Finance Minister Dr Shamshad Akhtar said on Thursday the government will separate the customs from the revenue collection mechanism as part of the reforms in the Federal Board of Revenue (FBR). Speaking on the second day of the Future Summit organised jointly by Habib Bank Ltd and Nutshell Group, Dr Akhtar said the role of the customs will now be limited to “tracking” smuggling while the revenu
The Oil and Gas Regulatory Authority (Ogra) and Pakistan Refinery Ltd (PRL) on Thursday signed the first agreement under the revised Brownfield Refinery Policy 2023 announced in August to upgrade and enhance refining capacity for production of better quality fuels. The Brownfield Refinery Policy, a critical component of the national strategic framework, necessitated these agreements to facilita
Pakistan Sugar Mills Association (PSMA) on Thursday sought permission to export half a million tonnes of surplus sugar. In a letter to Commerce Minister Gohar Ejaz, the association drawing his attention towards the current challenges requested to allow exports which is crucial to the industry’s economic survival. It is pertinent to mention that sugar exports during FY23 stood at 215,751 ton
The government has deferred its plans to issue a $1.5 billion international bond, Caretaker Finance Minister Shamshad Akhtar said on Thursday, stressing that the country will have to go for more IMF loan programmes for some time as the economy remains fragile. Her remarks came a day after the government reached a staff-level agreement with the International Monetary Fund on a nine-month bailout
Stocks saw consolidation on Wednesday on the decision by MSCI — a provider of global indices for passive investments — to reduce the weight of Pakistani shares in its frontier market’s benchmark a day ago. Topline Securities Ltd said the session began on a positive note but succumbed to the selling headwinds in the backdrop of the unexpected outcome of the MSCI review, which will lead to a red