Pakistan Sugar Mills Association (PSMA) on Thursday sought permission to export half a million tonnes of surplus sugar. In a letter to Commerce Minister Gohar Ejaz, the association drawing his attention towards the current challenges requested to allow exports which is crucial to the industry’s economic survival. It is pertinent to mention that sugar exports during FY23 stood at 215,751 ton
The government has deferred its plans to issue a $1.5 billion international bond, Caretaker Finance Minister Shamshad Akhtar said on Thursday, stressing that the country will have to go for more IMF loan programmes for some time as the economy remains fragile. Her remarks came a day after the government reached a staff-level agreement with the International Monetary Fund on a nine-month bailout
Stocks saw consolidation on Wednesday on the decision by MSCI — a provider of global indices for passive investments — to reduce the weight of Pakistani shares in its frontier market’s benchmark a day ago. Topline Securities Ltd said the session began on a positive note but succumbed to the selling headwinds in the backdrop of the unexpected outcome of the MSCI review, which will lead to a red
THE inevitable is happening. Having raised everyone’s hopes of some sort of massive dollar inflow under the so-called Special Investment Facilitation Council (SIFC), the government is now stealthily trying to walk some of those expectations back. Members of the business community were told “$25 billion are there for the taking” at a meeting. But now we are finding out that what looked like $25b
President Arif Alvi has asked the Federal Board of Revenue (FBR) to restore multi-billion inadmissible sales tax refunds of over Rs12 billion through benami transactions during the tax year 2018-2022. The president directed FBR to reopen the investigation into M/s Millat Tractors Ltd (MTL), the company is under scrutiny for allegedly obtaining an inadmissible sales tax refund. This move by