Tax on transactions backfires as Pakistan’s cash in circulation surges by a record 31pc

The government's efforts to broaden the tax net by levying the withholding tax seems to have backfired as money in circulation surged by a...

Punjab govt frustrated over impossibility of 8% economic growth rate target

  According to high level officials of Punjab’s economic team there is an absolute disorder and lack of clarity among Punjab’s economic policy makers with...

Pakistan’s economic profile luring foreign investments: Ahsan Iqbal

  Pakistan’s remarkable economic turnaround and its historic success against the menace of terrorism in the past three years is luring international businessmen which now...

Tariq Bajwa appointed as Finance Secretary

The government has appointed Tariq Bajwa, a BS-22 officer of Secretariat group as Secretary Finance Division on Friday. The notification issued by the Establishment Division...

Chinese firms eye Pakistan amid Beijing’s ‘Silk Road’ splurge

  Chinese companies are in talks to snap up more businesses and land in Pakistan after sealing two major deals in recent months, a sign...

SBP governor directs banks to focus on agriculture credit

    State Bank of Pakistan Governor Ashraf Mahmood Wathra has urged the banks to understand the needs of the economy and focus on agriculture financing...

OMCs’ sales up by 8pc in January

    Oil Marketing Companies (OMC) sales remained slightly lower than estimates at 8 per cent in January 2017 compared to last January of 2016, while...

Engro Foods posts PAT of Rs 2.386b in 2016

    The Engro Foods (EFOODs) on Friday announced full year net profit after tax (PAT) of Rs 2.386 billion in 2016 down by 25 per...

TDAP responsible for falling exports, say exporters

    In a scathing criticism on the annual performance of the Trade Development Authority of Pakistan (TDAP), exporters have said that the export promotion agency...

PSO’s liquidity position causes Rs 60b loss to exchequer

  Liquidity position of Pakistan State Oil (PSO) has further worsened as banks have imposed Rs 60 billion heavy penalty on state-owned oil giant (PSO)...

Mian Mansha brings Hyundai cars back to Pakistan

South Korean carmaker Hyundai Motor Co is expected to resume assembling of cars in Pakistan, according to a statement sent to PSX by Nishat...

Lobbying in the ruling party delays appointment of finance secretary

A disagreement within the ruling PML (N) party has delayed the appointment for the permanent slot of federal finance secretary, reported a national daily....

 Tax collection falls short of target despite a 7pc rise

The tax collection rose by 7pc to Rs 1.7 trillion in the first seven months of the current fiscal year but it has continued...

SBP to issue Rs50 coin in commemoration of Late Abdul Sattar Edhi

State Bank of Pakistan will issue a Rs 50 coin in commemoration of the late Abdul Sattar Edhi in March 2017 as an appreciation...

SAARC commerce and industry delegation calls on Sartaj

Adviser to the Prime Minister on Foreign Affairs Sartaj Aziz reaffirmed Pakistan's commitment to regional cooperation under the umbrella of the South Asian Association...

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Rs100 billion worth of tax fraud discovered by FBR

KARACHI: The country's corporate sector has been found involved in at least Rs100 billion of tax evasion and avoidance during the last four months,...

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Oil slips below $62 as trade talks drag on

LONDON: Oil fell for a second day on Tuesday, dropping below $62 a barrel on limited progress toward resolving the US-China trade dispute, higher...