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KARACHI: The State Bank of Pakistan (SBP) has called for launching an industrial policy to kick-start the economy and reverse the strong downward trend reported since the last fiscal year. The recently published annual report of the central bank paints a dismal picture of the economy as real gross domestic product...
KARACHI: The State Bank of Pakistan (SBP) in its annual report on Monday said the rising share of services sector, at the expense of industry and agriculture, needs to be addressed while forecasting the GDP growth for FY20 between three and four per cent. According to the report, the country...
ISLAMABAD: After decades of galloping ahead, globalisation has now reached a fork in the road. One side is led by US President Donald Trump who is categorically against globalisation. He is trying to decelerate its pace through a threefold approach – imposing tariffs on bilateral fronts, withdrawing from big regional...
ISLAMABAD: The growth in big industries contracted over 6% in the first two months of the current fiscal year, highlighting a deeper economic slowdown which would further increase unemployment and poverty in the country. manufacturing Large-scale manufacturing (LSM) output decreased 6.04% in July-August of the current fiscal year compared to the same...
ISLAMABAD:  The federal government has started a review of recommendations aimed at developing the cottage industry, including policymaking for small and medium enterprises (SMEs), an easy taxation system and establishment of an authority for the cottage industry. On the other side, the Ministry of Finance has sought opinion of the Federal...
ISLAMABAD: The textile industry has complained to the Prime Minister Office about ‘non-implementation’ of the export-sector support package involving subsidised gas and electricity rates and tax breaks approved by the government and called upon the federal cabinet to take up the matter at its Oct 1 meeting. In letters to...
The insurance industry's asset base is expected to expand further in CY19; however insurance sector regulator's capital requirements may lead to consolidation in the insurance industry with some insurers expected to merge or acquire smaller insurers. According to a recent report issued by the State Bank of Pakistan (SBP),...
ISLAMABAD: Pakistan is working to boost its industrial and commercial potential through the introduction of business reforms, said Adviser to PM on Commerce and Textile, Industries and Production and Investment, Abdul Razak Dawood. The government is focusing on higher exports through tariff rationalisation, attracting trade-related investment, undertaking institutional reforms and documentation...
That the role of manufacturing in the economy has been declining, the investment level is half that of our neighbours, the country significantly lags behind the region on the industrial growth rate and the economy is losing its share in world exports are all well-known facts. Poorly negotiated trade agreements,...
KARACHI: The business of wholesalers and retailers associated with textile processing mills has come to a standstill after the end of zero rated regime for the textile sector coupled with imposition of sales tax of 17 and 20 per cent, said the All Pakistan Textile Processing Mills Association (APTPMA). APTPMA...

Opinion

billions tax

Tax plans san debate!

According to a Press report, Chairman Federal Board of Revenue (FBR), Shabbar Zaidi, has shown flexibility over establishment of Pakistan Revenue Authority (PRA) after...