By Staff Reporter
ISLAMABAD: The All Pakistan Textile Mills Association (APTMA) Saturday aired an urgent appeal for the government of Prime Minister Shehbaz Sharif to lift a suspension of LNG for export oriented industries including the textile sector.
By Staff Reporter
ISLAMABAD: Pakistan and its development partner, the IMF, are stretching their negotiatory limits to carve out a consensus on Prior Actions (PAs) for a staff accord, but the talks are stalemating as the lender is not backing down on its demand for putting a powerful anti-corruption watchdog among the dirty government officials from top to bottom.
By Staff Reporter
ISLAMABAD: Chairman Federal Board of Revenue (FBR) Asim Ahmad told journalists Friday in the presence of Federal Minister for Finance Miftah Ismail that the authorities had started collecting data from National Database and Registration Authority (NADRA) to help broaden of tax base.
By Staff Reporter
ISLAMABAD: Official data published Friday put the crucial Consumer Price Index (CPI) for the month of June 2022 at 21.32 percent, up 6.34 percent month-on-month from the level reported for May, a reflection of how the purchasing power of the common Pakistani is evaporating in thin air.
By Staff Reporter
ISLAMABAD: The Federal Board of Revenue (FBR) has surpassed its annual tax collection target by topping up the government’s coffers with Rs6,125 billion in the outgoing fiscal year 2021-22 ending on June 30, 2022, latest numbers showed late on Thursday, mainly because of increase in imports and massive devaluation of the exchange rate.
By Staff Reporter
KARACHI: Pakistan’s foreign exchange reserves sharply rose by $1.985 billion or 14 percent as of June 24 on $2.3 billion inflows from China , the central bank said on Thursday.
By Staff Reporter
ISLAMABAD: Minister for Finance Miftah Ismail on Thursday said the government imposed the petroleum levy in the range of Rs5-10 per liter on petroleum to thaw the frozen IMF funding to avoid failing on international obligations.
By Staff Reporter
KARACHI: The State Bank of Pakistan (SBP) on Thursday shelved new disbursements under Mera Pakistan Mera Ghar (MPMG) scheme till August 31, 2022 and Prime Minister’s Kamyab Jawan Youth Entrepreneurship Scheme (PMKJ-YES) for next 15 days in an attempt to narrow the budget deficit to meet IMF bailout goals.
By Staff Reporter
ISLAMABAD: The exporting sector’s gas supply has been choked for the second time within a month, which industry officials say disrupts production cycle of textiles, causing delays in delivering international orders, thus slowing down inflows of export proceeds.
By Staff Reporter
ISLAMABAD: The government on Thursday imposed part of the Petroleum Levy on fuels, driving the prices of petroleum products up by Rs15-18, to the utter dismay of the inflation-gutted consumers.
