ISLAMABAD -UNS:President of Federation of Pakistan Chambers of Commerce and Industry Atif Ikram Sheikh has said that the current fiscal inflation rate will exceed 22 percent due to the increase in tax rates and energy prices. President Federation of Pakistan Chamber of Commerce and Industry Atif Ikram Shaikh has said […]
Business
ISLAMABAD -UNS: The Asian Development Bank (ADB) on Friday approved a $400 million concessional loan to support the reconstruction of houses and community infrastructure in Sindh damaged by the devastating floods in 2022, a press release from the bank said. Triggered by torrential monsoon rains, the 2022 floods submerged one-third […]
ISLAMABAD -UNS: The Federation of Pakistan Chambers of Commerce & Industry (FPCCI) is pleased to announce a promising development in strengthening international relations and economic collaboration.The proposal by Mr. Atif Ikram Sheikh President FPCCI to link Islamabad and Washington D.C as Sister Cities was put forward by Mr. Malik Sohail […]
By Fawad Yousafzai The consumers have paid Rs1.93 trillion capacity payments to IPPs (international power producers) during the previous fiscal year, including Rs46 billion to two producers with zero power generation, and Rs370 billion to three plants for generating power at 15 percent load factors. The government has also procured […]
ISLAMABAD -UNS: President Federation of Pakistan Chamber of Commerce and Industry Atif Ikram Sheikh has said that it is necessary to review the agreements with IPPs. The government should bring the agreements with IPPs to the public. Expensive contracts are the cause of electricity crisis today, people and business circles […]
SYDNEY-UNS: The High Commission for Pakistan, Canberra and its Consulate General in Sydney in collaboration with the Pakistani Diaspora organized the largest ever Mango and Cultural Festival in Australia. The event held at Fairfield Showground in Sydney, brought together a diverse audience of around 10,000 people to celebrate Pakistan’s rich […]
AKATAU -UNS: as part of the First North-South Trade and Logistics Forum taking place in Aktau (Kazakhstan), a trilateral meeting of the heads of transport departments of Turkmenistan, Kazakhstan and Afghanistan was held, during which a wide range of issues related to further capacity building were discussed cooperation between the […]
UNS: Pakistan’s current account posted a deficit of $681 million in FY2023-2024, a significant decrease of 79 percent from the $3.275 billion deficit in the same period of the previous fiscal year, according to a report released by the State Bank of Pakistan (SBP) on Friday. The current account deficit […]
ISLAMABAD -UNS: The Federal Board of Revenue (FBR) has uncovered a Rs800 billion tax refund fraud over the past four months. During a review meeting chaired by Prime Minister Shehbaz Sharif, the reforms in Inland Revenue and Customs were discussed. It was reported that the board had detected the Rs800 […]
ISLAMABAD -APP : Chinese ambassador to Pakistan Jiang Zaidong on Sunday said China was ready to work with Pakistan to “actively implement” its Global South initiative of common development and shared cooperation. Chinese President Xi Jinping has recently announced a series of measures for the Global South countries including establishing […]