Business

This has been a bad year financially and economically. Almost all the major economic indicators have moved south as uncertainty prevailed along the last 10 months of the current fiscal year that badly affected investor and public confidence. Public finances appeared completely out of hand. It was generally on the basis of this summary that Prime Minister’s newly inducted adviser …

ISLAMABAD: With crucial meetings of the National Economic Council (NEC) and the federal cabinet lined up for the next few days, the government on Sunday firmed up budget proposals, including targets for taxation measures, for 2019-20. Sources said a meeting presided over by Prime Minister’s Adviser on Finance and Revenue Dr Abdul Hafeez Shaikh discussed various proposals that could create …

HYDERABAD: A multi-billion-rupee scam involving procurement of wheat and misappropriation of jute bags, also called bardana, has hit the Sindh food department after hundreds of thousands of such bags are either simply missing/ misappropriated or stuffed with chaff, it emerged on Saturday. The scam invited the attention of the National Accountability Bureau (NAB), which first sealed and then unsealed several …

ISLAMABAD: At least three important factors caused a crucial setback to the country’s dismal economic growth rate this year even though major contributors to GDP missed their targets. Informed sources told Dawn that during a presentation on the performance of macroeconomic indicators, the Annual Plan Coordination Committee (APCC) was informed on Thursday that the most crucial setback was about 17.5 …

KARACHI: The rupee’s fall seems to have dissipated due to excess supply of dollars in the open market amid seasonal effect of Ramazan followed by disappearing interest from buyers. “The inflow is high while the demand is almost at zero level. I believe currency dealers will deposit up to $5 million surplus per day in the banks till Eid,” said …

ISLAMABAD: The government announ­ced on Saturday that it would increase next fiscal’s revenue target to Rs5.550 trillion — almost 35.4 per cent or Rs1.450tr higher than current year’s revised estimate of Rs4.100tr — and all civil and military institutions would contribute to the austerity-oriented federal budget for 2019-20. The next year’s budget would have three key combinations: fiscal consolidation, austerity …

ISLAMABAD: The government looks set to reverse tax concessions extended by the PML-N government to benefit high-earning salaried and non-salaried individuals substantially more than the middle-class workforce. “We are considering reverting back to the income tax brackets applicable in the tax year 2017,” an official source told Dawn who is privy to budget-making process for 2019-20. On Sunday, a high-level …

KARACHI: Investors heaved a sigh of relief as the stock market posted recovery after snapping the seven-successive-week selling spree that had seen the stocks plunge 14pc with the KSE-100 index settling at three-year low around 33,167 points. In the outgoing week, bulls returned with a vengeance to charge in all the five sessions that saw the index rebound by 2,537 …

Future of the world economy growth largely depends on the relations between Washington and Beijing, as the current trade war and retaliatory tariffs between the two nations impact not only bilateral interests, but global economy as well, experts told Sputnik MOSCOW (UrduPoint News / Sputnik – ) Future of the world economy growth largely depends on the relations between Washington and Beijing, as the …

KARACHI: The Pakistan Stock Exchange (PSX) on Friday witnessed bullish trend for third consecutive day as KSE-100 index increased by 122.47 points (0.34%) to close at 35,703.81 points. A total of 110.418 million shares were traded, whereas the value of shares traded during the day stood at Rs 5.542 billion. Out of 290 companies, share prices of 138 companies recorded …