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Articles for tag: 4bn, clears, debt, enter, exit, FinMin, Multinationals, Pakistan

October 23, 2025

News Desk

Some multinationals exit, others enter as Pakistan clears $4bn debt: FinMin

Finance Minister Muhammad Aurangzeb speaking on Geo News program “Capital Talk”, Islamabad, October 22, 2025. — Screengrab via YouTube/Geo News 80% of flood damage occurred in Punjab: FinMin. Income tax relief extended to lower income earners: Aurangzeb. Minister says wheat deregulation policy expected in 2026. Finance Minister Muhammad Aurangzeb said on Wednesday that while some multinational companies have pulled out of Pakistan, several new investors are entering the market, reflecting renewed investor confidence amid signs of macroeconomic stability. Speaking of Geo News on the program “Capital Talk”, the finance minister said that the withdrawal of some foreign companies should not

December 9, 2024

News Desk

The United Arab Emirates will impose a minimum additional tax of 15% on large multinationals from January

A general view of Burj Khalifa and the downtown skyline in Dubai, United Arab Emirates, June 12, 2021. — Reuters DMTT part of the OECD Global Minimum Corporate Tax Agreement. The UAE is considering introducing corporate tax incentives. The incentive will offer a refundable tax credit of up to 50%. DUBAI: The United Arab Emirates will impose a 15% minimum supplementary tax (DMTT) on large multinational companies operating in the country from January, the finance ministry said on Monday, as the government seeks to boost non-oil revenue. The DMTT is part of the OECD’s global minimum corporate tax agreement, which

June 10, 2024

News Desk

High corporate tax rates – a barrier for multinationals

KARACHI: About 210 multinational corporations (MNCs) in Pakistan operating in sectors such as tobacco, oil, automobile, pharmaceuticals, banking and others contribute one-third of the total tax collection and contribute significantly to the national exchequer. They also reinvest in their respective units or inject funds into some new ones. In addition, they invest around Rs 13 billion annually in Corporate Social Responsibility (CSR) projects to ensure provision of facilities to around 30 to 40 million people in healthcare, education, infrastructure and community development. In line with Prime Minister Shehbaz Sharif’s aim to scale up foreign investment, MNCs have recommended that the

March 28, 2024

News Desk

Multinationals witness a threefold increase in repatriation of profits

KARACHI: Repatriation of profits and dividends by Pakistani multinational corporations (MNCs) to their overseas HQs rose 3.4 times to $759.2 million in the first eight months of the current financial year 2023-24, thanks to improved supply of foreign exchange in the domestic economy. Sectors leading earnings and dividend shipments included oil refiners, power and financials in the eight months. According to State Bank of Pakistan (SBP) data, repatriation fell to $225.4 million in the same period of the previous financial year 2022-23, after foreign exchange reserves dwindled to extremely low levels. In February 2024 alone, earnings and dividends reached $65

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