Tribune
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REER appreciates slightly to 97.91 in Feb | The Express Tribune
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[ad_1] KARACHI: Pakistan’s real effective exchange rate (REER) – the country’s currency value against a basket of currencies of trading partners – has slightly appreciated, but still it remains close to its fair value which means that exports have remained competitive and imports slightly expensive. “The REER index was recorded at 97.91 in February 2022…
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IMF proposes high income tax | The Express Tribune
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[ad_1] ISLAMABAD: The International Monetary Fund (IMF) has proposed to tax the upper middle and rich income groups, who earn in the range of Rs104,000 to Rs1 million a month, at a single rate of 30%. The proposal indicates inequity in taxation as a majority of the salaried Pakistanis will be worse off amid double-digit…
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FTO promises to resolve traders’ grievances | The Express Tribune
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[ad_1] ISLAMABAD: The Federal Tax Ombudsman (FTO) attaches immense importance to the business community particularly the tax payers hence no injustice will be tolerated at any cost against any tax payer in Pakistan, said Federal Tax Ombudsman, Dr Asif Mahmood Jah. Speaking to a delegation of businessmen on Thursday, he said that his office was…
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Sino-Pak dairy cooperation to result in industrial upgrade | The Express Tribune
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[ad_1] BEIJING: “We have learnt that Pakistan is the most important exporter and producer of dairy products in South Asia,” Bright Dairy and Food Company Limited Overseas Business Manager Li Yunjie told China Economic Net. “I think Pakistan’s high-quality dairy products will be of great strategic significance to us and we are willing to explore…
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Business leader for exploiting GSP Plus | The Express Tribune
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[ad_1] ISLAMABAD: Exporters should reap maximum benefits of the GSP plus status as it is playing a key role in pushing Pakistan towards a bright future, said UK-Pakistan Business Council Chairman Mian Kashif Ashfaq. Speaking to a delegation of women exporters on Thursday, he said that GSP plus status had strengthened Pakistan’s commitment to further…
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Refineries seek Rs23b in tax refunds | The Express Tribune
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[ad_1] ISLAMABAD: Cash-strapped oil refineries have sought the Petroleum Division’s help for the release of Rs23 billion worth of refunds stuck with the Federal Board of Revenue (FBR). In a letter to Ministry of Energy (Petroleum Division) Secretary Ali Raza Bhutta, the Oil Companies Advisory Council (OCAC) underlined that refineries were already facing problems in…
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Rupee likely to be ‘weakened amid rising trade balance’ | The Express Tribune
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[ad_1] Pakistan’s currency could be weakened as the surge in energy and commodities prices deepens the nation’s current account deficit, according to Deutsche Bank AG’s country head, referring to the broadest measure of trade, a report published in Bloomberg stated. “That’s a key concern for the economy and for the business community,” the bank’s chief…
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Market watch: KSE-100 recoups losses, closes above 43,500 | The Express Tribune
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[ad_1] KARACHI: The Pakistan Stock Exchange made a U-shaped recovery on Thursday as the benchmark KSE-100 index erased losses, suffered in the first half of trading session, to close above the 43,500-point mark. Investor interest stemmed from anticipation of the resolution of domestic political issues, however, a jump in yields in the latest T-bills auction…
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Foreign exchange: SBP reserves drop $869m to $14.96b | The Express Tribune
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[ad_1] KARACHI: The foreign exchange reserves held by the central bank decreased 5.49% on a weekly basis, according to data released by the State Bank of Pakistan (SBP) on Thursday. On March 18, the foreign currency reserves held by the SBP were recorded at $14,962.4 million, down $869 million compared with $15,831.6 million on March…
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Pakistan in talks with Russia for LNG imports | The Express Tribune
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[ad_1] ISLAMABAD: As Russia develops the Yamal LNG project facility — Islamabad and Moscow are in talks to a multi-billion dollar government-to-government import deal. The Yamal LNG Project includes the development of the giant South Tambey (Tambeyskoye) gas field that is located near Sabetta in the Yamal peninsula in Russia. The Russian government has declared…
