Economy
IMF board approves release of $700 mln tranche
Islamabad, January 12, 2024 : IMF executive board has approved first review for Pakistan under the Stand By Agreement (SBA) which is likely to lead to the release of US$700mn tranche. This will take total disbursement by IMF under the SBA program to US$1.9bn to Pakistan and will help support foreign exchange reserves of the…
IBA Karachi launches fact-checking initiative ahead of General Elections 2024
Islamabad, January 11, 2024 : The Center of Excellence in Journalism (CEJ) at the Institute of Business Administration (IBA), Karachi has launched a non-partisan fact-checking initiative, iVerify, to advance the scope of independent and unbiased reporting in the country’s journalistic landscape. Addressing the iVerify launch ceremony at Serena Hotel, Islamabad, Amber Rahim Shamsi, Director CEJ-IBA,…
Pakistan listed sugar sector record profitability
Islamabad, January 11, 2024 : Pakistan listed sugar sector’s earnings were up 78% YoY to record high of Rs22bn in FY23 (Oct-2022 to Sep-2023). This increase is attributed to rise in sugar prices that led to higher gross margins. Ethanol, which is a by-product of sugar, also experienced improved performance in FY23 due to favorable…
Pakistan Spearheads The First-Ever Global Health Security Summit
Islamabad, January 10, 2024 : In a groundbreaking initiative, Pakistan is set to host the First-Ever Global Health Security Summit on January 10-11, 2024, bringing together Health Ministers from IHR-GHSA member states, international health leaders, experts, officials from leading health organizations, one health technical experts, global partners, donors and stakeholders to address the critical challenges…
FTO resolves 8,128 tax complaints in 2023
Islamabad, January 10, 2024: The Federal Tax Ombudsman (FTO) has resolved 8,128 complaints against the maladministration of tax and customs authorities during the year 2023 as compared to 6,106 complaints in 2022. Furthermore, the registration of complaints increased by almost 24% as 8,076 complaints were filed in 2023 compared to 6,480 in 2022. FTO has…