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BERN: The Switzerland Parliament has approved to grant Pakistan, among 18 countries, to access its financial data starting from 2021. The development would allow Pakistan authorities to learn how much money Pakistanis have in Switzerland. The Swiss parliament approved on Tuesday a new batch of countries for automatic exchange of...
PESHAWAR: The Economic Zones Development and Management Company is in contact with the state-owned China Road and Bridge Corporation for the early finalisation of an agreement to develop the Rashkai Special Economic Zone, said officials on Thursday. The officials told a meeting chaired by Chief Minister Mahmood Khan here that...
KARACHI: Stocks finished flat on Thursday with the KSE-100 index slightly down by 17.25 points (0.04 per cent) and closing at 40,514.17. In a directionless trade, the index opened in the positive territory but could not keep up the upward movement and oscillated between the intraday high and low of...
ISLAMABAD: The Karachi-based Intelli­gence and Investigation department of the Federal Board of Revenue (FBR) has unearthed a scandal involving illegal transfer of over Rs20 billion to bank accounts and its withdrawal in Malakand division of Khyber Pakhtunkhwa without payment of taxes, it emerged on Thursday. fia The tax-evaded funds were...
ISLAMABAD: The Nat­ional Assembly’s Standing Committee on Interior on Thursday thwarted a government move to include financial crime and illegal money transfers in the Anti-Terrorism Act (ATA) as the lawmakers maintained that the new law could be used for political victimisation. The amendment to the Anti-Terrorism Act, 1997 has been...
ISLAMABAD: The cost of tax exemptions to the national economy has almost doubled to more than Rs1.8 trillion from Rs972 billion as reported in the federal budget 2019-20. The figures were revealed to the Senate’s Standing Committee on Finance and Revenue on Thursday by Federal Board of Revenue (FBR) Member...
ISLAMABAD: Pakistan has fallen to the bottom of the list of countries with medium human development and is ranked at 152 – only a notch away from slipping into the group of nations that have very low human development, says a new United Nations report released on Thursday. The United Nations...
FAISALABAD: The Punjab Seed Council has approved the first-ever quinoa variety, a super food titled Q7, which was developed by the University of Agriculture Faisalabad (UAF) scientists. This was announced by UAF Vice Chancellor Muhammad Ashraf at a Memorandum of Understanding ceremony between UAF and Shandong Normal University China (SDNU) to...
ISLAMABAD: The e-commerce policy of Pakistan will focus on the development and promotion of SMEs for making Pakistan a significant player of the regional and global digital economy, said Joint Secretary (WTO) at the Ministry of Commerce Aisha Humera Moriani. While addressing a seminar on the e-commerce policy of Pakistan, organised...
LAHORE: In a crackdown operation in the provincial capital, the food department has suspended the official wheat quota of seven flour mills involved in selling wheat in the open market instead of using the government wheat to prepare flour. Besides, some mills were also found to be involved in supplying...

Opinion

TRADE deficit

Steady trade trends – caution ahead

The trade deficit for November 2019 improved 30 percent year-on-year – keeping up with the trend started since the beginning of FY20. The November...