A study published by the Asian Development Bank finds that Pakistani migrants tend to remit more when economic conditions are improving back home and when there is positive association between remittances and domestic economic activity. “This suggests that there is an opportunistic dimension to the remittance motives of Pakistani migrants. They remit money to take advantage of investment opport
PESHAWAR: Sarhad Chamber of Commerce and Industry president Fuad Ishaq on Monday expressed concern about the imposition of two per cent tax on exports as Infrastructure Development Cess and said the move had halted export consignments worth billions of dollars and rendered huge financial losses to exporters. Along with trader leaders, manufacturers and exporters, Mr Ishaq told reporters at the
Traders’ bodies on Monday announced to observe a complete shutter down strike and take to the streets on Wednesday (Aug 28) to protest against the imposition of various taxes by the government. “The country is already witnessing historic inflation, and the government has further vitiated the fragile socioeconomic conditions by imposing more taxes,” Haroonur Rasheed, central president of one of
Shell Pakistan Ltd (SPL) on Monday reported a 62.85 per cent decline in its profit-after-tax (PAT) to Rs1.3 billion for the half year ended on June 30 compared to Rs 3.5bn in the same period of 2023. The board of directors announced that the company’s sales rose slightly to Rs223bn in January-June compared to Rs215bn in the corresponding period last year.SPL maintained its market share through
The National Assembly’s Standing Committee on Privatisation was informed on Monday that Pakistan International Airlines Company Ltd (PIACL) incurred a loss of Rs75 billion in 2023, with overall liabilities of Rs825bn and total assets of Rs161bn. A meeting of the committee, chaired by MNA Dr Muhammad Farooq Sattar, recommended that employees’ rights be protected during the privatisation process