Technicians working on a power pole in this undated image. – Online Lesco CEO says company has made billions by cutting online losses. Special unit responsible for accelerating the recovery of unpaid contributions. We are working on lists of corrupt and incompetent officers: Haider. LAHORE: A special unit has been set up to help the … Read more
An undated image of the Federal Board of Revenue (FBR) building in Islamabad. – APPLICATION The contracts contribute Rs 496 billion to revenue collection in FY2024. Taxes collected on bank profits and securities up 52.8% to Rs489 billion. Tax revenue from telephone bills increased by 14.3% to nearly Rs 100 billion. ISLAMABAD: The salaried segment … Read more
A representative image of a transmission tower, also known as an electricity pylon. — AFP/File Prime Minister Shehbaz is holding a federal cabinet meeting today. The government approves the proposal to reduce capacity costs. The Prime Minister considers the revised agreements a major achievement. The federal cabinet on Tuesday approved revised agreements with 14 independent … Read more
Finance Minister Muhammad Aurangzeb speaks during an interview during the G20 Finance Ministers and Central Bank Governors meeting in Washington, the United States, April 18, 2024. — Reuters We would like to opt for the first sovereign Panda Bond: Aurangzeb. Moved aimed at integrating its capital markets with that of China. The minister will begin … Read more
A representative image of a transmission tower, also known as an electricity pylon. — AFP/File Current defaulters owe Rs1,094tr to nightclubs. Companies adding 50 billion rupees per month to circularize the debt. 10 to 15% recovery achieved via overcharging each year. ISLAMABAD: Amid the government’s efforts to improve the country’s economic indicators, it has been … Read more
A power generation unit in Sukkur. — Sepco Website/File The CEO of Sepco will be director of DSU, co-director of the sector commander. The DSU will report directly to the Power Division Secretary. DSU was also mandated to reduce non-technical losses. ISLAMABAD: Personnel of Pakistan Army, Federal Investigation Agency (FIA) and Inter-Services Intelligence (ISI) have … Read more
Pakistani traders stand under an electronic board displaying stock prices on the Pakistan Stock Exchange (PSX). — INP/File Sentiment reinforced mainly by disinflation and improving reserves. The KSE-100 index gained 982.77 points and closed at 114,230.06. The index reached an intraday high of 114,496.08, then fell to 113,083.86. After a massive correction last week, the … Read more
Finance Minister Muhammad Aurangzeb speaks during an interview on the sidelines of the Asian Financial Forum in Hong Kong on January 13, 2025. — Screenshot via YouTube@markets Consider raising $200-250 million from Chinese investors: minister. China International Capital Corporation advises on Panda bonds. Growing countries taxis/GDP ratio at 13.5%, he said. HONG KONG: Amid the … Read more
An oil refinery in the Siberian city of Omsk, Russia. — Reuters/File Refiners will source more oil from the Middle East, Africa and the Americas. Crude prices and transportation costs will increase due to the change in supply. China’s independent refiners will cut production if ESPO’s supply hits. Chinese and Indian refiners will source more … Read more
View of partial traffic with the Karachi Port Trust building, in the background, in Karachi on September 2, 2023. — Reuters Direct taxes totaled Rs 4,531 billion, an increase of 38.5%. 57% increase in advance tax collection observed in FY24. WHT from dividends sees the largest increase at 69.9%. ISLAMABAD: The Large Taxpayers Office (LTO) … Read more