Mobile phones worth $7.19 million have been imported illegally without opening the letters of credit (LCs) or utilising the banking channel, disclosed a report of the Federal Board of Revenue (FBR) on Saturday. A senior official of FBR said despite an unannounced ban on the import of mobile phones and their accessories by the State Bank of Pakistan (SBP), 52 Goods Declarations (GDs) worth $8.65
Finance Minister Ishaq Dar on Saturday said he had cancelled his trip to Washington for the spring meetings of the International Monetary Fund and World Bank on the prime minister’s orders, due to the political turmoil in Pakistan. However, he assured the nation that the IMF deal was on track and the government had already done all that was required from it to conclude the ninth review of th
Barely a year ago, there was optimism all around whenever you talked to people from the startup ecosystem. Coming on the back of a stellar 2021 — that saw investment surge more than 5x — the ecosystem was flush with a high. It continued into the first quarter of 2022, giving the impression that our moment is here to stay. Only to become what seems like a blip now. There were already glaring sig
Digitisation can significantly boost the GDP growth rate and expand the size of the country’s economy. A report on Pakistan’s digital journey, Recommendations for Digital Transformation in Pakistan, argues that digitisation has the potential to add $60 billion to the economy by 2030 if the government creates a favourable investment climate for local and foreign investors to fill in the large gaps
There is a popular belief that inflation rises during Ramazan, with authorities solely fixated on stocking up and artificial price hikes. Prices tend to escalate during Ramazan, with a general surge of 31.5 per cent in recent months, and several food items experiencing up to a 60pc increase in prices from their pre-Ramazan levels. While stocking up may be a contributing factor towards higher pr