The ambassador called on Federal Minister for Power Khurram Dastgir Khan. He said appointment of US Ambassador is a step in the right direction for Pak-US relations. The ambassador said…
Category: Business
Six Names Under Consideration for New Governor SBP
The Ministry of Finance has forwarded six names to the Prime Minister’s Secretariat for the appointment of a new Governor of the State Bank of Pakistan (SBP) Dr Reza Baqir…
Private Sector Borrowing Surges to All-Time High of Rs. 1.4 Trillion
The borrowing of the private sector from the banking system has surged to an all-time high level of Rs. 1.44 trillion in the financial year 2021-22. High interest/profit rates charged…
Tax on Deemed Income of Real Estate Challenged in Court
The taxation measure of Rs. 30 billion, enforced through the Finance Act 2022 to levy tax on deemed income of capital and real estate assets, has been challenged in the…
Barrick to Invest $70 Million in Social Sector to Uplift Balochistan
Barrick Gold Corporation will invest over $70 million in the social infrastructure of Balochistan. The Reko-Diq copper-gold project will create 7,500 jobs initially. The project is a partnership between Barrick,…
IMF Agreement is Beneficial for Pakistan’s Crippled Economy: Moody’s
International Monetary Fund (IMF) staff-level agreement with Pakistan is credit positive for the country. Agreement paves the way for release of $1.2 billion in IMF financing at a time when…
FBR Introduces New Penalty Regime for Withholding Agents
Tax withholding agents in Pakistan will be penalised if they fail to collect or deduct withholding taxes from July 1, 2022. The Federal Board of Revenue (FBR) has introduced a…
Finance Ministry Issues Guidelines for Lending to Provinces and PSEs
Ministry of Finance has announced to lend provinces and PSEP loans, advances, and investments. The loans will be subject to re-payment of due loans or deduction at source. Funds for…
SECP Attempts to Maximize Benefits to Employees on Retirement
The Securities and Exchange Commission of Pakistan (SECP) has introduced details of the agreements to be signed between the employers’ pension fund and pension fund managers. The SECP has issued…
Govt Appoints Amir Fida Paracha as MD Pakistan Bait ul Mal
The Federal government has appointed Amir Fida Paracha as the new Managing Director of Pakistan Bait-ul-Mal. The cabinet through circulation has approved the summary for the appointment of Paracha, an…