The government, on Monday, deferred a decision on the privatisation of the National Bank of Pakistan (NBP) due to a legal obstacle. This move contradicts an earlier commitment made to the International Monetary Fund (IMF) to remove the special status of seven government-owned firms, including the NBP. Last month, Pakistan assured the IMF that it would withdraw the special status of these seven
At a time when the Shehbaz Sharif government is struggling to make a strategic shift from imported coal for electricity generation to Thar coal, the recent National Electric Power Regulatory Authority (Nepra) decision to revise upwards the total project cost and tariff of the proposed 300 megawatt Gwadar power project based on imported coal is quite surprising. The proposed shift from imported
The Securities and Exchange Commission of Pakistan registered 2,864 new companies in July, according to the data released by SECP on Monday. This signalled an increase of 25 per cent from the corresponding month last year and marked the highest number of companies ever registered in a month. The total number of registered companies now stands at 225,561. About 58 per cent were registered as
The federal government has stepped up efforts to find the new head of the Federal Board of Revenue (FBR) as the incumbent is set to retire on Aug 15, Dawn learnt on Monday. The government has been compelled to look for the new tax czar as the FBR chairman, Amjed Zubair Tiwana, has sought treatment six months before reaching the age of superannuation. A list of officials of the Internal Reven
Wall Street’s main indexes slumped on Monday as risk appetite among investors dropped on fears of a US recession following weak economic data last week, sending tremors across global markets. Market worries eased a bit as the day progressed and stocks pared losses after data showed US services sector activity in July rebounded from a four-year low amid a rise in orders and employment. Trader