Business

6,484 companies registered with FBR through one-window facility

6,484 companies registered with FBR through one-window facility

KARACHI  – As many as 6,484 companies have been incorporated with Security and Exchange Commission of Pakistan (SECP) and automatically registered with Federal Board of Revenue through the introduction of One Window Facility launched earlier this year.The facility launched in March 2018 by the Federal Board of Revenue (FBR) in collaboration with Security Exchange Commission […]

WEF ranks Pakistan at 107 among 140 countries on Global Competitiveness Index

WEF ranks Pakistan at 107 among 140 countries on Global Competitiveness Index

GENEVA / ISLAMABAD (Dunya News) – The World Economic Forum released the Global Competitiveness Report 2018 this week. The Report has adopted a new methodology for measuring Competitiveness 4.0. by including indices which represents more knowledge and digital-based ecosystems.Although the new methodology is a reboot of the Index, where Pakistan has been ranked at 107 […]

SBP calls 6.2% economic growth target ambitious

SBP calls 6.2% economic growth target ambitious

KARACHI:The State Bank of Pakistan (SBP) has given a gloomy economic outlook for FY19, saying all the three major sectors – agriculture, industry and services – will bear the brunt of massive rupee depreciation and interest rate hike.Apart from this, narrowing down the current account deficit – which has driven the foreign currency reserves to critical […]

Govt sets target of 15 mn bales of cotton for year 2018-19: Dawood

Govt sets target of 15 mn bales of cotton for year 2018-19: Dawood

(Web Desk) – Adviser to Prime Minister on Commerce and Textiles, Abdul Razzaq Dawood has said to ensure provision of quality seeds and pesticides to the farmers for increasing their per acre yield of cotton is priority of the government.Addressing a press conference in Islamabad, he said that government has set a target of 15 […]

CDWP clears seven schemes of Rs283 billion

CDWP clears seven schemes of Rs283 billion

ISLAMABAD: The federal government cleared on Wednesday seven development schemes at a cost of Rs283 billion including the Peshawar metro bus project which was approved at 38% or Rs18-billion higher cost compared to the initial estimate of the provincial government.In its maiden meeting, the Central Development Working Party (CDWP) gave the go-ahead to five projects costing […]

ICAP rejects privatisation of Discos under current infrastructure

ICAP rejects privatisation of Discos under current infrastructure

KARACHI  – The Institute of Chartered Accountants of Pakistan (ICAP) has drafted its recommendations for government to improve situation in energy sector and have showed its disagreement over the plans to privatise Discos at this stage, terming it more hazardous if done with current infrastructure.Recommendations drafted by the Economic Advisory Committee and Government Relations Committee […]

Dollar up by 15 paisa in interbank market

Dollar up by 15 paisa in interbank market

KARACHI – Dollar rate in interbank market on Tuesday has increased by 15 paisa after which its value reached Rs134.Dollar is fluctuating between Rs132 and Rs134 in open market.According to experts, this increase in the U.S. dollar value is alarming for the economic stability, therefore, the issue should be addressed on immediate basis.Since the oath […]

Toyota raises car prices by up to Rs350,000 from Jan 2019

Toyota raises car prices by up to Rs350,000 from Jan 2019

KARACHI: The Indus Motor Company (IMC), which had recently stopped car bookings, has made a massive increase in prices following the recent round of rupee devaluation.The company has raised prices ranging from Rs50,000 to Rs175,000 for November and December deliveries and Rs100,000 to Rs350,000 for deliveries from January 2019 onwards.Indus Motor announced that it will be observing […]

ECC defers decision on hike in power tariff

ECC defers decision on hike in power tariff

ISLAMABAD  – Economic Coordination Committee (ECC) meeting chaired by Finance Minister Asad Umar on Tuesday has deferred the decision of hike in the power tariff by Rs3.75 per unit until a week.The  summary regarding a hike in power tariffs was presented in the ECC meeting today, however, the decision has been postponed till next meeting.According […]

Pakistan stock market slips below 37000 points level

Pakistan stock market slips below 37000 points level

ISLAMABAD  –Pakistan Stock Market slipped below 37000 points level, reaching the lowest level of previous two years three months. So far, the KSE-100 index has lost 976 points. During previous week, Pakistan Stock Exchange recorded a free fall where share values reached almost nine-month low mark with recorded a decline of 1,772 points because of […]

Rupee’s free fall forces Indus Motor to stop taking orders

Rupee’s free fall forces Indus Motor to stop taking orders

KARACHI: Indus Motor Company, which assembles and manufactures Toyota cars in Pakistan, has stopped taking orders because of this week’s sharp depreciation of the rupee against the US dollar, which makes import of auto parts expensive and increases the cost of production.According to the company, the depreciating rupee has resulted in an increase in its cost […]

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