In a move to bring property valuations closer to market rates, the Federal Board of Revenue (FBR) has raised property valuation rates to up to 80 per cent across 56 cities, aiming to boost revenue collection and redirect investment into more productive sectors of the economy. The new rates will take effect from Nov 1. This latest revision covers 12 new cities, including Bannu, Chiniot, Kotli
Global commodity prices are set to tumble to a five-year low in 2025 amid an oil glut that is so large that it is likely to limit the price effects even of a wider conflict in the Middle East, said the World Bank on Tuesday. In its latest Commodity Markets Outlook (CMO), the bank said that despite this drop, the overall commodity prices will remain 30 per cent higher than they were in the five
THE government has received only one bid for the privatisation of Pakistan International Airlines (PIA), Bloomberg reported on Tuesday. A total of six consortiums had qualified to bid for the loss-making entity. However, five of them stayed away from the process. The sole bidder has deposited “earnest money” for the transaction with the Privatisation Commission by Tuesday’s deadline, Ahsan I
Amid delays in securing an International Monetary Fund (IMF) support package, Pakistan’s foreign assistance inflows plunged by 60 per cent to $2.3 billion in the first quarter of the current fiscal year (July-September), down from about $5.73bn in the same period last year. In its monthly report on Foreign Economic Assistance (FEA) released on Tuesday, the Economic Affairs Division (EAD) said t
Investors are selling yen and taking shelter in cash, India, pockets of China’s markets and Singapore dollars ahead of a US election that could shake out global money and trade flows. Asia’s financial markets stand on the front line of what could be a wild ride when votes are tallied and in the months ahead since the region is an export powerhouse and shares and currencies are sensitive to chan