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Over two dozen public sector entities refusing audit - Pakistan

Senate panel to debate resistance from public sector entities, ministries to constitutionally mandated scrutiny of their accounts. ....

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Senate Panel Passes Amendment Bills on Commercial Agriculture, Banking Services and Financial Entities

Senate Panel Passes Amendment Bills on Commercial Agriculture, Banking Services and Financial Entities
newsmakers.pk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from newsmakers.pk Daily Mail and Mail on Sunday newspapers.

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PSX gives 38% return on investment

PSX gives 38% return on investment
Market expected to maintain growth momentum in new fiscal year
PHOTO: AFP
KARACHI:
Taking cue from the government’s business-friendly policies, low interest rate and economic turnaround in fiscal year 2021, the Pakistan Stock Exchange (PSX) exhibited a seven-year high performance as it gave a return of 38% on investment in shares in the year ended Wednesday.
PSX’s benchmark KSE 100 Index increased 38% (or up by 12,934 points) during the year and closed at 47,356 points. In US dollar terms, the market offered a return of 46.22% in FY21.
The market is expected to maintain the growth momentum in the new fiscal year 2022 starting on Thursday (today) following a cut of 2.5% in capital gains tax (CGT) on sale of shares to 12.5% with effect from July 1 compared to 15% since FY17. ....

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Need stressed to expedite divestment of SOEs - Newspaper

A sub-committee of the Economic Advisory Council (EAC) on state-owned entities (SOEs) on Friday called for expediting the process of privatisation and empowering their board of directors at the earliest. AFP/File
ISLAMABAD: A sub-committee of the Economic Advisory Council (EAC) on state-owned entities (SOEs) on Friday called for expediting the process of privatisation and empowering their board of directors at the earliest to improve their management structures.
Federal Minister for Finance and Revenue Shaukat Tarin presided over the meeting of the sub-committee of EAC on SOEs and privatisation. Minister for Privatisation Mohammedmian Soomro, Adviser to the Prime Minister on Institutional Reforms and Austerity Dr Ishrat Hussain and private members Arif Habib and Sultan Ali Allana attended the meeting. ....

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Roshan Digital Accounts cross $1b milestone

Roshan Digital Accounts cross $1b milestone
PM thanks overseas Pakistanis for overwhelming response
Prime Minister Imran Khan. PHOTO: FILE
KARACHI:
Overseas Pakistanis’ confidence in the domestic economy is on the rise, as the volume of their foreign currency deposits with local banks and their investments in a number of schemes through the Roshan Digital Accounts (RDA) surpassed a major milestone of $1 billion.
These inflows have played a significant role in strengthening Pakistan’s foreign currency reserves to around four-year high of over $16 billion, improving the country’s capacity to make international payments, including the import bill as well as foreign debt repayments, and stabilised the rupee-dollar parity at around Rs153. “Alhamdulillah, funds received through Roshan Digital Account have crossed $1 billion,” Prime Minister Imran Khan said on his official Twitter handle on Saturday. ....

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