The International Monetary Fund (IMF) has given its consent for waiving 18% sales tax on the lease of aircraft for induction into Pakistan International Airlines (PIA) and for parking more liabilities in a holding company, removing the two major obstacles to PIA's privatisation. The development may help kick-start the privatisation process again for Pakistan's fourth-largest loss-making entity.
Continuing its upward trajectory briefly, shares at the Pakistan Stock Exchange (PSX) climbed over 1,400 points on Tuesday in intraday trade before plunging more than 1,000 points, which analysts attributed to political noise. The benchmark KSE-100 index climbed 1,482.06, or 1.35 per cent, to stand at 111,452.44 points at 10:55am from the previous close of 109,970.38 points. However, later,
Better internet access has opened doors to new possibilities for Pakistan’s youth. Young freelancers use these opportunities to earn a livelihood for their families. From technology companies in major cities to remote workers using their 4G internet in villages, Pakistanis are excelling and competing with global talent. As of 2024, our freelancers rank 4th globally with over 400 million annual
Since winning the presidential election, Donald Trump has indicated his plans to extensively employ tariffs to revive the United States’ economic power. The question is: will such threats work for the US when Washington’s extensive use of financial sanctions seems to be failing? On Dec 1, he threatened to punish the Brics (Brazil, Russia, India, China and South Africa) countries with a 100 per
Pakistan’s largest conglomerate Engro Corp, through its strategic partnership with Veon, is eyeing expanding telecom tower-sharing coverage in Pakistan and exploring different use cases in telecom infrastructure. “Pakistan is a very large market in terms of telecom, which keeps growing larger,” Samad Dawood, vice chairman of Dawood Hercules Corp, which owns 40 per cent of Engro Corp, told Reute