State Bank Governor Jameel Ahmed expressed hopes on Thursday that an uptick in remittances and dip in inflation would lend stability to the economy this year. The governor was addressing the representatives of trade and industry at the FPCCI building. He said inflation would further decline this month, but it might fluctuate over the next five months and could settle between five and seven p
The National Assembly Standing Committee on Privatisation was informed on Thursday that the International Monitory Fund (IMF) has agreed to the removal of 18 per cent GST on the purchase of new aircraft and cleaning of Rs45 billion negative equity of Pakistan International Airline Company Limited (PIACL). A meeting of the committee was further informed that it was decided to capitalise on posit
The local cotton market was showing a bullish trend as white lint rates on Thursday touched the highest mark of Rs20,000 per maund for the ongoing season. On the other hand, the Federal Board of Revenue (FBR) has called a special meeting on Monday to discuss whether to maintain sales tax exemption on imported cotton and yarn. Local cotton prices are rising because of an unexpected d
Claiming over Rs1.1 trillion in savings in revised contracts with existing independent power producers (IPPs), the government on Thursday announced a series of major decisions for reducing electricity rates, including the rejection of about 10,000MW of upcoming IPPs for being expensive and unaffordable. Speaking at a seminar on hydroelectric power in Islamabad, Power Minister Awais Leghari emph
South Korea’s Trade Minister Inkyo Cheong has outlined an ambitious plan to relocate Korea’s industrial base from its Northeast Asian neighbours to Pakistan following the signing of the Economic Partnership Agreement (EPA) between the two countries. The disclosure came during a high-level ceremony held on Thursday in Seoul where Commerce Minister Jam Kamal Khan and the Korean minister signed a