Business & Industry

The State Bank of Pakistan (SBP) has revised the Statutory Liquidity Reserve (SLR) requirement of the Exchange Companies from 25 percent to 15 percent of their capital. The enhanced liquidity with the Exchange Companies will enable them to channel the home remittances and foreign exchange further. During the year that ended in June 2020, the […]

Finance Minister, Shaukat Tarin, aims to include tax reforms in the coming budget that are progressive and reduce the need for interaction between the taxpayers and the authorities. The minister informed this to the Federal Cabinet in a meeting held recently, Business Recorder reported. The two aims of tax reforms highlighted by Tarin are not

Federal Minister for Industries & Production, Makhdum Khusro Bakhtyar, held a consultative session with representatives of Pakistan Automotive Manufacturers Association (PAMA) and Pakistan Association of Auto Parts & Accessories Manufacturers (PAAPAM) separately. In the consultative sessions with auto sector stakeholders to discuss the Auto Industry Development & Export Plan (AIDEP) 2021-26, the Minister said that

The Cabinet Committee on Privatization (CCOP) has started re-considering divestment of Pakistan Petroleum Limited (PPL) and Oil and Gas Development Company Limited (OGDCL), official documents from a meeting showed. The move comes in wake of rising investor interest in the exploration and production sector. The decision to divest the two companies has been in the

The Federal Minister for Finance and Revenue, Shaukat Tarin, held a meeting with the Special Assistant to the Prime Minister (SAPM) on Food Security, Jamshed Iqbal Cheema, on Farm Gate Pricing at the Finance Division.   The attendees reviewed the existing farm gate price mechanism and the problems farmers face when transporting perishable commodities (specifically

LAHORE: Pakistan’s economy contracted by 1.5 per cent during CY2020 as the Covid-19 pandemic took its toll through the year, leading to net loss of over 715,000 jobs and pushing close to 2.5 million people into extreme poverty. A new study — Growth, Jobs, Welfare and Macro Policy in Pakistan 2020 — by the Lahore

ISLAMABAD: The country has proposed adding Pakistan Post to the list of global e-commerce giant Amazon’s delivery partners for parcels within the country. Pakistan is expected to join Amazon sellers’ list in a week. However, after that Pakistani sellers would have to focus on the quality of their products. The items sold will be refundable

The incumbent PTI government is planning an agriculture reform package worth Rs. 110 billion in the upcoming budget.   This package will be implemented by increasing lending for enhancement of crops, and improvement in farmers’ income by 80 percent, within three years, the Chairman of the Prime Minister’s Task Force on Agriculture, Jamshed Iqbal Cheema,

The Federal Board of Revenue (FBR) has launched the software of electronic hearing of tax audit and assessment cases to facilitate the taxpayers. This has been done by enabling and functionalizing the e-Hearings module in the Iris. The module enables online hearing both from the dedicated hearing rooms established in the field formations and from

As ARY Group steps up its efforts to acquire 51 per cent of issued and paid-up capital of WorldCall Telecom Ltd along with the management control, its manager to the offer, AKD Securities, refreshed its bid to acquire the control of the company’s management and shares. According to an official of AKD Securities, the time