The foreign exchange reserves of both State Bank and commercial banks shot up during the week ending on May 10, the central bank reported on Thursday. Reserves held by commercial banks showed a bigger jump than those with the State Bank, going up by $152 million to $5.491 billion, while the SBP’s reserves rose by $15m to $9.135bn. During the current month, the central bank received $1.1bn fr
While the government plans to tinker with the fast-growing solar net metering policy, participants of the National SDGs Conference 2024 on Thursday advised the government to include subsidised solarisation, family planning, environment and universal health in the development policy to achieve Sustainable Development Goals under global commitments. The one-day conference, organised by the Minist
Deputy Prime Minister and Foreign Minister Ishaq Dar said on Thursday the government under its economic reforms agenda offers attractive incentives for investment and asked the Chinese entrepreneurs to take advantage of the friendly policies and set up labour intensive industry in Pakistan. “The labour cost is very competitive and much less as compared to the current labour cost in China. Agric
Pakistan’s top tax machinery is working on several proposals to eliminate tax exemptions worth billions of rupees in the Budget 2024-25 as prerequisites to secure an agreement with the International Monetary Fund on a new bailout package, Dawn learnt from official sources on Thursday. The Federal Board of Revenue (FBR) has prepared a document for tax exemption withdrawal based on internal worki
ISLAMABAD: The government is mulling a move to introduce a carbon tax on petroleum and similar products, amid a push for an integrated general sales tax (GST) from the International Monetary Fund to achieve the true spirit and benefits of the value-added tax (VAT) for documentation and digitisation. Sources told Dawn that carbon tax was one of the measures being deliberated that could also hel