Global current account balances widened sharply in 2024, reversing a narrowing under way since the global financial crisis of 2008-2009, the International Monetary Fund (IMF) said on Tuesday, warning that tariffs were not the answer. In its annual External Sector Report, which assesses imbalances in the 30 largest economies, the IMF noted that external surpluses or deficits were not necessarily
Federal Minister for National Food Security and Research Rana Tanveer Hussain has said that the government will initiate a countrywide crackdown against the mills involved in hoarding, profiteering or overpricing, if the Pakistan Sugar Mills Association (PSMA) failed to play its due role in ensuring compliance with the notified price among its members. Rana Tanveer chaired a high-level meeting
The Pakistan Business Forum (PBF) has called on the Federal Board of Revenue (FBR) to immediately issue a Statutory Regulatory Order (SRO) for imposing 18% general sales tax (GST) on imported cotton, as outlined in the Finance Bill 2025. In a statement, the PBF emphasised that despite clear announcement in the federal budget to tax the imported cotton, its implementation was pending due to the
The Pakistan Business Forum (PBF) has called on the Federal Board of Revenue (FBR) to immediately issue a Statutory Regulatory Order (SRO) for imposing 18% general sales tax (GST) on imported cotton, as outlined in the Finance Bill 2025. In a statement, the PBF emphasised that despite clear announcement in the federal budget to tax the imported cotton, its implementation was pending due to the
No trading companies were believed to have submitted price offers in the international tender to buy 50,000 tonnes of sugar from Pakistan which closed on Tuesday, European traders said in initial assessments. Traders said the shipment and arrival periods were regarded as having too short notice for realistic offers. The tender from the state-run Trading Corporation of Pakistan (TCP) sought