Stuck between a rock and a hard place; govt to impose Rs170b additional taxes
ISLAMABAD: After a deadlock in negotiations for over 5 months and a week worth of negotiations, the Federal government has surrendered before...
Emirates and Turkish Airways ditch local travel agents in a bid to circumvent govt’s restrictions on remitting their earnings
LAHORE: International airlines have resorted to pricing out local travel agents in a bid to encourage purchases through credit cards, and international...
Fitch downgrades Pakistan’s issuer default rating to CCC-
ISLAMABAD: The international ratings agency, Fitch has downgraded Pakistan’s Long-Term Foreign-Currency Issuer Default Rating (IDR) to 'CCC-', from 'CCC+'.
An Issuer Default Rating...
Alvi advises Dar to take parliament into confidence on issuance of tax ordinance
ISLAMABAD: President Dr Arif Alvi on Tuesday advised Finance Minister Ishaq Dar to take the parliament into confidence and call immediate session...
Virgin Atlantic decides to end operations in Pakistan. But why?Â
LAHORE: Less than two years after launching operations in Pakistan, British airline Virgin Atlantic has decided to call it quits. According to...
Remittances fall lower than during peak COVID
ISLAMABAD: According to the latest data by the State Bank of Pakistan, workers’ remittance for the month of January has dropped by...
FTO accuses Millat of fraud during tax period 2017 to 2022
ISLAMABAD: The Federal Tax Ombudsman (FTO), per their latest ruling in their investigation against Millat Tractors, has directed the Federal Board of...
Import restrictions create shortage of steel bars
ISLAMABAD: Following the restriction on imports for non-availability dollars, the country has now started facing a severe shortage of steel rebars as...
OMAP announces helpline for smooth supply of POL products
LAHORE: The Oil Marketing Association of Pakistan (OMAP) has announced plans to establish a helpline for the smooth supply of petroleum products...
Pakistan to get only nonstop flight route to African continent
LAHORE: Ethiopian Airlines’ decision to initiate flights between Karachi and Addis Ababa on March 26 is set to be historic. Ethiopia’s flag...
K-Electric files generation tariff petition for its power plants
K-Electric (KE) has filed a tariff petition for its power generation plants with the National Electric Power Regulatory Authority (NEPRA) from July...
GPCCI asks Governor SBP for help against propaganda about access to letters of credit
LAHORE: The German Pakistan Chamber of Commerce and Industry (GPCCI) has penned a letter to Jameel Ahmad, Governor State Bank of Pakistan,...
ECC approves discontinuation of Kissan, Zero Rated Industrial packages
ISLAMABAD: The Economic Coordination Committee (ECC) has approved the discontinuation of the Kisan Package as well as Zero Rated Industrial package from...
Pharmaceutical industry fears shortage of medicines if govt does not intervene
ISLAMABAD: Several multinational firms for example, fear being forced to suspend manufacturing. Non-availability of raw materials and a huge jump in the...
Ghandhara Tyre announces plant shut down for FebruaryÂ
LAHORE: Ghandhara Tyre & Rubber Company Limited has notified the Pakistan Stock Exchange that it will observe non-production days from February 13...