The federal government will present the next fiscal year’s budget on June 2, with a 16 per cent lower development allocation of Rs921 billion, resulting in the likely closure of about 200 ongoing development projects. This was announced at a press conference by Planning Minister Ahsan Iqbal, who disclosed that an indicative budget ceiling (IBC) of Rs921bn for the next year provided by the Minis
KARACHI/ISLAMABAD: Foreign shipping lines are gearing up to impose heavy freight charges while some companies have planned to implement emergency operational recovery surcharge (EORS) by middle of this month. Shipping industry people said that CMA CGM has circulated a letter regarding immediate implementation of EORS on all shipments to and from Pakistan from May 15 until further notice (valid
The Pakistan Stock Exchange (PSX) on Wednesday witnessed yet another bloodbath this year — tumbling by over 3,500 points — as investors’ fears of a military action by India against Pakistan came true last night. The Pakistani military brought down five Indian jets in retaliation for late-night strikes launched by its neighbouring country at six sites in Punjab and Azad Jammu and Kashmir. The
Finance Minister Muhammad Aurangzeb and Adviser to Prime Minister on Investment Muhammad Ali arrived in London on Tuesday for talks with global financial leaders as Pakistan looks to attract investors to boost the economy. The two-day visit will include engagements with top global investors and financial institutions to accelerate foreign direct investment, according to the Privatisation Commis
Pakistan on Wednesday reinforced contingency plans to ensure operational resilience and secure communication lines across financial institutions following Indian attacks and the subsequent stock market dip. The Pakistani military brought down five Indian jets in retaliation for late-night strikes launched by its neighbouring country at six sites in Punjab and Azad Jammu and Kashmir. The plan