Business

KARACHI: Amid rising interest rates and the declining value of rupee, the share of financing in total auto sales has decreased to 20 per cent from the 30-35pc in the last fourteen months. Chief Executive Officer and Partner Honda Drive-In and Honda Quaideen Shabbir Alibhai said the share of auto loans has fallen from almost 35pc of the total invoicing …

ISLAMABAD: The Pakistan Tehreek-i-Insaf (PTI) government has almost finalised its first tax amnesty scheme to provide people with the means to legitimise all kinds of offshore and onshore undeclared assets at the rates of five to 10 per cent. Prime Minister Imran Khan would approve the new tax amnesty scheme on Monday, claimed a senior finance division official while speaking …

WASHINGTON: Pakis­tan is likely to hold crucial discussions on an IMF bailout package this week when Finance Minister Asad Umar arrives in Washington to attend the spring meetings of the World Bank group, which includes the International Monetary Fund. Mr Umar said at a news briefing in Islamabad on Friday that he hoped his discussions in Washington would be fruitful …

The National Price Monitoring Committee (NPMC) reported on Thursday that a recent spike in the prices of perishable goods was primarily due to seasonal variations, the impact of which is now subsiding. An NPMC meeting, chaired by Finance Minister Asad Umar and attended by members of relevant federal ministries and provincial departments, was held to review prices of perishable and …

LAHORE: The massive increase in prices of medicines has been challenged before the Lahore High Court for being made in violation of a notification of the Drug Regulatory Authority of Pakistan (Drap). Nadeem Sarwar, a lawyer, assailed the new drug prices through a writ petition filed against federal and provincial health authorities. He states the Drap announced hike in the prices of …

LAHORE: The Pakistan Muslim League-Nawaz on Thursday submitted a resolution to the Punjab Assembly demanding that the federal government appoint Ishaq Dar as finance minister on contract to steer the country out of financial crisis. Filed by PML-N lawmaker Hina Pervaiz Butt, the resolution said Finance Minister Asad Umar had failed to deliver and steering the country out of the …

ISLAMABAD: The government is planning to amend Foreign Exchange Regulations Act (Fera) 1947 to regulate outflow of funds through foreign currency accounts and local transportation of foreign exchange through greater clarity to the legal system. “The proposed amendment has been approved by the Federal Cabinet and transmitted to parliament for enactment”, said the finance ministry adding the measure was part …

IANT and Muslim American Chamber of Commerce hosted a candidate forum for Richardson City Council By:Amir Makhani  Dallas: Islamic Association of North Texas (IANT)and Muslim American Chamber of Commerce hosted a candidate forum for Richardson City Council. Many Muslim community members participated in the event. Candidate forum was conducted by Muslim American Chamber’s President Ghulam Jangda. The event was participated …

On a humid evening in India’s south, drummers and dancers heave to Kamal Haasan’s blockbuster hits, whipping a huge crowd into ecstasy just as the moustachioed megastar himself steps onto the stage. There is a red carpet, confetti and coloured lights rippling over the sea of jiving fans screaming Haasan’s name, but this is no concert — it’s an Indian …

ISLAMABAD: The Economic Coordina­tion Committee (ECC) of the cabinet on Wednesday ordered immediate import of 100,000 tonnes of urea after it was informed that its market price surged to Rs1,850 as the sowing season had just begun. The ECC meeting, which was presided over by Finance Minister Asad Umar, was informed that urea prices had gone up by Rs150 per …