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The government is planning to impose a price equalization levy, also known as a surcharge, on the gas produced at wellheads. This move aims to help cover the costs of subsidies for residential consumers and certain industrial sectors, easing the burden on the federal budget by Rs10-15 billion each year. This initiative is part of …
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Prime Minister Shehbaz Sharif announced on Friday that the next phase of the Pak-China ties will focus heavily on business-to-business (B2B) partnerships, particularly in the industrial sector. Speaking to representatives of international companies operating in Pakistan, he emphasized the importance of transforming the close friendship between Pakistan and China into deeper economic cooperation. The Prime …
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The National Electric Power Regulatory Authority (Nepra) has announced an increase in electricity tariffs by Rs 2.56 per unit. This hike, effective from August, is expected to generate an additional Rs 33 billion from consumers across Pakistan. The new tariff is part of the monthly fuel cost adjustment (FCA) for June and will be reflected …
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Federal Tax Ombudsman Dr. Asif Mahmood Jah has announced the opening of a help desk at the Korangi Association of Trade and Industry (KATI) to address tax issues faced by industrialists. This initiative aims to raise awareness among the public and business community about the services offered by the Federal Tax Ombudsman (FTO). Dr. Jah …
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The trade relationship between Pakistan and Morocco holds significant promise, as noted by Ambassador Mohamed Karmoune of Morocco. Speaking at a meeting with industrialists at the Korangi Association of Trade and Industry (KATI), the Ambassador expressed optimism about increasing the current trade volume to over $232 million. The event saw the participation of key figures …
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At a recent event in Karachi, Malik Tahir Javaid, President of the Employers Federation of Pakistan (EFP), highlighted the importance of responsible business practices. He emphasized that these practices promote decent work, enterprise sustainability, and social justice. The occasion was the National Conference on Responsible Businesses and the 10th Employer of the Year Award Distribution, …
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The government is considering easing the income tax burden on salaried individuals earning up to Rs100,000 per month, according to sources within the finance ministry. Prime Minister Shehbaz Sharif has tasked his finance team with exploring various options to provide this relief. This development comes as the Pakistan Muslim League-Nawaz (PML-N)-led coalition government faces mounting …
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Prioritizing Industrial Development: KATI’s Urgent Plea to Sindh Govt Karachi – The Korangi Association of Trade and Industry (KATI) plea the Sindh government to give top priority to the allocation of development budgets for industrial zones. Johar Qandhari, President of KATI, emphasized this need, especially considering past practices. Congratulating the New Ministers Qandhari extended congratulations …
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SECP Guidelines Issued for Digital Lenders: Enhancing Borrower Protection The Securities and Exchange Commission of Pakistan (SECP) has issued guidelines to NBFCs engaged in digital lending. SECP guidelines digital lending aims to ensure best practices in advertisements and call centre management. This significant move underscores the SECP’s commitment to regulating the digital lending sector effectively. …
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SBP Maintains 22% Policy Rate: Monetary Policy Statement In its recent announcement, the State Bank of Pakistan (SBP) upheld the policy rate at 22 percent after careful evaluation of economic conditions. The announcement was made after the meeting of Monetary Policy Committee in Karachi on Monday March 18, 2024 Despite a decline in inflation since …
