IMF program has resumed with the board approving US$1bn tranche
The wait is finally over. IMF program has resumed with the board approving US$1bn tranche, taking cumulative program disbursements to US$3bn (or 50.0% of the total program disbursements). Personal income tax reforms, further harmonization of GST and power sector reforms would continue to form base of the program, going forward. The extent of reforms under…
Adil Aziz
Economy to grow by 5% this year, 6% next year: Shaukat Tarin
Federal Minister for Finance and Revenue, Shaukat Tarin said here on Thursday that despite commodity price shocks in the international market, the economy of the country would grow by 4.5 percent to 5 percent during the current fiscal year and by 6 percent next year. “I am still hoping that it (growth rate) could be…
Ufone contributes free high-speed internet devices ‘Blaze’ to KP Women Civic Internship Program
Pakistani telecom company, Ufone 4G has provided its flagship Wifi internet device; ‘Blaze’ to each participant of the Khyber Pakhtunkhwa Women Civic Internship Program, to support their pursuit for personal and professional growth and gratification. The first cohort of the Women Internship Program is a joint partnership between Khyber Pakhtunkhwa Information Technology Board (KPITB), Code…
ADB proposes measures to maximize CPEC benefits
The Asian Development Bank (ADB) has proposed certain policy actions to fully explore the potential benefits of China Pakistan Economic Corridor (CPEC) and to raise income from exports and enhance fiscal capacity of the government A case study on Economic Corridor Development (ECD) in Pakistan released by the ADB on Wednesday proposed to utilize the…
IMF Executive Board to hold Sixth Review of Pakistan Economy Today
ISLAMABAD: A session of the International Monetary Fund (IMF) Executive Board for review of Pakistan’s economy has been scheduled in Washington on Wednesday The Sixth Review and release of $1 billion tranche under the Extended Fund Facility (EFF), scheduled on January 12, 2022 and later January 28, was postponed twice earlier after receiving request from…
Pakistan-UK strategic partnership deepening in diverse fields: Envoy
Pakistan’s High Commissioner to UK Moazzam Ahmad Khan has stated that as the United Kingdom was Pakistan’s strategic partner, this partnership was deepening through growing linkages in diverse fields. UK, being the 3rd largest export market for Pakistani products, accounted for approximately 8% of Pakistan’s global exports, he added. The High Commissioner was addressing a…
Bank Alfalah delivers solid performance; PAT up by 36% and Equity crosses PKR 100 Billion
Bank Alfalah Limited (BAFL) announced its financial result for the year ended December 31, 2021, where the Bank posted profit after tax of PKR 14.217 bn (EPS PKR 8.00) for the year compared to PKR 10.475 bn (EPS PKR 5.89) reported the last year, an improvement of 35.8% year on year (YoY). Revenue increased by…
FBR launches automated currency declaration system
The Fedreral Board of Revenue (FBR) on Tuesday has launched an automated currency declaration system to facilitate the tax payer Achieving yet another significant milestone towards automation and data integration in order to facilitate the taxpayers and the passengers flying in and out of the country, FBR has launched ‘Automated Currency Declaration System’ this afternoon….
Pakistan’s Textile Exports to hit new heights as regional orders divert: Report
ISLAMABAD: Pakistan’s textile exports are expected to hit new heights after orders from regional competitors, Indian and Bangladesh, are being diverted to the country owing to the COVID pandemic and facilitation provided to the sector from the incumbent government. This was the crux of a Bloomberg report which quoted Adviser to Prime Minister on Commerce…
Careem maps over 600 Government Vaccination Centres (recognised by NCOC), on its Super App
With the mission of simplifying and improving the lives of people in the regions, Careem, the Super App for the greater Middle East and Pakistan has partnered with National Command and Operations Center (NCOC) to map 600 government vaccination centres on its Super App. People can now book a ride to and from the centres…