Page 16 - Ehsan Malik News Today

EU parliament’s resolution for reviewing the preferential scheme for imports from Pakistan has triggered some panic ISLAMBAD: The expression out of the frying pan and into the fire may be considered apt for Pakistan as it faces a potential threat to its exports to the European Union just as the country had begun to recover from the impact of the Covid-19 pandemic. “Notwithstanding, the recent rise in Covid cases, Pakistan has been showing signs of a fragile economic recovery with a gradual...

KARACHI: Pakistan Business Council has recommended sustainable and competitive energy supply pro-growth fiscal policy, infrastructure and low-cost financing as the four key drivers to revive the...

Punjab govt to revise property rates in upcoming budget Top Story April 22, 2021 ISLAMABAD: Punjab government has decided to revise upward its valuation table rates of properties in consultation with the stakeholders for their respective jurisdictions for the upcoming budget 2021-22, it is learnt. Currently, there are three different valuation rates exist for properties as one notified by FBR, second valuation rates notified by DC in their respective districts and third actual valuation of th...

Tarin faces challenge to contain inflation without hurting growth Business April 18, 2021 KARACHI: Veteran banker Shaukat Tarin who’s been appointed as the new federal finance minister will face daunting challenges to control inflation, spur growth, broaden tax base and support social safety net, analysts and industrialists said on Saturday. “The key challenge for the recently appointed finance minister is to control inflation, addressing low GDP growth and the spread of the third wave of...

Rs435.7b extended to businesses under TERF Scheme was introduced to help businesses continue investment plans despite Covid-19 PHOTO: FILE KARACHI: As many as 628 businesses have acquired concessionary bank loans amounting to Rs435.7 billion for setting up new businesses and/or expanding their existing production lines in Pakistan under the Temporary Economic Refinance Facility (TERF), which expired on March 31, 2021. The State Bank of Pakistan (SBP) had launched the scheme in March 2020 for o...

KARACHI: The temporary economic refinance facility, which lapsed in March, led directly to a Rs400 billion investment in plant and machinery and indirectly to an approximately Rs300 billion...

Business March 17, 2021 ISLAMABAD: Textile exports fell 3.1 percent year-on-year and 6.8 percent month-on-month to $1.2 billion in February, the official data showed on Tuesday, as less number of working days during the month compounded the negative impact of high yarn price. In February, exports of knitwear and bedwear fell 13 percent and 1.2 percent year-on-year, respectively, according to the Pakistan Bureau of Statistics (PBS). The decline was carried out from 10.3 and 7.3 percent contract...

Freight rates jump up to 700% The transportation cost of containerised cargo across the world, including Pakistan, has increased by up to 700% due to an abnormal growth in imports following the reopening of global economies from partial lockdown amid the Covid-19 pandemic. The surge in international freight charges for sea, rail and air routes has offset the positive impact of incentives provided by the government for some imports during the pandemic and may lead to imported inflation in the co...

LAHORE: The business community has urged the government to review its decision to withdraw exemption on inter-corporate dividends, which will result in double taxation for the corporate sector, hinder corporatization and business diversification and impede growth of capital markets. The approval of the Income Tax (Section Amendment) Act 2021 to comply with IMF programme conditions, the businessmen argue, will reduce income tax exemptions for the corporate sector. The bill also proposes removal ...

Freight rates jump up to 700% Rise comes on back of growth in imports due to reopening of global economies Number of top international shipping firms has gone down to 3-4 only as many companies have either been acquired by others or merged to survive during crisis. PHOTO: FILE KARACHI: The transportation cost of containerised cargo across the world, including Pakistan, has increased by up to 700% due to an abnormal growth in imports following the reopening of global economies from partial lock...