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
The $7 billion agreement with the International Monetary Fund (IMF) will provide much-needed relief to Pakistan. However, experts caution that this is not a cause for celebration. Murtaza Syed, a former acting governor of the State Bank of Pakistan, noted in a tweet that for this staff-level agreement (SLA) — Pakistan’s 25th with the global lender — to become official, the country requires fina
Prime Minister Shehbaz Sharif on Sunday formed a committee to reactivate the Neelum-Jhelum hydropower project, directing the relevant officials to complete investigation into its recent closure and identify those responsible for the defects in its design. While chairing a meeting at PM House during which a preliminary investigation report was presented, the prime minister expressed annoyance o