If You Did Not File Tax Returns Last Year You Can’t Buy Cars Or Motorcycles

JUL 1, 2018 (BE2C2): From Monday onward, only people who file their taxes will be allowed to buy vehicles. The Federal Board of Revenue (FBR) has prohibited people who do not file their taxes, or are non-filers, from purchasing cars and motorcycles. Their requests to get their vehicles registered will not be entertained either. As […]

China Lends $1 Billion to Pakistan to Boost Dwindling Foreign Reserves

JUN 30, 2018: China has lent Pakistan $1 billion to boost the country’s plummeting foreign currency reserves, two sources in the finance ministry told Reuters, amid growing speculation of another International Monetary Fund bailout. The latest loan highlights Islamabad’s growing dependence on Chinese loans to buffer its foreign currency reserves, which plunged to $9.66 billion […]

Renowned Pak Economist Dr Shahid Hassan Honored With Special Russian Award

JUN 25, 2018: Russia has honored renowned Pakistani economist Dr Shahid Hassan with a special award in recognition of his contribution towards betterment of friendly relations between the two countries. Russian Foreign Minister Sergey Lavrov conferred the award on Dr Hassan on behalf of his government in a ceremony hosted by the Association of Pakistani […]

Fourth Rupee Devaluation In One Year Shows Economic Risk Before July 25 Polls

The devaluation shows signs of vulnerability in Pakistan’s $300 billion economy; widening trade deficit, alarmingly low foreign exchange reserves, hike in oil prices, could further aggravate country’s macroeconomic fundamentals JUN 12, 2018 — Rupee slumped 3.8 percent against the dollar on Monday before slightly recovering in what appeared to be the fourth currency devaluation in […]

Huge Cost Overruns On Mega Projects, As Though Being Built On Cost Plus

All Project Cost Overruns Discussed Below Are Public Entities: While Islamabad Airport and Neelum-Jhelum Projects Are Federal, Nandipur is Punjab Govt After 18th Amendment Was Passed in April 2010. (PKonweb Note) DR. FARRUKH SALEEM: Nandipur Power Project: In 2008, the Pakistan Electric Power Company (PEPCO) signed a Rs23 billion contract with Dong Fang Electric Corporation […]