KARACHI: The board of directors of Indus Motor Company (IMC) has approved an investment of around Rs3 billion for additional localisation of parts and components of various existing vehicles. The investment is planned to be completed by the third quarter of 2025, the company said in a stock filing on Thursday. The fresh investment is part of the company’s overall plan to continuously increas
ISLAMABAD: The Federal Board of Revenue (FBR) has initiated the process of gathering tax proposals from all stakeholders for consideration in the upcoming budget for the fiscal year 2024-25. Three different notifications were issued on Thursday to solicit feedback from all taxpayers, including chambers of commerce and industries, associations, and trade bodies. All proposals should reach the FB
ISLAMABAD: In a rare comparison before leaving portfolio on completion of about six months, caretaker Finance Minister Dr Shamshad Akhtar on Thursday claimed better debt management — domestic and external — from all aspects than her predecessor Ishaq Dar in the PDM-led coalition government, apparently pitching for her continuation. “Borrowings in the caretaker government’s term have been lower
The nation’s battle with debt repayment has intensified amid a drop in the State Bank’s foreign exchange reserves and rising political uncertainty, currency experts said. The SBP reported on Thursday that its foreign exchange reserves fell by $44 million during the week ending Feb 16 due to debt servicing, highlighting the ongoing financial strain. Despite an uptick in remittances in Decembe
ISLAMABAD: Pakistan plans to seek a new loan of at least $6 billion from the International Monetary Fund (IMF) to help the incoming government repay billions in debt due this year, Bloomberg News reported on Thursday, citing a Pakistani official. The country will seek to negotiate an Extended Fund Facility with the IMF, the report said, adding that the talks with the global lender were expect