Waiving taxes, duties on cotton imports to cost Rs29 billion to national exchequer: Report
This is in addition to an Rs25 billion gas subsidy extended to five zero-rated export-focused industries of which textile titans are the biggest beneficiaries
PIA incurs losses as half a dozen aircraft grounded: Report
Moreover, the state-owned airline is already losing millions every month under the ambit of rent of two grounded ATR aeroplanes which have been procured on dry lease
Govt jacks up property valuation rates by average 20%
This step will allow the government to rake an additional Rs5 billion in tax revenues in the last five months (Jan-Jun) of the current financial year 2018-19
China agrees to provide $2.5 billion loan to bolster foreign exchange reserves
This follows the previous $2 billion loan provided by China at the end of July last year to bolster foreign exchange reserves and it has come out as the country’s biggest economic rescuer in the past five years
Kia Lucky Motors targeting commercial production by 1st quarter FY19-20
KLM has opened company owned /third-party operated dealerships in some of the metro cities of Pakistan
PM inaugurates ‘Pakistan Banao Certificate’ scheme for overseas Pakistanis
PM vows that under his government, the Pakistani diaspora will feel proud to hail from the country
Says an IMF bailout...
SBP hikes key interest rate by 25 basis points to 10.25%
Challenges to Pakistan’s economy persist despite narrowing as the current account deficit remains high, the fiscal deficit is elevated, and core inflation remains continuingly high, said SBP
UBL’s New York branch surrenders license, concludes voluntary liquidation
In November, UBL had announced it would voluntarily liquidate and surrender its banking license in New York as per the applicable rules and regulations
How to fix the Pakistani economy
Profit speaks to five of the nation’s top experts on what the government should do in order to get the economy humming again
Pakistan Banao Certificate targeting overseas Pakistani’s to be launched on 31st January
According to details shared by the Finance Minister Asad Umar, the certificates would be of two types, one of three years offering 6.25% return and the other with five-year maturity offering 6.75% return
FBR forwards notices to schools for tax evasion: Report
The audit was commenced after information was received that the schools were retaining multiple accounts besides those officially declared for the hiding of receipts and income
Is the mini-budget a ruse?
Measures announced in the mini-budget, the confusing stance regarding approaching the IMF could weigh heavily on the government's ability to tackle the issues threatening the economy
Pakistan receives final instalment of $1 billion from Saudi Arabia
A statement from the Prime Minister’s Office in October last year said Saudi Arabia had agreed to deposit $3 billion for a period of one year as a balance of payment support
Govt presents finance bill amid ruckus in NA
–Third finance bill aims at encouraging investment, exports, promoting ease of doing business
–Super tax on non-banking companies abolished, interest on agri loans...
Pakistan, UAE to reach agreement on $3 billion support package today
Earlier this month, UAE’s crown prince Sheikh Mohammed bin Zayed Al Nahyan paid a flying visit to Islamabad and affirmed a $3 billion bailout package announced last month