Pakistan’s Liquid Foreign Reserves Position
The total liquid foreign reserves held by the country stood at US$ 14,473.5 million as of 2-Sep-2022. The break-up of the foreign reserves position is as under:- Foreign reserves held…
Pakistan lifts ban on import of cars, phones, luxury items
KARACHI: Government has lifted ban on all import of luxury and non-essential items. The ministry of commerce issued SRO 1562(I)/2022 for lifting the ban on luxury and non-essential items, including…
Acting Governor unveils Commemorative Banknote to mark 75 years of Pakistan’s Independence
Acting Governor State Bank of Pakistan (SBP) Dr. Murtaza Syed unveiled a Rs. 75 Commemorative Banknote to mark the 75th Anniversary of Pakistan’s Independence in a ceremony held at the SBP Museum, Karachi on…
Political backdrop of Budget should not be ignored
KARACHI: Political noise has been fever pitch in the last few months as the recently ousted PM Imran Khan demanding immediate elections. Even if the government is able to withstand…
Key taxation measures expected in FY23 Budget
KARACHI: Pakistan Federal Budget FY23 Preview with tax revenue target of Rs7.25trn for FY23, analysts expect new taxation measures across various sectors in the upcoming budget. Supertax: FBR is mulling…
Government to set tax revenue collection target of Rs7.25trn for FY23
KARACHI: Government is likely to set tax revenue collection target of Rs7.25trn for FY23 (9.2% of GDP), which is up 19% from the revised target of Rs6.1trn (9% of GDP)…
The Government and SBP refute baseless claims circulating on social media regarding Foreign Currency Accounts, Roshan Digital Accounts and Safety Deposit Lockers
The Government of Pakistan and the State Bank of Pakistan assure all account holders maintaining Foreign Currency Accounts (FCA), Roshan Digital Accounts (RDA) and Safety Deposit Lockers in banks in…
Monetary Policy Statement
1. At today’s meeting, the Monetary Policy Committee (MPC) decided to raise the policy rate by 150 basis points to 13.75 percent. This action, together with much needed fiscal consolidation,…
Pakistan requires 7% economic growth to ease debt burden, create jobs Anjum Nisar says decline in LSM share in GDP growth to hamper govt struggling to create jobs
The Businessmen Panel (BMP) of Federation of Pakistan Chambers of Commerce and Industry (FPCCI), expressing serious concern over the slowdown in growth of big industries in the first half of…
Pakistan’s Liquid Foreign Reserves Position
The total liquid foreign reserves held by the country stood at US$ 23,720.9 million as of 04-February-2022. The break-up of the foreign reserves position is as under:- i) Foreign reserves…
Nonstop borrowing from IMF poses economic, political challenges BMP Chairman Anjum Nisar calls for exploring investment resources from private sector
Karachi: The Federation of Pakistan Chambers of Commerce and Industry’s Businessmen Panel (BMP) Chairman has warned that continued borrowing from the IMF and other multilateral sources is posing serious economic…
As minibudget ready businessmen warn of additional taxes on industry raw material, Mian Anjum says govt plan to generate Rs360b thru minibudget to spur inflation
Irfan Iqbal says more taxes on renewable energy plants to deter alternate power generation: The Federation of Pakistan Chambers of Commerce and Industry’s Businessmen Panel (BMP) has warned of…
Govt must convince IMF to soften loan terms as further taxes to ruin economy, Mian Anjum backs PM stance to approach IMF for relaxation in loan conditions
The Federation of Pakistan Chambers of Commerce and Industry’s Businessmen Panel Chairman Mian Anjum Nisar has opposed the government commitment with the IMF to increase taxes by a Rs1.27 trillion…
Rs5.36/unit hike in base electricity tariff to ruin industry
Resenting frequent increase in power tariff the Federation of Pakistan Chambers of Commerce and Industry’s Businessmen Panel Chairman and FPCCI former president Mian Anjum Nisar has strongly opposed the government…
Frequent hike in energy rates to appease IPPs will dent PM vision of reducing production cost
The Federation of Pakistan Chambers of Commerce and Industry’s ruling group has resented the frequent jump in electricity tariff and petroleum products’ prices, which is made on behest of the…
Digitalization to help rebuild world economy & e-commerce amidst COVID-19; Stability in Afghanistan crucial for peace and development of entire region: SCO Secretary-General Fehmida Mirza terms social protection an indispensable art of policymaking Hafiz Pasha says no option but to go back to IMF
Social sector development back on the radar of govts: Dr Suleri. ISLAMABAD: Vladimir Norov, the Secretary-General of Shanghai Cooperation Organization (SCO), has said that though coronavirus has incurred enormous damage…
Federal Budget 2020-2021
Federal Budget 2020-2021 is the most unrealistic document based on pure assumptions, without any calculation or working which can be authenticated or legitimized. It seems as it was necessary to…
Subsidy to K-Electric consumers reduced 57pc to Rs25.5bn
KARACHI: The federal budget 2020-21 has proposed 57 percent reduction in subsidy to K-Electric consumers for the upcoming year to Rs 25.5 billion compared with Rs59.5 billion allocation for the…
PTI government presents new taxes less, incentive less deficit budget 2020-21
ISLAMABAD: Minster for Industries Hammad Azhar presented the federal budget for the fiscal year 2020-21, wherein no new taxes have been imposed. The budget i.e. the Finance Bill is said…
Agha Shahab rejects more powers for Taxmen in the Budget
KARACHI: President Karachi Chamber of Commerce & Industry (KCCI) Agha Shahab Ahmed Khan has expressed serious concern on reports that the Income Tax officials are seeking more powers to probe…