By Staff Reporter
ISLAMABAD: The government on Wednesday appointed Rashid Mahmood Langrial as the new chairman of the Federal Board of Revenue (FBR), replacing Malik Amjed Zubair Tiwana who sought early retirement, a notification said.
Economy
Pakistan secures $12bn debt rollover commitments from China, Saudi Arabia, UAE – Bloomberg
By Staff Reporter
ISLAMABAD: Pakistan has secured commitments from China, Saudi Arabia and the United Arab Emirates to rollover debt for a year, a boost for the nation as it awaits a final approval for its new $7 billion loan program with the International Monetary Fund, Bloomberg reported on Tuesday.
Top business chamber seeks forensic audit of IPPs
By Staff Reporter
ISLAMABAD: Pakistan’s highest electricity tariffs in the region have prompted the country’s top business chamber to seek a Supreme Court-ordered forensic audit of independent power producers (IPPs), amid allegations of excess payments and sector irregularities.
FBR’s TTS and the rise of illicit cigarettes
By Staff Reporter
ISLAMABAD: The much-hyped Track and Trace System (TTS) has failed to bring major tax-evading sectors into the tax net, primarily due to the Federal Board of Revenue’s (FBR) inability to implement the technology-based solution seamlessly.
Weekly inflation eases as essentials get cheaper
By Staff Reporter
ISLAMABAD: The short-term inflation rate eased to 18.4 percent in the week ended August 1, the lowest since May 2022, as prices of food and energy items declined, official data showed on Friday.
ECC approves 100,000-tonne urea import to avert supply disruption
By Staff Reporter
ISLAMABAD: The Economic Coordination Committee (ECC) has approved the import of 100,000 tonnes of urea to mitigate potential supply disruptions during the upcoming cropping season, a government statement said on Friday.
PM Sharif requests debt reprofiling from China
By Staff Reporter
ISLAMABAD: Pakistan has asked China to reprofile its debt, Prime Minister Shehbaz Sharif said on Friday, as the country strives to secure a $7 billion bailout from the International Monetary Fund (IMF) by the end of the month.
Pakistan to whitelist VPNs, block others in regulation push
By Staff Reporter
ISLAMABAD: Pakistan plans to regulate virtual private networks (VPNs) by whitelisting some and blocking others, the country’s telecommunication authority said on Thursday, as it seeks to curb the surge in VPN usage since the ban on X, formerly Twitter.
July inflation slows to 11.1pc y/y, lowest since Nov 2021
By Staff Reporter
ISLAMABAD: The headline inflation rate eased to 11.1 percent in July from 12.6 percent in June, the lowest level since November 2021, data from the Pakistan Bureau of Statistics (PBS) showed on Wednesday.
Pakistan receives bids from Chinese firms for Panda bond issuance
By Staff Reporter
ISLAMABAD: Pakistan has received five bids from Chinese firms to help it raise funds through Panda bonds, as the country seeks to return to global capital markets after making progress in shoring up its finances, Bloomberg reported on Thursday.