debt servicing may surge to whopping Rs5.2tr | The Express Tribune
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[ad_1] ISLAMABAD: The International Monetary Fund (IMF) on Thursday asked Pakistan to increase the general sales tax rate to a minimum of 18% to raise more taxes, as the country’s debt servicing cost was projected to increase to alarmingly Rs5.2 trillion in the current fiscal year The global lender placed the demand to increase the…
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Smuggling not responsible for dollar hike | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan Customs is not responsible for curbing smuggling at international borders and its role is limited to cities only, said the Customs Department head of operations on Thursday while again ruling out the role of smuggling in the record high price of dollars in the country. Mukarram Jah, a member of customs operations…
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Pakistan’s forex reserves drop to $3.09b | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan’s foreign exchange reserves held by the central bank decreased by 16.1% to $3.09 billion in the week ending Jan 27, the State Bank of Pakistan (SBP) said on Thursday, which analysts said covers less than three weeks of imports. The country is locked in negotiations with the International Monetary Fund (IMF) to…
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Adani group’s market losses hit $100b as stocks sink | The Express Tribune
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[ad_1] NEW DELHI: India’s Adani group shares plunged on Thursday after the Gautam Adani-led conglomerate shelved a $2.5 billion share sale amid a turbulent market, bringing its cumulative market capitalisation losses to $100 billion since last week’s short-seller attack. The withdrawal of Adani Enterprises’ (ADEL.NS) share sale marks a dramatic setback for Adani, the school…
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PM allows 150% executive allowance for aggrieved officers | The Express Tribune
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[ad_1] ISLAMABAD: Prime Minister Shehbaz Sharif on Wednesday announced giving 150 per cent executive allowance to leftover officers serving at the Pakistan Secretariat in an effort to end a sense of discrimination in the bureaucracy caused by a tailor-made notification of the finance ministry. The annual impact of ending the unequal distribution of funds was…
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Inflation rises to 48-year high as IMF visits | The Express Tribune
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[ad_1] KARACHI: Inflation has risen to a 48-year high in crisis-hit Pakistan, where the International Monetary Fund is visiting for urgent talks, according to data released on Wednesday by the statistics bureau. Year-on-year inflation in January 2023 was recorded at 27.55 percent, the highest since May 1975, with thousands of containers of imports held up at…
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Inflation rises to 48-year high as IMF visits | The Express Tribune
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[ad_1] KARACHI: Inflation has risen to a 48-year high in crisis-hit Pakistan, where the International Monetary Fund is visiting for urgent talks, according to data released on Wednesday by the statistics bureau. Year-on-year inflation in January 2023 was recorded at 27.55 percent, the highest since May 1975, with thousands of containers of imports held up at…
