Tuesday , December 18 2018

Recent Posts

Govt making efforts to support small and medium scale industries.

imran khan

Islamabad: Prime Minister Imran Khan on Monday mentioned his government policies to facilitate small and medium industry and exporters of the country. While delivering his speech in the 42nd award ceremony of Federation of Pakistan Chambers of Commerce and Industry in Islamabad, Prime Minister said that commerce is the backbone of …

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Asad Umar to chair ECC meeting today

Islamabad: The Economic Coordination Committee (ECC) of the Cabinet will have its meeting on Monday (Today) to discuss the market prices of the urea . The committee will be led by Federal Finance Minister Asad Umar and will take place around 3:00PM. The prices of the urea will be determined and …

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Blueprint for elevating economy formally submitted to IMF

Islamabad: Pakistan has formally submitted to the Inter­national Monetary Fund (IMF) its Memorandum of Economic and Fiscal Policies (MEFP) and see macro-economic stability as the growth strategy for the coming three years. “Yes, we have given it (MEFP) to the IMF,” confirmed Finance Minister Asad Umar when approached. “It’s under …

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State Bank, govt grilled on exchange rate

Islamabad: Amid criticism over devaluation, the government and the State Bank of Pakistan (SBP) on Friday revealed that current exchange rate has almost reached equilibrium and market conditions can clearly tell that. During Senate Standing Committee on Finance and revenue, State Bank Pakistan Governor Tariq Bajwa reluctantly agreed to discuss …

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Railways losses case: Saad Rafique appeared in Supreme Court

Khawaja Saad Rafique

Islamabad: Former railways minister Khawaja Saad Rafique was appeared before the Supreme Court on Thursday for hearing related to the losses incurred on Pakistan Railways during his tenure. A bench of the apex court led by Chief Justice of Pakistan Mian Saqib Nisar, heard the case of railway losses inflicted during Rafique’s …

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Inefficiencies in power sector cost Pakistan $18b

Islamabad: Report from the World Bank reveals that Insufficiency of the power sector inflicted a loss of $18 billion to the economy of Pakistan. World Bank reports told that economy is inflicted by the power sector inefficiencies and loss reaches up to $18 billion a year. “Reforms must go beyond …

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Govt sends notices to big landlords for tax evasion

Landlords had claimed tax exemptions from the FBR by declaring Agriculture as the source of income, regarding the evasion of income tax. It was noticed that around 75% of the people have given wrong annual income statement according to FTO’s findings as they did not bother to pay income taxes. …

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Pakistan decides to expand CPEC, several key projects to be added in JCC

ISLAMABAD – Pakistan has decided to expand CPEC projects. As per media report, Pakistan will place several key projects before the Joint Cooperation Committee (JCC) of China Pakistan Economic Corridor (CPEC) during its upcoming meeting. These projects include $2 billion Karachi Circular Railway (KCR), socio-economic development projects from all provinces for a …

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‘Economic crisis of the country has been over’, Asad Umer

Islamabad: Rejecting the stance of crushing economic situation, Finance Minister Asad Umer remarked on Tuesday that economic crisis of the country has been ‘over’. While delivering speech at the 11th South Asia Economic Summit in Islamabad, the federal Finance Minister stated, “There is no economic crisis in the year 2018 and …

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‘No urgency on IMF programme’, Asad Umer

Karachi: Finance Minister Asad Umar stated that Pakistan can wait for two months before deciding on IMF package. Asad Umer spoke recently about IMF programme, “We aren’t in a hurry, and we are covered even if it delays for two months.” That means the talk regarding possible IMF programme might …

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FBR advises central bank to pay sales tax refunds to exporters

ISLAMABAD: The Federal Board of Revenue (FBR) has issued an advice to the State Bank of Pakistan for making payment of sales tax refunds amounting to 8,741 million rupees to facilitate the exports. According to the FBR, the payment will benefit 739 claimants from five export-oriented zero-rated sectors which included …

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Foreign exchange reserve decreases by 1.26% per week

  Karachi: Foreign exchange reserves continued to show downward trend for the continuous eleven weeks and on weekly basis the value decreases by 1.26%. The continued fallen trend has put question mark on the fiscal policies and question mark on how to get out of the economic fall. The reserves have awfully …

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