Tribune
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Rs16.6 billion allocated for agriculture sector | The Express Tribune
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[ad_1] KARACHI: The Sindh government has allocated Rs16.652 billion for the agriculture sector in the budget for fiscal year 2022-23. The provincial government aims to improve the irrigation system with the financial support of the World Bank under the Sindh Irrigated Agriculture Productivity Enhancement Project (SIAPEP). SIAPEP’s implementation will help in improvement of water courses,…
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In new record low, rupee crosses 205 | The Express Tribune
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[ad_1] KARACHI: Pakistani currency crashed and crossed Rs205 against the US dollar for the first time in the inter-bank market on Tuesday, as conflicting reports about the revival of IMF loan programme played on traders’ minds and made the foreign exchange market jittery. The rupee lost 0.63% (or Rs1.30) to stand at Rs205.16 against the…
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Income of foreign lenders taxed | The Express Tribune
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[ad_1] ISLAMABAD: The Federal Board of Revenue (FBR) has taxed the income being earned by foreign lenders by giving loans to Pakistan in addition to imposing taxes on their grants – a move that the Ministry of Economic Affairs said may cause serious repercussions. The disclosure was made by Ministry of Economic Affairs Additional Secretary…
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Italy becomes ‘billion dollar’ export market | The Express Tribune
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[ad_1] ISLAMABAD: At a time when Pakistan’s economy is struggling with the ever-widening trade deficit, some of its export markets are displaying an exceptional growth. Italy is among the countries where Pakistan’s exports have been rising phenomenally despite the tough market conditions caused by the Covid health emergency, said a statement issued on Tuesday. Italy…
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CM vows to meet energy demand | The Express Tribune
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[ad_1] KARACHI: Sindh Chief Minister Syed Murad Ali Shah announced on Tuesday that the provincial government had achieved almost all the goals set under the 2015 power policy. “We have achieved almost all goals set under the power policy of government of Sindh, launched in 2015, by tapping the Thar coal resource, brought private investment…
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More reliance on indirect taxes | The Express Tribune
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[ad_1] KARACHI: The Sindh government has increased its reliance on indirect taxes to finance its growing expenditures, as it has targeted to collect revenue from everyone – whether rich or poor – for the services received in the next fiscal year. The burden of indirect taxes on people would grow as Sindh Chief Minister Syed…
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Pakistan pins hopes on ‘onsite visit’ to exit FATF ‘grey list’ | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan is unlikely to exit the “grey list” of the Financial Action Task Force (FATF) in the ongoing deliberations in Berlin, Germany but hoping to secure an ‘onsite visit’ that may take Islamabad a step closer to get out of the watch list. Pakistan was placed on the grey list in June 2018…
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Pakistan wins terror financing case against NBP in NY court | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan has got another success on the legal front as it has won the terror-financing case against the National Bank of Pakistan (NBP) in the Federal Court in New York. The Express Tribune has learnt that some years ago the National Bank was accused of facilitating the transfer of funds that were used…
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Pakistan budget needs additional measures to meet goals: IMF | The Express Tribune
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[ad_1] ISLAMABAD: Additional measures will be needed to bring Pakistan’s budget for fiscal year 2022-23 in line with the key objectives of its International Monetary Fund programme, the lender’s resident representative in Islamabad said on Monday. The federal government unveiled a Rs9.5 trillion budget for 2022-23 on Friday aimed at tight fiscal consolidation in a…
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Rupee continues slide against USD, shoots past Rs205 | The Express Tribune
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[ad_1] KARACHI: The Pakistani Rupee is being traded at Rs205.31 against the US dollar after it shed Rs1.51 in the interbank market on Tuesday. A day earlier, the PKR had closed at Rs203.85 against the USD. The rupee is in freefall against the greenback for the third consecutive day amid pressure on Pakistan’s foreign exchange…
