The Asia-Pacific Economic Update warns that the escalation of trade and geopolitical tensions poses a major near-term risk, and a tit-for-tat trade war will take a heavy toll on regional value chains with impacts on exports, employment and workers’ earnings. The Economic Update released on Tuesday by the UN Economic and Social Commission for Asia and the Pacific points out that the recent impos
The Overseas Investors Chamber of Commerce and Industry (OICCI) has expressed concern that the budgetary measure of imposing advance income tax (AIT) on non-filer retailers is not being implemented. The chamber believes this is due to the stubborn stand of a large part of the retail trade who, as before, are not prepared to be part of the tax system, forcing the distributors or the brand owner
The outflow of foreign investment through treasury bills shot up to $61 million during the first nine days of this month, while the inflow was just $8.14m in the same period. The inflows of foreign investments had increased in the last quarter of the previous fiscal year (FY24), improving the country’s investment climate, particularly for foreign investors. According to analysts, since inves
Pakistan has agreed in principle to revive the 1,124MW Kohala Hydropower Project (KHPP) and extend the completion deadline by three years, sources in the Planning Commission told Dawn. The project had been stalled for three years as China Export and Credit Insurance Corporation (Sinosure) was reluctant to provide insurance cover to the project as Pakistani power companies had not paid the due
The privatisation process for three electricity distribution companies (Discos) began on Tuesday after a meeting jointly chaired by the privatisation and power ministers gave its go-ahead. The Privatisation Commission has invited technical and financial proposals for the appointment of financial advisers for private sector participation in three distribution companies — Islamabad Electric Suppl