By Staff Reporter
ISLAMABAD: China’s BaoSteel is likely to fire up the long-cold blast furnaces of Pakistan Steel Mills Corporation (PSMC) as the Chinese steelmaker, which has recently completed a successful due diligence tour, is eyeing a deal, the country’s privatisation managers said on Friday.
By staff reporter
ISLAMABAD: State Bank of Pakistan (SBP) on Friday received a $2.3 billion Chinese loan, which analysts termed as godsend support, as the country’s foreign reserves were barely enough for 45 days of imports a day ago.
By Staff Reporter
ISLAMABAD: The government scrambled to control damage Friday after the announcement of a 20 percent super tax sowed panic among the markets, causing the PSX to lose 2,055 points or 4.81 value in a mere 20 minutes before trading was closed to stem further damage.
By Staff Reporter
KARACHI: Pakistan Stock Exchange (PSX) crashed on Friday after Prime Minister Shehbaz Sharif announced to impose a 10 percent super tax on large-scale industries.
By Staff Reporter
ISLAMABAD: Prime Minister Shehbaz Sharif Friday said the new budget will bring a 10 percent super tax on major industries and a progressive tax on the income of those earning more than PKR 150 million, with the proceeds being spent on poverty alleviation measures.
By Staff Reporter
KARACHI: State Bank of Pakistan’s (SBP) dollar stockpile hit a 32-month low of $8.2 billion from $8.99 billion last week, latest numbers revealed on Thursday, which leaves the country with an import cover for just 1.21 months, but a top-up of likely $2.3 billion from Chinese banks could lift them to a less critical level.
By Staff Reporter
ISLAMABAD: The government is brainstorming ways and means to wring more taxes out of salaried/business class, high earners and sectors like tobacco, beverages, steel, etc before closing the budget document for next fiscal.
By Staff Reporter
ISLAMABAD: The government has finally decided to go after the wealthy to make them cough up higher taxes on top of rationalising the tax regime to ensure it’s equitable, Prime Minister Shehbaz Sharif said on Thursday.
By Staff Reporter
KARACHI: The global food conglomerate Cargill, Inc., plans to enhance and diversify its investments in Pakistan in the fields of agriculture and bio industry, reports coming from the Embassy of Pakistan, Washington DC say.
By Staff Reporter
KARACHI: The Pakistani rupee continued its rally against the US dollar overnight on Thursday after staging an initial recovery Wednesday on the back of multiple positive reports concerning the government’s macroeconomic options.
