Pakistan has emerged as the world’s second most improved economy in lowering its sovereign default risk, according to the latest data released by Bloomberg. The country ranked just behind Turkiye among global emerging markets that recorded major progress over the past fifteen months. Advisor to the Finance Minister Khurram Schehzad shared that Pakistan is the…
The local bourse kicked off rollover week on a volatile footing, as profit-taking spells weighed on sentiment. The benchmark index swung sharply, hitting an intraday high of 812 points before slipping to a low of 791 points, and eventually closed at 157,554 — down 482 points or 0.31%. Caution also stemmed from a rise in…
Aftab Ahmed ISLAMABAD: The Islamabad High Court (IHC) has ordered the immediate dismissal of National Bank of Pakistan (NBP) Chairman Zubyr Soomro and President/Chief Executive Officer Arif Usmani from their positions. The reserved verdict was announced by Justice Mohsin Akhter Kiyani on Tuesday. On June 12, the IHC reserved its decision on four similar petitions…
Aftab Ahmed Islamabad: To check the further revenue bleeding of more than reported to the Federal Board of Revenue (FBR), the top four powerful sectors—Cigarette, Beverages, Sugar & Cement—will soon have a “Track & Trace” system, Shaukat Tareen shared with mediamen here on Saturday. The last hitch to operationalize the company, who has been awarded…
News Report Budget size of the FY22 budget expected to be around Rs 8487 billion The tax revenue target for FY22 will be around Rs 5829 billion The non-tax revenue target for FY22 will be around Rs 2080 billion The total revenue target would be around Rs 7909 billion As per NFC distribution provinces to…
News Report Moscow: The Russian government has lifted the ban on the import of Pakistani rice after two years when Pakistani authorities assured the Russian to comply with SPS, an official of the Pakistani Mission in Moscow told this scribe. Pakistan has been struggling since 2019 to convince Russian authorities to allow the resumption of…
News Report Islamabad: The ECC of Cabinet has expressed the government’s commitment to providing $1.1 bn for procurement of COVID-19 Vaccine for achieving the vaccination target (minimum 45 million and maximum 65 million) till December 2021. The ECC in its meeting of May 31st, 2021 had already approved $ 130 million (equivalent to Rs. 20…
Balochistan Mineral Exploration Company (BMEC) receives an unsolicited proposal from a domestic joint venture consortium to develop Tanjeel & Rekodiq reserves in Chagai Special Report Quetta: Balochistan Mineral Exploration Company (BMEC) – a JV of Government of Balochistan (90%) and Government of Pakistan (10%) and the concession holder of EL199 (consisting of Rekodiq & Tanjeel…
Aftab Ahmed While breaching the information securities policies and conducting criminal negligence, the SECP Commissioner Shaukat Hussain at the end of his 3-year term as Commissioner took along his official laptop carrying sensitive information, data, reports, investigations, and draft of various policy documents, etc. His 3-year term as Commissioner SECP completed on March 26, 2021….
A leading Pakistan textile Company—Al-Karam Textile Mills—has signed a six-year license agreement with a US top brand in clothing and accessories retails—GAP Inc. Meanwhile, In a tweet, Prime Minister’s advisor on Commerce Abdul Razak Dawood said, “I congratulate Al Karam Textile Mills for signing the six years’ license for home textile with GAP Inc.” The…