The central bank has forecast Pakistan’s real GDP growth to fall in the range of 2-3 per cent in the current fiscal year, it said in its annual economic report released on Monday. In June, the previous government approved an estimated 3.5pc GDP growth target for its 2023-24 financial year budget. However, in its report, the State Bank of Pakistan (SBP) said…
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KARACHI: Pakistan’s oil regulator has convened a series of meetings with local refineries this week to finalize the upgrade agreement and the escrow account agreement under the new refining policy, sources told The News on Monday. The Oil & Gas Regulatory Authority (OGRA) has been slow in finalizing these agreements, which are required to be completed within three months of…
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PARIS: Governments should open a new front in the international clampdown on tax evasion with a global minimum tax on billionaires, which could raise $250 billion annually, the EU Tax Observatory said on Monday. If levied, the sum would be equivalent to only 2 percent of the nearly $13 trillion in wealth owned by the 2,700 billionaires globally, the research…
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NEW YORK: Oil prices fell over 2 percent on Monday as diplomatic efforts in the Middle East intensified in an attempt to contain the conflict between Israel and Hamas, easing investor concerns about potential supply disruptions. Brent crude futures were down $2.02, or 2.2 percent, at $90.14 a barrel as of 1655 GMT. U.S. West Texas Intermediate crude futures were…
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LAHORE: Pakistan is providing foreign investment facilities in various sectors through Special Investment Facilitation Council (SIFC) and the Dutch companies must bring more investment here, Governor Punjab Muhammad Balighur Rehman said. “Pakistan is offering favorable business opportunities to international companies in various sectors,” the governor said during a meeting with the Honorary Consul for Netherlands Asma Hamid in Lahore, who…
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