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Tahir Amin

Technology

Ministry seeks reduction in taxes/duties on mobile phones

The Ministry of Information Technology and Telecommunication has opposed Federal Board of Revenue's (FBR) taxation on mobile phones import under Baggage Rules and recommended reduction in duties/taxes on smart phones to achieve digital vision of the gover
Published 27 Dec, 2019 12:00am
Print

Inflation & current account: Two revisions to IMF programme made

Two revisions to the IMF program have been made in the first review: inflation is slightly lower in part because some of the pass-through from the exchange rate adjustments has been more moderate than anticipated, and some adjustment have also been made t
Published 25 Dec, 2019 12:00am
Print

There will be no tax amnesty schemes, IMF told

Pakistan has committed to the international Monetary Fund (IMF) of not granting any further tax amnesty schemes. According to the Letter of Intent (LoI) submitted to IMF, Pakistan has stated that "we have refrained from granting further tax amnesties."
Published 24 Dec, 2019 12:00am
Business

12-month financing needs will amount to $27.5 billion: IMF

The current projections suggest that with the policies outlined in the memorandum, the financing needs for the next 12 months (the program period) will amount to $27.5 billion. This has been stated in the "First Review under the Extended Arrangement under
Published 24 Dec, 2019 12:00am
Print

IMF says risks to outlook remain high

The absence of majority by the ruling party in the Senate of Pakistan may hinder the adoption of legislation needed to achieve program objectives, which could jeopardize the availability of external financing, besides a potential blacklisting by the Finan
Published 24 Dec, 2019 12:00am
Print

Cotton production: Target revised downward for second time

The Cotton Crop Assessment Committee (CCAC) has revised cotton production target downward for the second time in current season (2019-20) by around 37 percent and set it at 9.45 million bales against the initial target of 15 million bales, it is learnt. T
Published 24 Dec, 2019 12:00am
Print

Government says IT on BISP spending not met

Pakistan has informed the International Monetary Fund (IMF) that end-September indicative target (IT) on BISP spending was not met due to technical constraints, but committed to rectify the shortfall by end-December and reaffirmed that budgetary allocatio
Published 24 Dec, 2019 12:00am
Business

NHA reduces revenue utilization on maintenance of network

National Highway Authority (NHA) has reduced revenue utilization on rehabilitation and routine maintenance of its network and resultantly major highways and motorways are deteriorating. According to officials' documents, the NHA collected Rs 23.269 billio
Published 22 Dec, 2019 12:00am
Print

FATF seeks details of actions

The Financial Action Task Force (FATF) has asked Pakistan to apprise the anti-money laundering watchdog of the actions it has taken to comply with its 'Action Plan' by January 8, 2020, it is learnt.
Updated 22 Dec, 2019 11:41pm
Print

Foreign banks: $1.049 billion procured in 5 months

The government procured $1.049 billion from foreign commercial banks (around 35 percent) out of total external loans of $2.961 billion in the first five months (July-Nov) of 2019-20 and around 56 percent more than the comparable period of last year ($1.86
Published 21 Dec, 2019 12:00am
Print

WB says private investment only way to growth

Ranking countries on ease of doing business would take account of the prevailing economic situation from next year. This was stated by the World Bank Country Director for Pakistan Illango Patchamuthu, after he was asked by this newspaper as to how the WB
Published 20 Dec, 2019 12:00am