Representational image of a person counting Pakistani rupees. — AFP/File ISLAMABAD: Ahead of International Monetary Fund’s (IMF) $7 billion Extended Fund Facility (EFF), the federal government is set to introduce a mini-budget with an aim to generate around Rs650 billion in revenue, primarily by cracking down on tax evaders and increasing general sales tax (GST) … Read more
The Federal Board of Revenue (FBR) is preparing to raise the property valuation rates from 20% to 100% in 42 major urban centres across Pakistan, depending on the fair market value of the area. According to a media report, the updated valuation tables, finalized by the FBR, will be forwarded to the Ministry of Law … Read more
Governor of the State Bank of Pakistan, Jameel Ahmad presents the new fiscal policy at the bank’s headquarters in Karachi on January 23, 2023. — AFP SBP head says efforts ramped up to plug external financing gaps. Ahmad hopes to secure $2 billion in additional external financing. Says inflation slowing after central bank reduced interest … Read more
Omer Khan, founder and CEO of PostEx, is highly optimistic about the company’s potential to expand its eCommerce financing and logistics solutions for small merchants in Saudi Arabia. This optimism is based on positive initial testing results in both Saudi Arabia and the UAE. As a result, PostEx is set to launch in Saudi Arabia … Read more
Vice President of the US and de facto Democratic presidential election candidate Kamala Harris. — AFP/File WASHINGTON: US Vice President Kamala Harris would raise the corporate tax rate to 28% from 21% if she wins a November 5 election against Republican rival Donald Trump, her campaign said on Monday. Harris campaign spokesman James Singer said … Read more
Indian startups raised more than $395 million in at least 20 deals last week, a massive about 350% jump from $113 million secured last week in 22 deals, according to a report by The Statesman. Hospitality and travel-tech company Oyo led the funding ecosystem with raising nearly $175 million in a Series G round from … Read more
BF Biosciences Limited has planned to raise approximately Rs 1.37 billion through an Initial Public Offering (IPO) as it applied for listing on the Main Board of the Pakistan Stock Exchange (PSX). According to a notice issued by the PSX on its website, the IPO will consist of 25 million ordinary shares, which constitutes 28.3% … Read more
KARACHI: BF Biosciences Limited (BFBL) has applied for listing on the main board of the Pakistan Stock Exchange (PSX), seeking to raise a minimum of Rs1.37 billion by selling 25 million shares to institutional, high net worth, and individual investors, pending regulatory approval. The pharmaceutical company plans to use the funds to purchase new plant … Read more