Guaranteeing that the caretaker set-up, as well as the next government, will adhere to the country’s agreement with the International Monetary Fund (IMF), Prime Minister Shehbaz Sharif on Tuesday assured international donors that funds given for flood victims will be spent judiciously. Addressing the 3rd meeting of the International Partners Support Group (IPSG), formed in the wake of the Res
The central bank has updated its instructions for foreign exchange companies for importing US dollars, allowing them to import cash dollars against the value of their export consignments of permissible foreign currencies within five working days through reputed cargo or security companies. The State Bank of Pakistan (SBP) has updated these terms by adding a paragraph — titled ‘Import of Cash US
As the auto industry shifts towards greener technologies across the world, MG Motors Pakistan has also stepped up efforts to get in the same lane with plans to introduce hybrid, plug-in hybrid and fully electric vehicles. The company has already tasted success with its MG HS sports utility vehicle, both the imported and locally assembled petrol versions, selling a total of 15,000 units in the l
The International Monetary Fund (IMF) has slightly upgraded its outlook for world growth this year on the back of resilient service sector activity in the first quarter and a strong labour market, the lender said on Tuesday. But despite the mildly better economic forecast, growth is expected to slow to three per cent in 2023 and then stay there, held down by weak growth among the world’s advanc
IN a statement before the National Assembly on Friday, Finance Minister Ishaq Dar rebuffed reports that the government was planning to impose new taxes on the agriculture and construction — including real estate — sectors. A day later, he insisted that the taxes on these two sectors agreed with the IMF for its new $3bn loan, and widely reported in the media, had already been implemented in the