Tribune
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Real estate taxes to hinder growth of construction sector | The Express Tribune
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[ad_1] ISLAMABAD: The new taxes imposed by the government through the budget for 2022-23 on the real estate sector will badly affect the growth of construction industry and largely increase unemployment, said Islamabad Chamber of Commerce and Industry (ICCI) President Muhammad Shakeel Munir. “The construction industry plays a vital role in the development of the…
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Govt to spend Rs118 billion on connectivity projects | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan government on Friday unveiled a Rs727 billion development programme, with Rs118 billion set aside for new and ongoing connectivity projects under the China-Pakistan Economic Corridor (CPEC), Central Asia Regional Economic Cooperation (Carec) programme and Khyber Pass Economic Corridor (KPEC). Bulk of the funds has been earmarked for road projects along the western…
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Stock market gains 1.7% on budget optimism | The Express Tribune
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[ad_1] KARACHI: Bulls dominated the Pakistan Stock Exchange during the outgoing week as investors remained optimistic and started the trading week on a positive note amid the federal budget announcement. The investors took fresh positions and opted to cherry-pick stocks as the week began with positive news that the government was setting the budget deficit…
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Govt requests $2b loan rollover | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan has made another request to China for the rollover of $2 billion worth of debt maturing soon but it forgot to book Chinese and International Monetary Fund (IMF) loans in the budget, underreporting foreign borrowing by $7 billion for the next fiscal year. Finance Minister Miftah Ismail admitted on Saturday that the…
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Hyundai Motor plants in extra weekend run | The Express Tribune
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[ad_1] A huge Hyundai Motor Co factory complex added weekend production on Saturday, despite a nationwide strike by truckers that has hit ports and other South Korean industrial giants, including steelmaker Posco. On day five of the strike, some 100 unionised truckers, about a tenth of Friday’s show of force, assembled at the main gate…
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Tanzania signs LNG framework agreement | The Express Tribune
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[ad_1] DAR ES SALAAM: Tanzania signed a framework agreement on Saturday with Norway’s Equinor and Britain’s Shell that will bring closer the start of construction of a $30 billion liquefied natural gas (LNG) export terminal, live video from the event showed. Energy Minister January Makamba said the signing would pave the way for a final…
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US gasoline price tops $5 per gallon | The Express Tribune
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[ad_1] NEW YORK: The price of US gasoline averaged more than $5 a gallon for the first time on Saturday, data from the American Automobile Association (AAA) showed, extending a surge in fuel costs that is driving rising inflation. The national average price for regular unleaded gas rose to $5.004 a gallon on June 11…
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Fertiliser to become more expensive | The Express Tribune
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[ad_1] KARACHI: The proposed increase in sales tax on fertiliser in the budget for fiscal year 2022-23 will make the commodity further expensive for the small and medium-sized farmers. “Farmers have slammed the increase in sales tax on fertiliser from 2% to 10% in the Finance Bill 2022,” Pakistan Businesses Forum (PBF) Vice President Ahmad…
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Pakistan to seek deferred payments for Qatari LNG | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan will seek a deferred payment plan for liquefied natural gas bought under long term deals with Qatar, Finance Minister Miftah Ismail said on Saturday, as country faces a balance of payments crisis and falling foreign exchange reserves. “We’ve talked about a deferred payment plan … or at least I’ve requested this ……
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EXIM Bank set up to meet IMF’s demand | The Express Tribune
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[ad_1] ISLAMABAD: The government has fulfilled another condition of the International Monetary Fund (IMF) for the revival of the bailout package as it got the bill backing the establishment of the Export-Import Bank of Pakistan passed from the National Assembly just ahead of the budget session. The IMF-backed export-import bank was one of the conditions…
