IMF proposes government to raise GST to 18% as part of comprehensive fiscal adjustment
IMF has recommended bolstering revenue collection at the import stage because of 26% depreciation of the rupee since January 2018 and imminent depreciation under its programme
Pakistan goes against the grain with coal power spree
Environmental concerns about Pakistan's coal spree go beyond the villages of Thar. The UN has warned that the country risks an “absolute” water shortage by 2025, and activists have warned about the impact of such industries on increasingly scarce water supplies
SBP reserves drop by $196m, stand at 7.4bn
KARACHI: The total liquid foreign reserves held by the country stood at $13.8 billion on November 9, 2018.
According to data released by the...
‘Cryptocurrency can be used among Islamic countries’
IBF chairman says an IMF-like fund should be established among Islamic states
ISTANBUL: A common cryptocurrency system should be formed among Islamic states,...
BOI formulating new strategy to attract foreign investment
'Board has devised a digital visa process for foreign investors, enabling them to acquire business visa in few weeks instead of six...
Current account deficit balloons 34% MoM in October to $1,218 million
In the first four months (July-October) of current FY19, current account deficit has fallen by 4.6% year-on-year (YoY) to $4,840 million
AIIB keen to invest $1bn in Pakistan
'Bank plans to finance $100m on Karachi Bus Rapid Transit Project, $400m on Rawalpindi Ring Road'
BEIJING: The Asian Infrastructure Investment Bank (AIIB)...
Pakistan’s reserves adequacy lowest among rated sovereigns: Moody’s
Moody’s stated the share of foreign currency debt is relatively low at approximately 35% of total government debt
Fresh audit reveals PIA’s market share greatly diminished between 2008-2017
According to the audit report, the state-owned airline couldn’t continue as a going concern without the assistance of the government since it had accumulated a loss of Rs361 billion till December last year
GNL set to launch Renault trucks in Pakistan
GNL will be responsible for the import, distribution and after-sales service of the three new ranges and also the CKD assembly at its manufacturing site located at Port Qasim, Karachi by the end of next year
PSO receivables balloon to Rs345 billion
According to PSO, receivables include Rs268.5 billion from the power sector, Rs43.9 billion from Pakistan International Airlines (PIA) and government and Rs32.6 billion from the Sui Northern Gas Pipeline Limited (SNGPL)
IMF calls government to relinquish its role of notifying electricity rates
IMF delegation asked authorities to undertake further revisions to the Nepra Act to ensure automatic notification of quarterly, annual and multi-year tariffs ascertained by the regulator on the lines of monthly fuel price adjustment announced directly by Nepra
Engro needs a year for next LNG import terminal decision
Royal Dutch Shell, trading house Gunvor and local company Fatima are partners in Engro’s second planned terminal which would be located at Port Qasim with a Floating Storage and Regasification Unit (FSRU) vessel processing the gas
Saudi Arabia to disburse $3 billion aid to Pakistan in next few days
The ambassador said the Saudi government will also provide oil facility to Pakistan worth $3 billion annually, on deferred payment
‘Terms for Chinese assistance being worked out but numbers can’t be revealed’
ISLAMABAD: Chinese Deputy Chief of Mission (DCM) Zhao Lijian said on Wednesday that the modalities of Chinese assistance to Pakistan are being...