By Staff Reporter
KARACHI: At least two people were killed, and several dozens were injured on Sunday after rival political parties contesting first phase of local government elections in Sindh fired guns and scuffled, police said.
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Pakistan almost seals IMF deal with super tax
By Staff Reporter
ISLAMABAD: Mustering the much-needed courage, the government on Friday levied a super tax on big-earners to raise extra Rs466 billion, enabling itself to chase a higher tax target of Rs7.470 trillion to reclaim the IMF loan ditched by the last government.
Default Level: SBP forex reserves hit 32-month low of $8.2bn
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.
Salaried, business class brace for more taxation shocks
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.
Justice (R) Javed Iqbal, former Chairman National Accountability Bureau (NAB). Photo courtesy NAB
Reckoning for Justice (R) Javed Iqbal?
By Staff Reporter
ISLAMABAD: Tayyaba Gul claims she shared the video with the then prime minister in the hope the perpetrator of injustice against her would be brought to justice.
WASHINGTON DC: Colin D’Silva, Vice President, Cargill, Inc., in meeting with Masood Khan, Pakistan’s Ambassador to the United States. Handout photo.
US farm conglomerate eyeing investment in Pakistan
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.
Rupee continues rally against greenback, gaining PKR 4
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.
Iron brother to the rescue with a $2.3bn lifeline
By Staff Reporter
ISLAMABAD: With Pakistan well on its way to having the International Monetary Fund (IMF) revive a stalled bailout package it urgently needs, news came on Wednesday that a consortium of Chinese banks has thrown Islamabad a credit line of over USD 2 billion.
The logo of the International Monetary Fund (IMF) at the organization's headquarters in Washington, DC, May 16, 2011. The organization's director, Dominique Strauss-Kahn, faced arraignment in New York earlier Monday on allegations of sexual assault. AFP PHOTO / Saul LOEB
Pakistan, IMF achieve crucial agreement over budget targets
By Staff Reporter
ISLAMABAD: In a welcome development Tuesday night, Pakistan and the International Monetary Fund (IMF) evolved broad agreement over the next fiscal’s budget, paving the way for the revival of a stalled Fund bailout program, Independent Pakistan can report.
Long running trial of foreign funding case concludes
By Naveed Naqvi
ISLAMABAD: The Election Commission of Pakistan (ECP) on Tuesday concluded its long drawn out trial of a prohibited funding case against former Prime Minister Imran Khan’s Pakistan Tehreek-e-Insaf (PTI) party, reserving its judgement for the time being.