By Staff Reporter
KARACHI: Weekly inflation jumped to a record 45.5 percent year-on-year as deadly floods have devastated a wide swath of farmlands, rupturing food supply lines across the country.
top-economy
Saudi Arabia to invest $1 billion in Pakistan
By Staff Reporter
ISLAMABAD: Saudi Arabia plans to invest $1 billion in Pakistan to support the country’s economy, official Saudi Press Agency (SPA) reported on Thursday.
FDI drops to $59 million in July
By Staff Reporter
KARACHI: Pakistan’s foreign direct investment (FDI) fell 43 percent to $59 million in July from $103.8 million same period last a year ago, the central bank data showed on Wednesday.
New tax on tobacco and cigarettes to keep Pakistan on-budget
New taxes to keep government on-budget
Keeping the country solvent is an important priority, but marshalling resources for floor relief and rehabilitation needs to move up the ladder.
New tax on tobacco and cigarettes to keep Pakistan on-budget
President Alvi signs ordinance raising taxes on tobacco products
By Staff Reporter
ISLAMABAD: President Arif Alvi on Monday signed an ordinance further raising taxes on tobacco products to generate an additional revenue of Rs38 billion ahead of the International Monetary Fund’s crucial board meeting on Pakistan’s bailout funding.
Pakistan ends ban on import of luxury goods, plans heavy taxes
By Staff Reporter
ISLAMABAD: The government has lifted an import ban on luxury goods, but has also planned heavy taxes and duties between 400 to 600 percent on such items to curb imports, a minister said on Thursday.
Pakistan assures IMF on petroleum levy to win $1.17bln loan
By Staff Reporter
ISLAMABAD: Pakistan has assured the IMF on a phase-wise increase in tax on petroleum products, citing a further raise of Rs10 per liter planned from September 1, officials said.
Pakistan’s letter off to IMF for bailout revival
The stage now seems set for the revival of the program and disbursement of a USD 1.17 billion tranche before August is out. By Muhammad Ali.
Finance Division chronicles Pakistan’s 75-year economic journey
The 49-page document includes colourful boxes and infographics to highlight key milestones in the country’s economic history.
By Staff Reporter.
Car sales hit speed bump in July, seen decelerating further
By Staff Reporter
KARACHI: Car sales plunged by 59 percent in July as high borrowing costs, tight credit and a slowing economy dragged down demand, an industry body said on Friday.