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Articles for tag: commercial, Experts, footprint, governments, PIA, privatization, reflects, seriousness, shrink

December 28, 2025

News Desk

PIA privatization reflects government’s seriousness to shrink commercial footprint: experts

A PIA plane is pictured mid-flight. — AFP/File KARACHI: Experts have hailed the delayed privatization of Pakistan International Airlines (PIA) saying the move sends a strong signal to investors that the government is serious about shrinking its commercial footprint and tackling inefficiencies that have drained public resources for years. The News reported on Wednesday. “The government will have to make sustained efforts to get out of business,” Uzair Younus, a Washington-based economic analyst, said in comments to the report. He described the PIA transaction as a turning point, adding that other sectors, particularly energy, should follow. “Privatization and deregulation of

October 22, 2025

News Desk

Shehroze Kashif left in the lurch amid government’s ‘forgotten promises’

Pakistani mountaineer Shehroze Kashif posed with the national flag on a mountain peak. — X@Shehrozekashif2 Young Pakistani mountaineer Shehroze Kashif, who has proudly hoisted Pakistan’s flag on all 14 of the world’s 8,000m peaks, has once again expressed his dismay at the government’s “failure to fulfill repeated promises of support”. Taking hold of X, the 22-year-old climber — the youngest Pakistani to climb all 14 eight-thousanders — said: “The government promised me prize money many times, but everyone has forgotten.” Despite national recognition and being awarded the Hilal-e-Imtiaz earlier this year, Kashif claims the financial rewards have yet to materialise.

December 22, 2024

News Desk

Tax evaders will face strict action as part of the government’s efforts to boost revenue collection

Representative image of a shopkeeper reading a newspaper selling betel leaves, cigarettes and candies in Karachi. — Reuters/File PM emphasizes using video analytics to improve revenue collection. It directs its rapid application in cement factories and tobacco factories. Premier calls for speedy completion of digitization of FBR’s value chain. LAHORE: As the federal government continues efforts to expand the tax net and increase revenue generation, Prime Minister Shehbaz Sharif has asked the authorities to take strict action against tax defaulters, The News reported on Sunday. “Improving the performance of the Federal Board of Revenue (FBR) through technology is the top

October 3, 2024

News Desk

With 130 dead in Hurricane Helene, Biden defends US government’s response

A drone view shows a flooded and damaged area after Hurricane Helene in Horseshoe Beach, Florida, September 28, 2024. — Reuters VALDOSTA: The death toll from a devastating storm that hit the southeastern United States rose to at least 130 on Monday as the disaster became a hot topic in an already bitter election campaign, with the White House angrily denying allegations that it was slow to respond . With hundreds still missing in several southeastern US states and the death toll rising, President Joe Biden announced he would travel to storm-battered North Carolina on Wednesday to monitor rescue efforts.

August 6, 2024

News Desk

The government’s rights movement begins with the IT ministry

Islamabad: The government has decided to close and privatize some institutions under the Ministry of Information and Telecommunications as part of the federal entitlement program. Sources say that the IT ministry has issued instructions for this purpose. Earlier, there were talks of shutting down the IT ministry entirely, but telecom companies opposed the move, arguing that the ministry acts as a critical link to address industry issues. Consequently, the government chose to close down some departments within the telecom ministry. The Institutional Reforms Commission (IRC) ordered that the Telecom Foundation be closed down, with its subsidiaries privatised. The National Information

July 27, 2024

News Desk

The cabinet examines the government’s right

Islamabad: A committee set up by the cabinet considered a range of options, including closing five ministries to achieve the federal government and state-owned enterprises (SOE) entitlement target. These ministries include the Ministry of Information Technology and Telecommunications, the Ministry of Kashmir and Gilgit-Baltistan Affairs, the Department of States and Frontier Regions (SAFRON), the Ministry of Industries and Production and the Ministry of National Health Services, Regulations and Coordination. The cabinet is considering different courses of action, including retention, closure, retention with modification or transfer to provinces. Sources told The Express Tribune that a presentation was made in a recent

July 24, 2024

News Desk

Mills are seeking government’s nod to export sugar

Islamabad: Sugar producers have approached the government seeking permission to export another 850,000 metric tonnes of sugar in two phases, drawing criticism as prices are already high in the domestic market. The request to export the sweetener was tabled at a meeting of the sugar advisory board on Tuesday. Earlier, the government had linked the export of sugar with a Rs 2 per kg increase in the retail price, meaning that if rates were to rise by Rs 2 in the country, exports would stop. Now, the sugar industry is asking to link exports with an increase of Rs 15

July 18, 2024

News Desk

King Charles unveils Labor government’s legislative agenda amid pomp

LONDON: Britain’s King Charles unveiled Prime Minister Keir Starmer’s legislative agenda on Wednesday, promising a service government focused on reviving the economy and tackling issues from acute homelessness to the cost-of-living crisis. In a ceremony full of pageantry, before an audience of robed lords and lawmakers, Charles read out the laws the government is prioritizing after Starmer’s centre-left Labor Party won a large majority in this month’s election. The package of more than 35 bills will focus on growing the economy, reforming zoning laws to make it easier to build homes, and speeding up the delivery of major infrastructure projects,

June 27, 2024

News Desk

The IMF rejects the government’s move to cut tax rates and grant concessions

The scourge of the International Monetary Fund (IMF). — AFP/File The IMF rejects the return of export revenues to a fixed tax regime. The Fund wants all income to be treated under the normal tax framework. The lender accepts the government’s demand to scrap GST on textbooks. ISLAMABAD: The International Monetary Fund (IMF) has refused to grant concessions on most of the items proposed in the Economic Bill 2024-2025. The Fund, so far, has agreed to abolish the Goods and Services Tax (GST) on textbooks, restore deductions for teachers and researchers, withdraw the Federal Excise Duty (FED) on cement and

June 25, 2024

News Desk

The government’s cuts suggested the PSDP in size

Islamabad: Hours before its approval by the National Assembly, the government decided to cut the proposed Rs1.4 trillion Public Sector Development Program (PSDP) by Rs250 billion in a bid to create fiscal space to withdraw some taxes without jeopardize the expected International Monetary Fund agreement (IMF). Government sources told The Express Tribune that the finance ministry had conveyed its decision to cut the proposed development funds for the financial year 2024-25 by a record amount of Rs 250 billion. The reduction in the size of the GDP even before its approval is more than 17% of the amount approved by

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