Business

Nearly 8,000 taxpayers illicitly avail tax adjustments against cotton ginning

Pakistan to contribute 70% equity to mega refinery project in Gwadar

Says the move could save national exchequer Rs10 billion annually

Analysts believe bank will give in to IMF pressure

Outflow of profits, dividends plummets to $331m from $1.68b last year

Hopes to take Chinese products to US consumers

Recovers by 0.52% to Rs287.04/$ in the interbank market

Key measures of inflation remain more than double the Fed’s target

Increase of Rs2.31/unit for KE consumers, Rs1.81/unit for other Discos customers

Likely to clock in at 26.4% during July 2023

Rate hike, Fed's 11th in its last 12 meetings, set the benchmark overnight interest rate in 5.25%-5.50% range

Dollar index falls 0.109% but was close to an almost two-week high

Fiscal deficit expected to decline from the previous year’s 7.9 per cent of GDP, says report

PM told that so far Pakistan has received over $700m against the pledges

Paid Rs264.3b in FY2023, over Rs75b or 40% higher than the preceding year

Study reveals inadequate policies have resulted in underutilisation of generation capacity

Condemn recent hike in electricity rates and its detrimental impact on businesses

Flagship CPEC project cost $230m, declared fully operational

Mark highest quarter since at least 2004, rebounding from a low of 4.14%

Diminishing trust forces investors to adopt ‘wait and see’ approach

Minister highlights despite challenges, Pakistan made significant strides in local manufacturing

Hits 2.5 month low at Rs288.52/$ amid rising demand

Company’s management optimistic about potential surge in car sales, provided there are no restrictions on LCs imports

Says only 20% of estimated $1.5 billion was remitted in FY2023

Will help supply efficient, reliable power to Punjab

Driven by an increase in demand for the foreign currency

Consumers’ interests and export-oriented sectors at stake as power regulator and govt clash

Pakistan also grants airliner landing rights in major cities

Decisions include supplementary grants of Rs80 million for PM’s house renovation

KSE-100 index gains 134.08 points, settles at 46,054.81

Key selector and MD at Endeavor is also shareholder and director of Sadapay

Second major seaport terminal deal signed with UAE in less than two months

Both parties agree to incrementally increase Rs1.64 during talks at Karachi’s PSO House

CPEC made tangible contribution to Pakistan's development, connectivity in region

Govt should avoid discrimination between domestic, foreign investors

It should not ignore restructuring to keep the economy afloat

Ensuring compliance with ongoing IMF could be a priority of forthcoming govt

Only 21% of Pakistani population uses the internet reports the World Bank

Pakistan will need to balance the benefits, costs of the IMF

Agreement mandates Azerbaijan to offer cargoes at world’s lowest price

Political affiliations and economic shifts pose hurdles for privatisation commission

Generation from FO, coal drops by 62% and 22% YoY

No consensus on phasing down fossil fuels

KSE-100 index rises 853 points, settling at 45,921

Supervisory chief says financial markets in a ‘delicate phase’

New tax regime causes decline in income as operations come to halt

Delegation on 10-day visit to boost exports and collaborations

Unresolved policy linking telecom license fees to dollar causes crisis

Senator says unreliability, disruption in policies could prove fatal for economy

NEPRA has rebased average tariff to make it uniform across country