In 1995, the 1,292 megawatt (MW), $1.6 billion Hub Power Project was hailed as an important precedent for the viability of private finance for a major infrastructure project in a developing country. No other low-income country had made private investments a cornerstone of its energy policy at that point in time. This strategy was a reflection of hard economic realities: an unsustainable fiscal
As the Federal Board of Revenue (FBR) has advised using the IRIS portal to file returns and verify tax deductions, the business community still faces difficulty filing their tax returns. Karachi Chamber of Commerce and Industry (KCCI) President Iftikhar Ahmed Shaikh said several traders have approached the chamber complaining that the FBR’s portal for filing tax returns is not working. There
Finance Minister Muhammad Aurangzeb on Sunday announced the government’s “war on cash” as part of a strategy to tap into over Rs9.3 trillion money in circulation and maximise revenue potential. Speaking at a press conference, Mr Aurangzeb stressed that the “short-term pain” of recent policy measures would remain in place for most citizens, even as top corporations begin to benefit from nascent
While electric vehicles (EVs) have already made deeper inroads in various countries, consumers in Pakistan are still using around four decades old two-wheeler models and four-wheelers over 30 years old. In the digital age, buyers usually use the internet to verify automobile prices, especially cars and SUVs available in Pakistan, compared to rates in the world market. However, in the case of mo
While Sri Lanka may not be a model of democracy, the outcome of its presidential elections demonstrates that the country is moving in a democratic direction. The polls were free and fair, and their results were accepted by all contesting political parties. No less significant was the promise of the newly-elected president of Sri Lanka, Marxist-leaning Anura Kumara Dissanayake, to get some of hi