Business

KARACHI: The Securi­ties and Exchange Com­mission of Pakistan (SECP) has so far rounded up around 650 active non-profit organisations (NPO) under an anti-money laundering (AML) and counter terror financing (CTF) drive. This was stated by SECP’s Additional Registrar Waseem Ahmad Khan at a seminar organised by Karachi Tax Bar Association (KTBA) here on Wednesday. Most of the charitable donations in …

ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet on Wednesday approved Rs17 billion supplementary grants and decided to treat Azad Jammu & Kashmir (AJK) at par with provinces for payment of dues on hydropower generation. Presided over by Finance Minister Asad Umar, the ECC also froze Rs96bn worth of liabilities of Pakistan International Airlines (PIA) payable to the Civil …

KARACHI: Imports of fast moving consumer goods (FMCGs) have suffered a major setback after the Ministry of Commerce issued an SRO237 on Feb 19 mandating importers to print details and ingredients of the food products in Urdu and English on consumer packaging. Under the SRO, all importers have also been asked to ensure that “the logo of the Halal certification …

KARACHI: The overall cotton production fell 6.84 per cent to 10.762 million bales as of March 15 from 11.5m in the corresponding period last year, according to latest figures released by the Pakistan Cotton Ginners Association (PCGA) on Monday. Slow phutti arrivals is a strong indicator that the crop is unlikely to exceed the 10.8m-bale-mark when the season ends in …

KARACHI: Adviser to Prime Minister on Commerce Abdul Razak Dawood on Monday said the government is making efforts to extend all out support to the business community for stabilising country’s economy. Addressing a seminar on ‘Trade Opportunities in USA, China and Indonesia’, the adviser also appreciated the growth of rice industry in the country. Rice exports surpassed $2billion in financial …

KARACHI: The economy is set for a “calibrated moderation” as the country seeks a bailout package from the International Monetary Fund (IMF) to avoid a hard landing, State Bank of Pakistan (SBP) Governor Tariq Bajwa said on Monday. Addressing the Pakistan Economic Forum held by Bloomberg LP, Mr Bajwa said a general agreement already exists between Pakistan and the IMF …

LAHORE: The Imran Khan government believes that the Pakistani nationals having more than 152,500 offshore bank accounts could have stashed away a hefty sum of $11 billion, half of which is presumed to have never been declared by them, out of the country. “…the number (of offshore accounts) is mind-boggling. So is the amount involved and the names of account …

Food trade between Pakistan and India should not suffer — even when they search for peace on the border. Food commodity markets remained apparently smooth during and after the breakout of a war-like situation between India and Pakistan at the end of February. The situation has since seen some de-escalation. But it is naïve to expect that it will be …

ISLAMABAD: As competition among private investors increases, the government has ordered a scientific examination of all feasible locations for new liquefied natural gas (LNG) import and processing terminals, including the possibility of expansion and dredging of the main channel that has been facing acute traffic congestion. This comes at a time the Pakistan Tehreek-i-Insaf government is grappling with a delay …

KARACHI: Barring potato, prices of various vegetables witnessed substantial jump followed by crawling up of some pulses and sugar rates. The most notable increase was recorded in green chillies to Rs140 per kg in wholesale market from Rs12-15 a kilo. As a result, retailers are charging Rs240-320 per kg. Many retailers are avoiding giving free green chillies to the consumers …