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Thursday, November 15, 2018
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KARACHI: The Pakistan Hosiery Manufacturers and Exporters Association (PHMA) has written to the State Bank of Pakistan (SBP) to remove curbs on advance payments that it should not apply to this export-oriented industry a new condition restricting advance payments for imports against irrevocable Letters of Credit (LCs). According to the SBP’s...
LAHORE - Pakistan Carpet Manufacturers and Exporters Association has said that due to failed policies of the previous political governments, country has plunged into trouble in the fields of economy including exports. To pull the county out from present crises, positive and long term measures are need of the hour...
ISLAMABAD:  Following an unimpressive performance of the agriculture sector during the tenure of previous government, the new Pakistan Tehreek-e-Insaf (PTI) administration has decided to declare an agriculture emergency under its first 35 initiatives’ programme in a bid to ensure that farmers make more profit. A senior official of the Ministry of...
KARACHI: Local assemblers have kept their automakers production plans intact till September despite fears of losing 50-60 per cent non-filers as their main customers of cars and light commercial vehicles from July 1.All assemblers have already requested customers to change their status to tax filers to avoid any possible...
LAHORE:  The new government has to surmount a number of economic and financial challenges after assuming power. The first and foremost challenge is the financial one is balance of payments. The economy is in the grip of a worsening balance of payments situation where foreign exchange reserves are just enough...
ISLAMABAD: Pakistan has improved its ranking by 11 points, moving from 147th to 136th position in the ‘Doing Business Report: Training for Reform 2019’ published by the World Bank on Wednesday. In resolving insolvency, Pakistan made it easier by introducing the reorganisation procedure and improving continuation of the debtors business...
ISLAMABAD: The Pakistan Tehreek-e-Insaf (PTI) government has decided to amend the accountability law in an attempt to keep a suitable check on corruption cases in order to avoid unnecessary harassment. The development comes in the backdrop of several multinational companies wrapping up operations in Pakistan and filing cases in international courts...
ISLAMABAD:  The federal government on Wednesday kept the wheat support price unchanged at Rs1,300 per 40kg for the fifth consecutive year despite admitting that farmers were earning a meagre 2% profit, which showed its apathy towards the rural population. The Economic Coordination Committee (ECC) of the cabinet decided to leave the...
ISLAMABAD: Textile group exports from the country during the first two months of the current financial year (July-August) grew by 3.71 per cent as compared to the corresponding period last year. During the period from July-August, 2018 textile products worth $2.280 billion were exported as compared to the exports of $2.179...
ISLAMABAD: State Minister for Revenue Muhammad Hammad Azhar has reiterated Pakistan’s strong commitment and continued support for achieving the objectives of the D-8 Organization for Economic Cooperation. He is leading Pakistan’s delegation to the 18th Session of the D-8 Council of Foreign Ministers being held in Antalya, Turkey, a statement...

Opinion

remittances unpaid

Of unpaid refunds & figure fudging — II

Everybody knows that collection shown by FBR contains blocked refunds of billons, advances from government-owned corporations and amounts extorted, though not yet due. The...