A representative image of transmission lines. — AFP/File ISLAMABAD: As Pakistan’s economy shows promising signs of recovery, the power sector plays a pivotal role in sustainable growth. THE Economic update And Outlook for November 2024 highlights a significant increase in foreign direct investment (FDI) in the sector, with $414 million invested in the first four … Read more
PTI supporters take part in a protest in Islamabad on November 26, 2024. — Reuters Expert warns of decline in remittances due to use of informal channels. Highlights potential difficulties in collecting taxes for the government. One must observe how Pakistani expatriates respond to Khan’s calling: banker. KARACHI: The Pakistan Tehreek-e-Insaf (PTI) has marched on … Read more
State Bank of Pakistan building in this undated image. — AFP/File The SBP has cut interest rates four times in a row since June. The CPI for November stood at 4.9%, well below the general market consensus. 71% of survey participants expect a minimum rate cut of 200 basis points by the SBP. The State … Read more
Prime Minister Shehbaz Sharif addresses the COP29 Climate Action Summit in Baku, Azerbaijan, November 13, 2024. — PID The Prime Minister reiterates the government’s commitments to economic recovery. “I remain faithful to all the promises I made,” the Prime Minister said. He says the country is moving towards progress after economic stability. ISLAMABAD: Prime Minister … Read more
Finance Minister Muhammad Aurangzeb addresses a press conference in this undated image. – APPLICATION FinMin attributes a positive projection to the government’s economic policies. Aurangzeb emphasizes the role of the private sector in the economy. The minister discusses the economic losses of the last 6 years amounting to Rs6 tr. KARACHI: Finance Minister Muhammad Aurangzeb … Read more
Finance Minister Muhammad Aurangzeb addresses a press conference in Islamabad on June 13, 2024. — AFP Strengthening economic stability remains a top priority. Housing and the private sector identified as a key economic driver. The government is committed to politically supporting private companies. ISLAMABAD: Finance Minister Mohammad Aurangzeb has reiterated the government’s commitment to fulfilling … Read more
Electricity transmission towers are pictured in Karachi on July 26, 2022. — Reuters The government is reviewing the winter electricity tariff structure nationwide. Conservation incentives introduced in a context of growing energy demand. Additional charges apply beyond seasonal consumption thresholds. ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) has approved the federal government’s winter demand … Read more
A man uses a mobile phone to take a photo of the electronic board displaying stock prices during trading at the Pakistan Stock Exchange in Karachi. — AFP/File The KSE-100 index hit an intraday high of 109,478.08 points. The benchmark index crossed the 100,000 mark seven days ago. The rally continues after the refinancing of … Read more
An image of a wedding venue. — Reuters/File KARACHI: The Federal Board of Revenue (FBR) has imposed a 10 per cent withholding tax on wedding halls, which the Marriage Hall Association said would be borne by the event organizers. In a statement released on Friday, association president Rana Raees said the tax would be collected … Read more
Construction work of Malir Korangi Expressway towards Quaidabad segment is underway, at Korangi Industrial Area in Karachi on Wednesday, November 6, 2024. — PPI KARACHI: Karachi Mayor Murtaza Wahab on Thursday announced an allocation of Rs 2.1 billion to address pressing infrastructure issues in Korangi Industrial Area (KIA), News reported. Speaking at the Korangi Association … Read more
A representative image showing two men looking at their crops in a field in this undated photo. — ADB/File The mandate of the NTC will be expanded to include property tax. Unified rates on cards for harmonization of GST on goods and services. Adjustments to the ICA regimes were considered to align them with Federal … Read more
AP Asia’s achievements were celebrated at the AP Asia broadcast event, which took place at a local hotel in Islamabad. — Image provided by event organizers After more than four years of dedicated efforts, the “Accelerating Prosperity” project in Central and South Asia (AP Asia), funded by the European Union (EU) and implemented by Accelerating … Read more