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Pakistan and China have agreed on liberalization of 75 percent tariff lines and 90 percent trade value of China in the second phase of Free Trade Agreement (CPFTA-II), well-informed sources told Business Recorder. The agreement has been finalised by more than a dozen officials of both countries in two days' meetings...
The government has started the process for conducting a research study on "forecasting the full economic impact of potential Financial Action Task Force (FATF) blacklisting, especially in the areas of trade, investment and remittances." Sources told Business Recorder here on Tuesday that the research study would be conducted by Pakistan Institute...
LAHORE: Pakistan’s economy is likely to grow by around 5 percent this year, but it faces challenges in the shape of alarmingly large fiscal and current account deficits, both running around 6 percent of the gross domestic product (GDP). These are the findings of Global Economic Conditions Survey (GECS) report...
ISLAMABAD: The PTI government is considering abolishing Protection of Economic Reforms Act (PERA), 1992, which gives immunity to all residents of Pakistan against any inquiry from the income tax department or any other authority for any amount of remittances (in foreign currency) received through the banking channels from abroad. A...
ISLAMABAD: Contrary to earlier claims about jacking up exports to $26-27 billion in the ongoing fiscal, Adviser to the Prime Minister on Commerce, Textile, Industry & Production and Investment Razzak Dawood says Pakistan’s exports may not touch the figure of $25 billion by end of the ongoing fiscal in...
ISLAMABAD:  The Trump administration has turned down Pakistan’s demand for duty-free market access to the US for its products, disclosed a prime minister’s aide. “We want duty-free market access for Pakistan’s exports to the United States, but Trump is a main hurdle,” Adviser to Prime Minister on Commerce, Textile and Industry...
KARACHI:  State-owned Pakistan Petroleum Limited (PPL) has emerged as the first Pakistan-based oil and gas exploration firm to have gone global as it has started drilling a well in Iraq, where gas deposits of 200-300 million cubic feet per day (mmcfd) are expected to be found. PPL, the operator of Block...
LAHORE: A delay in the appointment of 121 high officers on vacant posts in the power sector has increased the chances of severe electricity crisis in the upcoming summer across the country. Instead of 219 officers, only 98 are running the system in 10 power distribution companies as the remaining positions...
ISLAMABAD: Business community on Tuesday proposed various measures to the government for the upcoming budget to improve ease of doing business, enhancing tax revenues and boost economic growth. The proposals were made during a meeting of National Assembly’s Standing Committee on Finance, Revenues, and Economic Affairs. Presenting a joint proposal for...
WASHINGTON: Pakistan’s economy is projected to slow down significantly and weigh on the region’s aggregate growth rate, says Jihad Azour, director of the Middle East and Central Asia department at the International Monetary Fund. At a recent talk on the economic outlook for the Middle East, North Africa, Afghanistan, and...

Opinion

imf

IMF package

There are reports that an agreement with the IMF to support Pakistan with a ‘bailout package’ in the range of $6 to $8 billion...