Tribune
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PRA registers 33% growth in Oct | The Express Tribune
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[ad_1] LAHORE: The Punjab Revenue Authority (PRA) surpassed its monthly tax collection target as it received Rs14.548 billion in October 2022, registering a growth of 33% over collection of Rs10.966 billion in the same month of last year. According to a spokesperson for the PRA, in the first four months of current financial year, the…
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K-Electric’s power tariff cut by Rs5.12 per unit | The Express Tribune
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[ad_1] ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) on Friday decided to slash power tariff by Rs5.12 per unit for K-Electric (KE) consumers on account of fuel cost adjustment (FCA) for September 2022. In its petition filed with Nepra, KE had requested a tariff reduction of Rs4.622 per kilowatt-hour (kWh). The regulator conducted a…
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Forex reserves fall by $956m to $7.9b | The Express Tribune
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[ad_1] KARACHI: The foreign exchange reserves held by the central bank fell by 10.7% on a week-on-week basis, according to data released by the State Bank of Pakistan (SBP) on Thursday. On November 4, the foreign currency reserves held by the SBP were recorded at $7,957 million, down by $956 million compared with $8,912.9 million…
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Exports to swell following exit from FATF grey list | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan’s exports will swell after its exit from the Financial Action Task Force’s (FATF) grey list and expected removal from the European Union’s list of weak anti-money laundering and counter-financing of terrorism regimes, hoped the chairman of a business body. UK-Pakistan Joint Business Council Chairman Mian Kashif Ashfaq, while talking to Pak-British Friendship…
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Climate change to hit 20% of GDP | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan needs a mammoth $348 billion in eight years – 800% more than the current annual budget – to stop climate-induced disasters. Climate change, however, has the potential to shave off one-fifth of the economy if no action is taken now, says a new report released by the World Bank. The World Bank…
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Fly Jinnah joins hands with Bookme as preferred partner | The Express Tribune
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[ad_1] The recent news of Fly Jinnah’s much anticipated launch was met with open arms by eager travelers. Within just days of the launch we started seeing appreciative comments and posts pouring onto social media encouraging all potential customers to lock their flights. Soon after, Fly Jinnah, the first budget airline, gave travelers another welcome…
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Setback for businesses, says FAP | The Express Tribune
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[ad_1] Forex Association of Pakistan (FAP) President, Malik Bostan, on Wednesday, said that, since the last six months, Pakistan has been suffering from political instability – the adverse effects of which are reflected in slower economic growth and declining rates of investment. Addressing a seminar organised by the FAP, Bostan urged the armed forces, government…
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Pakistan to get $500m from AIIB for uplift scheme | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan will receive $500 million as co-financing for the BRACE development programme from the Asian Infrastructure Investment Bank (AIIB), Finance Minister Ishaq Dar said on Wednesday. The BRACE (Building Resilience with Active Counteryclical Expenditures Programme) is an Asian Development Bank financing programme to counter the social fallouts of economic crisis. “These funds will…
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Sugar mills claim surplus stock of $1b | The Express Tribune
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[ad_1] LAHORE: Sugar millers have emphasised that they have surplus stocks in the country amounting to $1 billion and these can be sold in the international market that will fetch foreign exchange as well as revenue for the government. In a statement, a spokesman for the Pakistan Sugar Mills Association (PSMA) argued that for the…
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Govt mulls royalty holiday for E&P firms | The Express Tribune
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[ad_1] ISLAMABAD: As Pakistan finds it hard to make pricey liquefied natural gas (LNG) imports, the government is mulling over offering a four-year royalty holiday on offshore drilling to exploration and production (E&P) companies, with high hopes that the incentive will give a significant push to gas production. At present, oil and gas exploration companies…
