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
The gig economy is creating economic opportunities and earning potential across Pakistan. While the logistics industry has been at the forefront of this transformation, other sectors are also beginning to embrace the freelancer model — particularly in the blue-collar segment. It has created opportunities for people from all walks of life to earn a living, regardless of their education or backgr
Fauji Fertiliser Company Ltd posted a net profit of Rs5.3 billion in the April-June quarter, up 59 per cent from a year ago, the company reported on Tuesday. Its earnings in the first half of 2023 remained Rs13bn after increasing 36pc year-on-year. In addition, the company also announced a cash dividend of Rs3.15 per share in the second quarter of 2023, taking the cumulative pay-out in the f
Pakistan’s energy sector can save around $8.6 billion over the next decade by implementing improved power production strategies. The Policy Research Institute for Equitable Development (PRIED) and a research institution, Renewables First, released earlier this week a jointly conducted independent study, which shows ineffective planning has led to the setting up of expensive and inefficient powe
Bank advances to the private sector plunged by almost 87 per cent to Rs211 billion in FY23 against Rs1,612bn in the preceding fiscal year, reflecting the repercussion of record high interest rates and economic slowdown. The State Bank’s latest data issued on Tuesday revealed that the private sector did not borrow to invest in expansion as most of the borrowing was meant for short-term working c