The government has set a new ambitious export target of $60 billion over the next three years despite changes to the tax structure in the budget that have sparked widespread discontent among the country’s exporters. Commerce ministry officials craft presentations to support the wishes of every new government without considering the practical challenges faced by the export sector and the export
Global rating agency Moody’s on Tuesday said that Pakistan’s staff-level agreement with the International Monetary Fund (IMF)“ improves funding prospects, but ability to sustain reforms key to easing liquidity risks“. The Shehbaz Sharif-led government and the IMF reached a three-year, $7 billion aid package deal on Saturday, the Washington-based institution said, giving much-needed respite to
The Islamabad High Court (IHC) will look into alleged irregularities in the purchase of coal for power plants, which increased the cost of electricity generation. A group of petitioners filed an application with the court, raising questions over the bidding process for procurement of the coal. They urged the court to order the Ministry of Energy to conclude its inquiry initiated after the power
Sui Northern Gas Pipelines Ltd (SNGPL) will start receiving over 5,000 rotary gas meters and allied material, including electronic volume correctors (EVCs), in September, as the order has been placed with a Canadian firm. This procurement is a crucial part of a project to significantly reduce Unaccounted-for Gas (UFG) or line losses. In phase 1, 1,470 meters were successfully installed at Town
In a significant development, the provinces have agreed to expand the scope of sales tax to include a wide range of services from the next fiscal year. This action is in line with the International Monetary Fund (IMF) requirements under the Staff-Level Agreement reached for a new $7 billion credit line. All four provinces have made a written commitment to transition the services from a positive