The federal cabinet has approved a residential project worth $2 billion for the overseas Pakistanis to invest in real estate by making remittances through their Roshan Digital Accounts. The project will be executed at Park Road, Zone-4 of the federal c…
The Federal Board of Revenue (FBR) has introduced a mandatory requirement of six documents for the claim of duty drawbacks on local supplies, free of duty imports, and taxes to avoid any misuse of the facility.The FBR issued an amendment draft in Custo…
The Federal Minister for Finance and Revenue, Shaukat Tarin, has said that he will dismiss the Governor State Bank of Pakistan if he did not support the government in economic matters after the approval of the SBP Amendment Bill.The Minister of Finance…
Askari Securities Limited, a subsidiary of Askari Bank Limited, will get merged with Foundation Securities Limited, a subsidiary of Fauji Foundation.According to stock filing, the Board of Directors of Askari Bank Limited, Askari Securities Limited, an…
The Pakistani Rupee (PKR) managed to hold out against the US Dollar (USD) in the interbank market today. It hit an intra-day high of Rs. 176.55 against the latter during today’s open market session.While redundant, it depreciated by 0.01 percent agains…
An overwhelming number of investors have shown their interest in the establishment of LNG terminals/ virtual pipelines at Karachi and Gwadar Ports, and applications for at least seven LNG licenses are in various stages of considerations.According to of…
International banks like the China Exim Bank and the International Islamic Trade Finance Corporation (ITFC) are charging up to 6.5 percent interest per annum on lending to Pakistan while loans from Italy and China Development Bank are interest-free.Acc…
Rice Export Association of Pakistan (REAP) has expressed concern regarding the withdrawal of the zero-rating status of various export-oriented sectors in the Finance (Supplementary) Bill 2021, reported Business Recorder.REAP termed the bill as a “devas…
Three to four companies have hijacked the entire electricity system, said the Federal Secretary Ministry of Water & Power, Hyder Shah, during a meeting of the National Assembly Standing Committee on Power.The secretary expressed frustra…
Federal Secretary Power, Asif Hyder Shah, has said that by the end of the current fiscal year, the circular debt would be reduced by Rs. 350 billion.While talking to ProPakistani, Secretary In-charge Power Division said that the circular debt is now ac…
