By Staff Reporter
KARACHI: Pakistan plans to sharply increase imports of cotton and soybean from the United States to cut its bilateral trade surplus in half and sidestep steep tariffs imposed by President Donald Trump, Bloomberg reported on Wednesday.
By Staff Reporter
A surge in smuggled and tax-evaded cigarettes is draining Pakistan’s national exchequer of an estimated Rs324 billion annually, according to a new survey, exposing critical gaps in enforcement and unintended consequences of aggressive tax hikes on legitimate tobacco products.
By Staff Reporter
ISLAMABAD: Barrick Gold Corp. is in advanced talks to secure over $2 billion from international lenders for its Reko Diq copper-gold mine in Pakistan, a pivotal project poised to transform the South Asian nation into a top-tier mining hub.
By Staff Reporter
ISLAMABAD: Prime Minister Shehbaz Sharif on Tuesday issued a sweeping invitation to global investors, including Saudi Arabia, China, the US, and the European Union, to tap into the country’s $6 trillion mineral reserves, as Islamabad races to unlock an underdeveloped sector critical to stabilising its debt-strapped economy.
Inflation rate slowed to 0.7 percent in March, the lowest in over three decades, driven by weak demand and economic reforms, with urban inflation falling to 1.2 percent and rural inflation remaining flat.
The headline inflation is expected to remain steady within a 1-1.5 percent range in March, according to the Finance Division’s Monthly Economic Update and Outlook. However, the ministry warned that inflation could edge up to 2-3 percent in April due to potential volatility in food and energy prices. The country’s inflation has been on a declining trend since peaking at 38 percent in May 2023, and the government’s efforts to tighten spending and boost revenue have led to a primary surplus and a narrowed fiscal deficit.
By Staff Reporter
ISLAMABAD: The Pakistan Meteorological Department (PMD) issued a drought alert on Monday for Sindh, Balochistan, and Punjab provinces, where rainfall from Sept. 1, 2024, to March 21, 2025, was 40 percent below normal.
By Staff Reporter
KARACHI: Pakistan’s consumer price index (CPI) is expected to drop to a nine-year low in January, with inflation forecast to range between 2.5 percent and 3.0 percent year-over-year, a research report by brokerage Topline Securities showed.
By Staff Reporter The Federal Board of Revenue (FBR) has identified tax evasion due to smuggled tobacco as a key factor of tax losses to
By Staff Reporter
The International Monetary Fund (IMF) has reported that Pakistan’s tax compliance gap stands at 3.5 percent of its Gross Domestic Product (GDP), with key sectors including retail, transport, and real estate contributing significantly to the shortfall.
