Poverty Has Increased in Pakistan: World Bank
The World Bank (WB) has estimated that poverty in Pakistan has increased from 4.4 percent to 5.4 percent. More than two million people have fallen below the poverty line in Pakistan.The WB used the lower-middle-income poverty rate ($3.2 per day) and es…
Govt Finally Resolves Issue of Turnover Tax Exemption for SEZs
The Federal Government has exempted Special Economic Zones (SEZs) from minimum turnover tax.The Special Economic Zones (SEZ) Act, 2012, had already exempted SEZs from all taxes, but some Chinese and other investors had complained that they are still be…
Closure of Engro’s LNG Terminal to be Decided in 3 Days
After taking the opinion of the Law Division, the Cabinet Committee on Energy (CCOE) will decide whether to delay the shutdown of the Engro LNG Terminal or to continue operations, within 72 hours, the Secretary Petroleum, Dr. Arshad Mehmood, informed a…
IMF’s Program is Intact, Next Review will be in August: Finance Ministry
The International Monetary Fund (IMF) program is intact, and a new mission is expected to arrive in August to review the full year’s economic performance.The government is committed to reforms and has made significant progress since the program was lau…
Pakistani Rupee Becomes the Worst Currency Against US Dollar in Asia
The Pakistani Rupee (PKR) has crossed the Rs. 157 exchange rate against the US Dollar (USD) for the first time since March 2021. PKR closed above Rs. 157 today after posting losses continuously for five weeks, with sporadic improvements.It was not long…
KeepTruckin Raises $190 Million in New Funding
KeepTruckin – a fleet management technology company – announced that it has raised $190 million in new funding from G2 Venture Partners, Index Ventures, Greenoaks, IVP, Scale Venture Partners, funds managed by BlackRock, and several other leading inves…