A trader counts Pakistani rupee notes at a currency exchange office in Peshawar. — Reuters/File The banking sector rate increased from 39% to 44%. The national treasury is expected to receive between 70 and 75 billion rupees in taxes. ADR to be replaced by fixed maximum slab ratios. ISLAMABAD: The federal government plans to add … Read more
A representative image of containers stored at a facility. — AFP/file KARACHI: Pakistan’s exports to the European Union (EU) increased by 14 per cent to $4.8 billion in the first five months of the current fiscal year, compared to $4.2 billion in the same period last year, official trade data showed. In November alone, exports … Read more
A representative image of pylons and power lines. — Reuters/File The Ministry of Energy writes a letter to the Ministry of Finance in this regard. The FY25 budget includes Rs 1,229 billion in energy subsidies. The IMF recommends institutionalizing anti-theft procedures. ISLAMABAD: To avoid slippages due to the escalation of circular debt agreed with the … Read more
A currency dealer counts US dollar notes at a currency exchange office in Karachi on May 26, 2023. — PPI FDI flows in November jumped 27% to $219 million. China remains the leading investor with $469 million in FDI. The UK contributed $113 million from July to November. Pakistan’s net foreign direct investment (FDI) increased … Read more
President Asif Ali Zardari (center) in a group photo with Chinese business delegations who visited him, at Bilawal House Karachi, December 12, 2024. — PID A trade delegation led by Chinese Consul General in Karachi, Yang Yundon, met President Asif Ali Zardari and expressed interest in investing $1 billion to establish a medical city in … Read more
A currency changer counting $100 bills. — AFP/File Stable flows from the UAE “reflect” strict exchange controls. The SBP and the government expect remittances to reach a record high of $35 billion in FY25. During political unrest, remittances have demonstrated resilience. KARACHI: Data from the State Bank of Pakistan (SBP) on Monday revealed that remittances … 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
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 currency dealer counts Pakistani rupees and US dollars at his store in Karachi. -Reuters Mandate extension reflects Saudi Arabia’s continued support for Pakistan: SBP. “Act to contribute to the economic growth and development of the country. » The $3 billion deposit agreement was also extended to 2022 and 2023. The Saudi Fund for Development … Read more
Tesla CEO and X owner Elon Musk listens as US President-elect Donald Trump speaks during a meeting with House Republicans at the Hyatt Regency Hotel in Washington, DC, USA, on November 13, 2024. — Reuters A Delaware judge ruled Monday that Tesla CEO Elon Musk is still not entitled to $56 billion in compensation, despite … Read more
The seal of the International Monetary Fund is seen in Washington DC, USA. — AFP/File Failed targets include FBR revenue and health and education expenditure. Provinces fail to change their farm tax laws before the October deadline. Some pending responsibilities will be transferred from federal to provincial governments. ISLAMABAD: The Finance Ministry has admitted its … Read more
A shopper walks past an advertisement for Black Friday sales displayed in a Pentagon City store window in Arlington, Virginia, the United States, November 27, 2024. — Reuters Shoppers in the United States collectively spent around $10.8 billion on Black Friday, News reported citing data from an updated Adobe Analytics report. Black Friday, the shopping … Read more