An assurance from the International Monetary Fund about the success of talks with Islamabad helped tilt the exchange rate in favour of the rupee on Thursday. The dollar depreciated after 17 consecutive appreciations in the inter-bank market. The IMF, however, expressed reservations by saying that the rupee must remain market-determined to alleviate external pressures and rebuild reserves. Th
China is ready to be a partner and friend of the United States, and there is plenty of room for bilateral cooperation, President Xi Jinping told American executives in San Francisco on Wednesday, as Beijing looks to reassure global business and counter his country’s struggles to entice foreign investment. The US executives dined with Xi on the margins of the Asia-Pacific Economic Cooperation (A
Extending a cautious welcome to the Staff-Level Agreement, the business community believes that the time has come to generate more resources to boost trade and industry instead of approaching the International Monetary Fund (IMF) again in April next year. Federation of Pakistan Chambers of Commerce and Industry (FPCCI) President Irfan Iqbal Sheikh said the business community stood by the govern
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