As the government continues to struggle in maintaining discipline across its departments, the Civil Aviation Authority (CAA) has approached the Supreme Court of Pakistan in a tax dispute exceeding Rs50 billion against the tax authorities. The CAA, which oversees Pakistan's aviation industry, filed a civil petition for leave to appeal despite the Sindh High Court's directive to resolve the inter
The Asian Development Bank (ADB) has assured Pakistan of providing $2 billion annually in new loans, as Islamabad seeks half of the amount on concessional terms amid government's inability to get cheaper credit due to its worsened ratings. The assurance to provide $2 billion per annum has been given by the visiting ADB president Masatsugu Asakawa during his interaction with Pakistani authoritie
Continuing its upward momentum from last week, the equity market opened on a positive note on Monday, buoyed by a favourable economic outlook due to rising exports and surging remittances. The KSE-100 index, the benchmark for the Pakistan Stock Exchange (PSX), started the day with bullish sentiment, peaking early in the session. However, profit-taking in the latter half of the day pulled the i
Around the world, financial services professionals — particularly some variety of bankers — are known for their haughtiness. Prestigious schools, inhumanely rigorous training as analysts, and partying at expensive clubs and yachts all help build that reputation. But the fact that they handle and allocate so much capital at least somewhat justifies it. The same arrogance found its way through the l
The President of the Asian Development Bank (ADB), Masatsugu Asakawa, visited the Benazir Income Support Programme (BISP) Tehsil Office in Taxila to observe its initiatives aimed at providing cash assistance, supporting enrolment in schools and maternal and child health in the country. During the visit to the BISP Tehsil Office in Taxila and the Benazir Nashonuma Centre at Wah General Hospital,