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Pakistan’s debt may be soaring, but it has its benefits

Pakistan’s debt may be soaring, but it has its benefits

LAHORE: There is news in the print media that the external debt of Pakistan was hovering around $92 billion till March 2018. The current government is blamed for an astounding increase in the external debt and liabilities over the past four and a half years. There is half-truth in this statement …

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With CPEC, climate favourable for growth of IT start-ups

With CPEC, climate favourable for growth of IT start-ups

KARACHI: While Pakistan’s information technology (IT) ecosystem is evolving rapidly, experts suggest the government and private sector should lay a strong foundation for fast, healthy and balanced growth of product and service-based companies. Easypaisa can be expressed as a product-based company while TRG is a service-focused concern. In 2016, Pakistan had …

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Punjab unveils investment vehicle for SME financing

Punjab unveils investment vehicle for SME financing

LAHORE: The Investment Climate Reform Unit (ICRU) at the Planning and Development Department Punjab has unveiled a Specialised Investment Vehicle (SIVs) to provide ‘access to finance’ for small and medium businesses in the province. The investment vehicle would work through several modes such as direct investments of private equity and venture …

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Sindh govt comes up with relief package for taxpayers

Sindh govt comes up with relief package for taxpayers

KARACHI: The Sindh government has announced a sales tax relief package for its taxpayers by waiving the entire penalty, cutting default surcharge by up to 95% and giving immunity from arrest and prosecution till June 20 this year, according to a notification issued on Friday. Sindh Revenue Board Chairman Khalid Mahmood, …

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Pakistan receives $9.2b in foreign loans, but reserves still plunge

Pakistan receives $9.2b in foreign loans, but reserves still plunge

ISLAMABAD: Pakistan received $9.2 billion in new foreign loans during the first 10 months of the ongoing fiscal year, increasing cumulative borrowing by the PML-N government to over $44 billion in tenure of four years and 10 months. Largely pulled by Chinese commercial loans and issuance of sovereign bonds, the disbursements of foreign loans touched …

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Market watch: KSE-100 falls 246 points in sixth successive negative close

Market watch: KSE-100 falls 246 points in sixth successive negative close

The KSE-100 Index dropped for the sixth successive trading session, reaching close to 41,500 points as selling pressure persisted amid concerns over Pakistan’s macroeconomic indicators and political uncertainty. Concerns over falling foreign exchange reserves added to worries as the index plunged over 400 points in intra-day trading before staging a slight …

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Pakistan’s external debt soars to record $91.8b

Pakistan’s external debt soars to record $91.8b

Pakistan’s external debt and liabilities have soared to a record $91.8 billion, showing an increase of over 50% or nearly $31 billion in the past four years and nine months, the State Bank of Pakistan (SBP) has reported. The external debt and liabilities of $91.8 billion as of March-end suggest that the …

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