Business

Did you hear about the recent milk price hike? Milk sellers have increased prices from Rs118 to Rs200 per litre in Karachi. Mind you that the price increase has come ahead of winter. So you can imagine how much pricier milk could be in next summer. Before this, prices of tandoori roti and chapati rose Rs2-5. According to a Dawn …

Politics seems to have gotten the better of the wheat market in Pakistan. Political preferences have been ruling pricing policy for the last two months, and of late, even the position of stocks is interpreted through a political prism. The rulers, impervious to market consequences and beholden to their party politics, are playing an acrimonious blame game that is adding …

Is “Daronomics” or economic policies followed by our Finance Minister Ishaq Dar good or bad for our economy? Most commentators give a “yes” or “no” answer. However, this response is generally not based on objective criteria but on political partiality. This article presents a four-year comparison of three key economic indicators during the three previous governments. It also suggests the …

ISLAMABAD: The removal of Pakistan from the grey list of the Financial Action Task Force (FATF) will boost the economy by attracting foreign direct investment as well as address the liquidity issues faced by Islamabad, said the business community on Sunday. As it hailed the decision of the terror financing watchdog, business leaders said the FATF exit will restore the confidence of …

ISLAMABAD: The government has dismissed an IT industry’s demand for waiving a ‘negligible’ tax on its services to support the sector’s faltering exports but agreed to provide maximum facilitation, including exemption from audit by the tax authorities. Presiding over a meeting of the IT sector on Sunday, Finance Minister Ishaq Dar observed that the effective tax rate on the sector …

BRUSSELS: The Euro­pean Commission warned Germany months ago against Chinese investment in Hamburg’s port, a source close to the matter told AFP on Saturday, as Chancellor Olaf Scholz faced criticism for reportedly backing the transaction. The source confirmed information in a report by the Handelsblatt daily that the EU executive had in spring given Berlin a thumbs-down to Chinese shipping giant Cosco …

KARACHI: Trading on the stock market commenced in the outgoing week on a negative note amid the hustle and bustle in the political arena, said Arif Habib Ltd. In addition, the rupee remained under pressure and closed at 220.84 against the greenback, down one per cent from a week ago. Furthermore, reserves of the State Bank of Pakistan (SBP) remained …

ISLAMABAD: The Federal Board of Revenue (FBR) on Saturday shared details of eight major actions implemented in the last four years that led the country out of the international watchdog’s so-called grey list. Meanwhile, Hammad Azhar, former PTI minister and head of the Pakistan team dealing with the Paris-based Financial Action Task Force (FATF), also spoke at length in interactions …

ISLAMABAD: Cricket fever is here again and apart from the actual event where 12 teams are playing against each other on Australian soil, another competition is set to take place in a different arena: digital platforms and companies trying to acquire new customers by offering live streams. Amid the growing shift from the traditional electronic media to online streaming, five …

KARACHI: Habib Bank Ltd CEO Muhammad Aurangzeb said on Saturday Pakistan shouldn’t seek relief on commercial debt after the devastation caused by the nationwide floods. Speaking at a conference organised by the Marketing Association of Pakistan, Mr Aurangzeb said failing to deliver on roughly $9-10 billion of commercial debt will knock the country out of the international capital markets. “We …