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    • HOME
    • PAKISTAN
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      Pakistan condoles martyrdom of 12 Turkish soldiers in methane gas poison

      Pakistan condoles martyrdom of 12 Turkish soldiers in methane gas poison

      Pakistan urges UNSC to stop Israeli aggression against Iran

      Terrorism inflating from Afghanistan serious threat to neighbours, Pakistan warns UN

      24 dead in Texas flash flooding, two dozen campers missing

      24 dead in Texas flash flooding, two dozen campers missing

      Hamas releases two women hostages after Egyptian-Qatari diplomacy

      Hamas agree to respond ceasefire proposal in ‘a positive spirit’

      Hamas says body of captive Shiri Bibas “mistakenly mixed” with others

      Hamas seeks ceasefire guarantees as Israel intensifies attacks in Gaza

      Uttar Pradesh Police book nearly 2,000 people for offering namaz on road

      Indian Govt imposes limitations on loudspeakers in Mumbai’s mosques

      India’s government faces no-confidence vote over ethnic clashes

      After SCO Quadrilateral Security Dialogue countries reject Indian allegation over Pakistan in Pehlgam attack

      Donald Trump elected US president in historic comeback

      Trump says Israel agrees to conditional ceasefire in Gaza, Trump

      Hamas attack kills 100 Israelis, Tel Aviv’s air strikes martyr more than 200 Palestinians

      Israel killed 95 Palestinians after bombing on aid sites, cafe, school in Gaza

    • BUSINESS
      Hancock urges Johnson to back Sunak to lead the country

      Former UK PM Rishi Sunak rejoins Goldman Sachs as adviser

      Azerbaijan’s President arrives Islamabad on PM Shehbaz’s invitation

      Pakistan, Azerbaijan agree to enhance cooperation in trade, investment

      Govt lifts import ban on non-luxury items under IMF condition, Miftah

      Pakistan notifies duty cuts on imported luxury items

      Karachi: FBR seals over 30 shops for tax, PoS violations

      PM applauds FBR for collecting record tax revenue

      NEPRA notifies increase in power tariff for Karachiites

      NEPRA approves Rs1.15/unit cut in domestic electricity tariff

      Govt plans separate tax policy cell

      Rs3.5 trln tax collected from Karachi in FY24-25

      Petrol prices likely to increase up to Rs13 per litre

      Petrol prices likely to increase in Pakistan

      PM Shehbaz denounces Israeli aggression in Gaza, Lebanon and Iran

      PM welcomes Bloomberg report on Pakistan’s economic stability

      PPP breaks National Assembly quorum after controversy over resolution against canal project

      NA passes Rs 17.57tr budget 2025-26

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      Police found skin glow, anti-ageing drugs from Shefali Jariwala’s residence after her mysterious death

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      Voice of Sindh
      Home BUSINESS

      Experts demand for 4 per cent policy rate cut to facilitate businesses

      Web Desk by Web Desk
      in BUSINESS, PAKISTAN
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      Business and tax experts voiced their views and concerns and called for yet another policy rate cut from SBP as businesses across Pakistan continue to face major hits due to the coronavirus-hit economy.

      Reacting to the Pakistan Economic Survey released earlier today, business and tax experts voiced their views and concerns.

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      Industrialist Siraj Qasim Teli has called for yet another 4 per cent policy rate cut from the State Bank of Pakistan (SBP) as businesses across Pakistan continue to face major hits due to the coronavirus-hit economy.

      Teli, the chairperson of the Businessmen Group (BMG) who has formerly been associated with the Karachi Chamber of Commerce and Industry (KCCI), said it was “all about survival during these times of crisis”.

      He said whatever the Economic Survey presented was quite immaterial to the business fraternity as the coronavirus pandemic has changed the world completely. The facts and figures presented by Adviser to the Prime Minister on Finance Dr Abdul Hafeez Shaikh seem irrelevant, he added.

      Teli noted: “We have suggested to the ministry to reduce taxes such as the sales tax, income tax, and the withholding taxes so that the people can save more money.

      “Businesses of all sizes are affected due to the pandemic and so the government should reduce utility bills for entrepreneurs and business community to float their businesses during these hard times, These incentives should be given for at least one year,” he stressed.

      The industrialist reiterated the business community’s demand to cut the policy rate, which currently stands at 8 per cent. “To date, we are stressing that the interest rates should be brought down to at least 4 per cent.

      Earlier today, Shaikh, the prime minister’s finance adviser, had presented the Pakistan Economic Survey 2019-20, which indicated that the country’s economy had shrunk 0.38% as the coronavirus pandemic wreaked havoc.

      The adviser highlighted the state of the Pakistani economy in the outgoing fiscal year, noting that the virus outbreak had dealt a serious blow towards the last quarter of the year.

      Shaikh revealed that the GDP was expected to contract 0.38% in FY2020 despite a 2.67% growth in the agricultural sector. However, the industrial and services sectors experienced a 2.64% and 0.59% squeeze, respectively, this year.

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      Voice of Sindh is an initiative designed to uncover the untold stories of Sindh. It aims to preserve and promote the diverse culture, heritage, history, and traditions that make Sindh the bastion of pluralism and progress.

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