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Govt sets up Sarmaya-e-Pakistan in an attempt to turn around state-owned firms

Photo: AFP The federal government has established Sarmaya-e-Pakistan, a holding company to turn around state-owned enterprises by eliminating their losses. The Securities and Exchange Commission of Pakistan (SECP) issued a certificate of incorporation to Sarmaya-e-Pakistan under the Companies Act 2017, according to an official notification. “Turning around state-owned enterprises and ...

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Sindh government drafts law to regularise online taxi services

Photo: AFP The Sindh government has decided to regularise ride-hailing services currently operating in the province. A law has been drafted too.  The online cab-hailing services will not be allowed to operate without legal cover after the law is approved. The law requires online tax services to pay tax and get route ...

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Pakistanis bought prize bonds worth Rs134b in 2018

    The investment in prize bonds was 17% higher in 2018 as compared to 2017.  In a sign that Pakistanis are investing more in prize bonds, National Savings sold prize bonds worth Rs134 billion in 2018, witnessing an increase of 17% over the preceding year, the data from the State ...

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Gold trading at an all-time high

Gold is trading at its highest level as bullion prices surged by Rs250 per tola on Wednesday, according to data compiled by the All Sindh Saraf and Jewellers Association. A tola of gold is now worth Rs68,150. This is the highest rate for the precious metal, breaching the previous high ...

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Online tax system launched in Balochistan after five years

The Excise and Taxation Department of the Balochistan has finally gone digital after five years.  “An eight-month project was completed in five years. It is quite strange,” said Chief Minister Jam Kamal Khan while addressing the inaugural ceremony on Tuesday. “If this remains to be the pace of our economic ...

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State Bank takes FIA’s help to counter scammers

State Bank of Pakistan once again stressed that people should not share their banking information with anyone on the telephone. The central bank announced to take action against those who telephone people and trick them into revealing their banking details,  a spokesperson for the State Bank of Pakistan told SAMAA TV ...

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Finance Minister Asad Umar to chair ECC meeting today

A meeting of the Economic Coordination Committee (ECC) will take place today (Tuesday) to discuss a six-point agenda, including the government support required by PIA. Finance Minister Asad Umar will chair the meeting. According to sources, PIA is in a serious financial crisis as it failed to pay outstanding dues ...

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Pakistan’s trade gap reduces by more than $2b

Photo: AFP Pakistan’s trade deficit was recorded at $ 19.26 billion with a 9.66 % reduction during the first seven months of the ongoing fiscal year 2018-19. Pakistan’s exports remained $13.23 billion, while imports recorded at $ 32.49 billion during July to January 2018-19. Trade deficit witnessed more than $2 ...

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