ISLAMABAD: The passage of the 2026-27 annual budget last week heralds two significant tax reforms that could reshape the fiscal landscape. The first is the continuation of the ambitious tariff reforms initiated last year, with a focus on reducing import duties as scheduled in the second year of the National Tariff Policy 2025-30. The second…
PM aide says reforms will help build innovation-driven, globally competitive economy ISLAMABAD: Special Assistant to the Prime Minister on Industries and Production Haroon Akhtar Khan has reaffirmed the government’s commitment to strengthening the micro, small and medium enterprises’ sector, describing it as the backbone of the national economy and a central pillar of the economic…
ISLAMABAD: The government has reconstituted the board of Pak-Arab Refinery Company (PARCO) – a strategically vital and integrated energy firm – retaining a federal minister and all but one bureaucrat as directors for three more years. Out of 10 board seats, Pakistan has the right to appoint six directors, while the remaining seats are filled…
BERLIN: Volkswagen is considering shutting four German factories and ramping up job cuts to as many as 100,000, two people familiar with the matter said on Friday, in what could be the biggest ever overhaul in the industry. Members of VW’s supervisory board have been informed of the plans, which are due to be discussed…
LA PAZ: Bolivia will adopt a flexible exchange-rate system, the government said on Friday, effectively devaluing the currency by ending a 15-year dollar peg in a major policy shift aimed at restoring economic stability. Bolivia’s central bank will oversee the shift, as the government aims to “strengthen macroeconomic stability, preserve external competitiveness and contribute to…
ISLAMABAD: The All Pakistan Glass Manufacturers Association (APGMA) has urged the National Tariff Commission (NTC) to reconsider its methodology in the ongoing anti-dumping investigation concerning soda ash imports from Turkiye and Kenya, arguing that the commission has adopted an unjustified profit assumption while calculating the “non-injurious price”. In a representation to NTC, APGMA Secretary General…
One year on, exchange sealing paralyses trade, sends negative signals to foreign investors KARACHI: The Karachi Chamber of Commerce and Industry (KCCI), while expressing deep concern over the continued sealing and forceful occupation of the historic Cotton Exchange building, has stated that it has inflicted severe damage on Pakistan’s cotton trade, disrupted hundreds of businesses…
ISLAMABAD: Pakistan Virtual Assets Regulatory Authority (PVARA) Chairman and Minister of State Bilal Bin Saqib has said that the principles of the financial system are being redefined, and Pakistan intends to play its role in shaping them. He noted that the financial system is increasingly becoming automated through software and blockchain, and software does not…
KARACHI: The KSE-100 index of the Pakistan Stock Exchange (PSX) closed the three-day week at 179,571, gaining 649 points, or 0.36% week-on-week, as the easing of geopolitical tensions and the passage of FY27 budget lifted investor sentiment. On a day-on-day basis, the PSX witnessed a range-bound session on Monday, with the KSE-100 declining 451 points…
Digital channels drive 92% of retail volume as Raast, mobile banking surge in Q3 FY26 KARACHI: Pakistan’s electronic payments landscape continued to expand during the third quarter of FY26, with retail payments through the banking system reaching 3.7 billion transactions during January-March 2026, up 9% from the previous quarter, according to the State Bank of…