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KARACHI:  Foreign investment in Pakistan’s economy slowed down significantly as inflows dropped 45% to $128.1 million in July, a wake-up call for the authorities concerned to revise investment policy and make it more attractive. Foreign direct investment (FDI) stood at $233.8 million in the same month last year, the State...
ISLAMABAD:  Islamabad Chamber of Commerce and Industry (ICCI) Senior Vice President Muhammad Naveed Malik has lamented that Pakistan’s total debt and liabilities have surged to Rs29.861 trillion while external debt and liabilities have crossed $95 billion as of June 30, 2018. Also Read: Islamabad Chamber of Commerce and Industry for reforms in...
KARACHI:  Pakistan’s real estate sector seems to be experiencing a slowdown in activity as stakeholders are now getting used to new regulations and the tax regime. The rough patch comes after the government introduced various changes in a bid to increase its revenue and control the flow of illicit money into...
ISLAMABAD:  Though the previous Pakistan Muslim League-Nawaz (PML-N) government claimed to have brought about improvement in power production, it still passed on a gigantic circular debt of Rs1.148 trillion to the new government of Pakistan Tehreek-e-Insaf (PTI), which faces a bumpy road ahead. The PML-N had come up with a slogan...
ISLAMABAD : The interim finance minister on Friday urged the Asia Pacific Group (APG) on Money Laundering to be flexible in its deadlines given to Pakistan to address legal and administrative deficiencies in Anti Money Laundering (AML) and Counter Terrorism Financing (CTF) frameworks. “Pakistani authorities should be given full opportunity to...
ISLAMABAD: The Asia Pacific Group (APG) has asked Pakistan to submit replies on 150 pages of technical compliance questionnaires with deadline of August 31, 2018 mainly related to extradition treaties signed with different countries and possibility of revision with inclusion of offences of money laundering and terror financing in...
ISLAMABAD: As Pakistan weighs options on how to seek financial support from external sources, the International Monetary Fund (IMF) has not yet endorsed Islamabad’s nominee for the post of senior adviser to the IMF executive director. IMF Board Executive Director Jafar Mojarrad has so far withheld approval of the nomination...
KARACHI: Engro Corporation’s consolidated profit surges 74% to Rs4.21 billion for the second quarter ended June 30 mainly due to robust sales and significant cut in tax paid on the profit. Profit stood at Rs2.42 billion in the same quarter last year. Accordingly, earnings per share surged to Rs3.62 in the...
ISLAMABAD: The Ministry of Energy (MoE) has been asked to finalise its evaluation of the impact of US sanctions on Pakistan’s options for growth of economic relations with Iran, particularly in the energy sector. The task for coming come up with firm recommendations for future course of action was...
ISLAMABAD: A six-member visiting delegation of the Asia Pacific Group (APG) has found some deficiencies in Pakistan’s systems, agencies and laws to meet its global obligations against money laundering and terror financing, but noted that progress was taking place. In the concluding session with host authorities, the delegation pointed...

Opinion

ECONOMIC

Economic reforms: Part-XXXXIII

The 1990 NFC made another curious recommendation, which was not part of its original TORs, but based on a reference made by the Council...