Prime Minister Shehbaz Sharif on Saturday said that Pakistan needed to embark on a “long and difficult journey” to prevent knocking on the doors of the International Monetary Fund (IMF) again. “If we want to get rid of loans, we need to consider this IMF programme as the final one,” he said. In the wee hours of Saturday, the international lender announced that Pakistan and the Fund had reach
To facilitate the business community, all shipping companies will remain operational every Saturday from July 20 for one month to issue Delivery Orders (DO). This was decided in a meeting with businessmen, chaired by Karachi Port Trust (KPT) chairman Syed Syedain Raza Zaidi, in pursuance of the prime minister’s recent decision to establish a regulatory authority for the shipping sector. The
Turkiye plans to draw on its geographical position an European Union (EU) customs deal to entice Chinese investors keen to access European markets tariff-free, as it recently just did with Chinse carmaker BYD. The Chinese electric vehicle giant signed a billion-dollar deal with Ankara on Monday to open a plant in west Turkiye, promising to create 5,000 jobs, a move that will help it dodge new E
As Pakistan has reached a Staff-Level Agreement (SLA) for $7 billion Extended Fund Facility with the IMF, the Pakistan Business Council (PBC) said the government should now take the formal sector into confidence by offering a roadmap on how and when their taxation burden will be alleviated. The body said the government should provide relief by cutting back on public expenditure and broadening t
As the State Bank of Pakistan (SBP) cut the interest rate to 20.5 per cent in April following a sharp deceleration in inflation, harsh taxation measures in the budget 2024-25, along with increasing global prices and a growing gap between supply and demand, have once again led to a rise in food prices, particularly for pulses. Commodity importer Faisal Anis Majeed said the federal government has