Charge d’affaires of Indonesia to Pakistan Rahmat Hindiarta Kusuma has said that the current annual trade of $45 million between the two countries is much less than its potential which needs to be further increased. Speaking at the Quetta Press Club during his visit on Monday, Mr Kusuma said economic diplomacy and people-to-people contact is the main priority of the Indonesian government and “o
Waves Home Appliances Ltd (WHAL) has received a foreign player’s intention to form a strategic alliance. In a stock filing on Monday, the company said it had initiated discussions to develop a comprehensive business model that covers, among other things, the provision of technical know-how, engineering personnel, the use of the company’s brand name in domestic and export markets, management str
Businessmen were not happy with the 100 basis points interest rate cut announced by the State Bank of Pakistan (SPB) on Monday, saying they were expecting a substantial reduction of 300-500bps for the revival of economic activities. Abdul Aleem, Secretary General and CEO of the Overseas Investors Chambers of Commerce and Industry (OICCI), said the drop in interest rate was positive, but “we exp
The Federal Board of Revenue has released specifics on Monday for the collection of tax on the earnings of builders and real estate developers, as well as details for collecting income tax from other sources as legislated in the 2024-25 budget. Income tax circular No.1 of 2024-25 was published to explain the implementation of important amendments in the Income Tax Ordinance 2001. Section 7F has
The country witnessed the highest-ever outflow of profit and dividends by foreign investors in FY24 since FY18 as the State Bank of Pakistan (SBP) had to clear the backlog under pressure from the International Monetary Fund, China and others. Profits and dividends outflows recorded an almost seven times increase to $2.215 billion in FY24 from just $331 million in the preceding fiscal year. This