FPCCI links proposal to upcoming Solar & Storage Expo, cites need to cut energy costs LAHORE: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has called for a special concessional financing scheme at 3% markup for solar battery purchases, as the Pakistan Solar Association prepares to host the Solar & Storage Expo 2026…
Oil prices edged up on Friday before a long holiday weekend in the US, as wary optimism held over efforts to secure peace in the Middle East between the United States and Iran. Brent futures climbed 46 cents, or 0.64%, to $72.26 a barrel as of 0407 GMT. West Texas Intermediate was up 32 cents,…
There are apprehensions that some exporters keep part of their proceeds overseas by understating the value of their goods or bringing some as exports of services to avoid income tax, according to sources. photo:file ISLAMABAD: The government has missed the export target by a wide margin of $5.2 billion, as receipts during the last fiscal…
BOP has become the first and only provincial bank in Pakistan to achieve the nation’s highest credit rating LAHORE: The Bank of Punjab (BOP) has been upgraded to a long-term entity rating of AAA from AA+ by the Pakistan Credit Rating Agency (Pacra), with the short-term rating held at A1+ and a stable outlook. BOP…
Project to create 53,500 jobs includes aluminium refinery and 4,000MW captive power plant The logo of the Adani Group is seen on the facade of its Corporate House on the outskirts of Ahmedabad, India, November 22, 2024. REUTERS Abu Dhabi’s International Holding Company (IHC) plans to invest $11.5 billion in an integrated aluminium project in…
ISLAMABAD: The World Bank said on Wednesday that only the two largest provinces allocated Rs806 billion in grants for the Centre, recommending that Pakistan review the National Finance Commission (NFC) formula to permanently address fiscal imbalances, including backing deductions from provincial shares for seven national public goods services. The Rs806 billion grant is Rs229 billion,…
ISLAMABAD: The government has achieved the annual average inflation target of 7.5% for the just-ended fiscal year despite the impact of Middle East conflict but consumers suffered from a one-third increase in petrol prices and a 25% spike in the cost of electricity. According to the Pakistan Bureau of Statistics (PBS), the average increase in…
LAHORE: The export of live animals may provide short-term foreign exchange earnings, but it risks weakening Pakistan’s meat processing industry, reducing value addition and depriving the economy of thousands of jobs, according to business leaders and meat exporters, who have urged the government to revisit the policy. The concern has surfaced after the Punjab government…
Local rate dips Rs5,200/tola but international bullion rebounds on soft jobs data KARACHI: Gold prices in Pakistan declined on Wednesday, bucking a sharp global rally, as the local market showed muted response amid limited trading activity and rupee dynamics. According to the All-Pakistan Gems and Jewellers Sarafa Association, the price of gold per tola dropped…
It will encourage companies to improve environmental, social and governance practices ISLAMABAD: Pakistan has taken a major step towards sustainable finance as the Securities and Exchange Commission of Pakistan (SECP) has issued the country’s first ESG Mutual Funds Framework. The framework enables asset management companies to launch environmental, social and governance (ESG)-focused mutual funds, bringing…