PSX Presents Federal Budget 2024-25 Proposals for Economic Growth and Employment Generation in Pakistan
Pakistan Stock Exchange (PSX) has submitted a series of important tax proposals to the Ministry of Finance (MoF) and the Federal Board of Revenue (FBR) for consideration in the federal budget for the fiscal year 2024-25. The measures recommended are revenue positive and will encourage resource allocation towards productive and documented sectors of the economy. This is important for economic growth and employment generation in Pakistan.
Mehfooz
PM invites China’s NORINCO firm to invest in KCR
Prime Minister Shehbaz Sharif invited the China Northern Industry Corporation (NORINCO) to invest in Pakistan’s communications infrastructure project, particularly the Karachi Circular Railway.
Editor
FPCCI’s demand to bring retail tax on final stage, cut in mark-up and power tariff
Federation of Pakistan Chambers of Commerce and Industry (FPCCI) demanded of the government to reduce the interest rate to 12 percent. The electricity price should be reduced to 9 cents for all industries. Contracts with Independent Power Producers (IPPs) should be revisited. Cross subsidies of Rs 240 billion should be eliminated and tax on the retail sector should be taken at the final stage.
Adil Aziz
Telenor commitment to greener, sustainable future on World Environment Day
This year’s theme, ‘Land Restoration,’ deeply resonates with Telenor Pakistan’s mission to minimize environmental impact and champion sustainable practices.
US is top export destination of Pakistani products
The United States (US) remained the top export destination of Pakistani products during the first ten months of the current financial year 2023-24, followed by China and the United Kingdom (UK).
ADB approves financing to boost Public–Private Partnerships in Pakistan
The Asian Development Bank (ADB) has approved a $250 million policy-based loan to help the Pakistan drive sustainable investments in infrastructure and services through public–private partnerships (PPPs).
Chinese Companies keen to invest in Pakistan‘s mobile phones, e-bikes and Fin-tech sectors
Chairman of Chinese firm Transsion Holdings Zhu Zhaojiang called on Prime Minister Shehbaz Sharif here and conveyed his company’s interest in enhancing investment in mobile phone manufacturing unit, and investing in electric bikes, modern agriculture, mobile phone manufacturing and Fin-tech sectors.
Women, shaping tomorrow’s policy for non-Banking microfinance sector
The Securities and Exchange Commission of Pakistan (SECP), in collaboration with Asian Development Bank (ADB) held a workshop on “Women Equifin: Shaping Tomorrow’s Policy for NBMFCs,” marking a significant milestone in gender equality in the microfinance sector. The workshop launched a draft Women Equality in Finance Policy Framework, based on industry insights and stakeholder feedback.
Pay with JazzCash QR at cattle markets on Eid
To streamline financial transactions at cattle markets ahead of Eid-ul-Azha, JazzCash has partnered with the State Bank of Pakistan (SBP) to enable interoperable RAAST QR codes for payments at cattle markets nationwide. The initiative is poised to replace cash-based transactions with secure, efficient digital payments, ensuring safe and secure transactions.
Unity Foods Partners with The Green Ark to Recycle Plastic waste
Unity Foods continues to showcase a strong commitment to ESG principles through a partnership with The Green Ark (TGA). A MoU was signed to this effect between both companies whereby TGA will collect and transform scrap materials from Unity Foods to create a diverse array of recycled products intended for reuse. The initiative aims to facilitate the circular economy by mitigating the impact of single-use plastics that contribute significantly towards the deterioration of global ecosystems.