Tax on freelancers should be abolished: PAFLA
The government should remove the tax on the income of freelancers who are earning precious foreign exchange for the country through working on different projects for foreign clients. In a budget proposal sent to the government and relevant authorities, the Pakistan Freelancers Association (PAFLA) demanded the government for removing the variable tax rate ranging 1%…
Adil Aziz
ECC approves over Rs 422 bln supplementary grants
The Economic Coordination Committee (ECC), approved Supplementary and Technical Supplementary Grants (TSG) of Rs 422.3 billion in favour of various divisions. Federal Minister for Finance and Revenue Senator Mohammad Ishaq Dar chaired the ECC meeting. The ECC accorded approval to the summary of Ministry of Communications for issuance of Government of Pakistan’s (GoP) guarantee amounting…
Pakistan rents out Roosevelt Hotel to New York for US$220 million
PAKISTAN Has rented out its iconic Roosevelt Hotel to the New York City government for three years, helping the cash-strapped country earn US$220 million from the deal. The New York administration will pay a rent of as much as US$210 for each of the 1,025 rooms of the century-old hotel owned by state-run Pakistan International…
Plastic pollution on the rise in Pakistan: Report
Plastic pollution on the rise in Pakistan Plastic pollution is on the rise in Pakistan as authorities have taken no solid steps to control it, harming marine and riverine life besides posing threat to the health of humans as well as animals, according to an investigation report made by senior journalist M Nawaz Khuhro. The…
A joint delegation of PSX, MFA calls on Ishaq Dar
A joint delegation of Pakistan Stock Exchange (PSX) and Mutual Funds Association (MFA) of Pakistan called on the Federal Finance Minister Mohammad Ishaq Dar. The PSX was represented by its MD/CEO Farrukh Hussain and Chief Financial Officer Ahmed Ali whereas Mir Adil and Arif Qadri represented Mutual Funds. During the meeting, representatives of MFA highlighted…
PTCL recognized as the ‘Most Facilitating Employer’ at NUST Placement Recognition Awards 2023
Pakistan’s leading telecommunication and integrated ICT services provider, Pakistan Telecommunication Company Limited (PTCL) has been recognized as the ‘Most Facilitating Employer over the Last Five Years’ at the National University of Science and Technology’s ‘NUST Placement Recognition Awards 2023’. Group Chief People Officer (GCPO) PTCL & Ufone 4G, Muhammad Shoaib Baig received the award at…
Govt provide business, investment- friendly environment in country through upcoming budget
Federal Minister for Finance and Revenue Senator Mohammad Ishaq Dar assured the participants that despite economic challenges, the government is determined to provide a business and investment friendly environment in the country through the upcoming budget of Fiscal Years 2023-24. “In order to attract more companies and investments in Pakistan and put the country’s economy…
SRO. 642 on Barter Trade with Russia, Iran and Afghanistan FPCCI’s years of relentless policy advocacy paid off
Mr. Irfan Iqbal Sheikh, President FPCCI, has expressed his profound satisfaction that FPCCI’s years of relentless policy advocacy initiatives for the barter trade with Russia, Iran and Afghanistan has borne fruits. We have pitched barters trade, border markets and currency swap mechanisms very diligently in tens of top-level meetings with the concerned ministries and relevant…
SECP specifies rating requirements for investment in short-term instruments by CISs
The Securities and Exchange Commission of Pakistan (SECP) has specified rating requirements for investment in short-term debt instruments by open-ended collective investment schemes (CISs) aimed at protecting unitholders’ investment in various schemes launched by asset management companies (AMCs) and improving transparency and efficiency. “The new requirements have been notified through Circular No. 9 of 2023,…
PM directs for preparing export-oriented development budget 2023-24
Prime Minister Muhammad Shehbaz Sharif issued clear directions to include on priority, such projects in the upcoming development budget that help ensuring import substitutions, expanding export volume, and bringing innovation in various sectors. The prime minister also directed to allocate special funds in the development programme for the welfare and development of the country’s youth….