Category: Business

QUETTA: The Balochistan Assembly on Saturday passed Rs19.93 billion supplementary budget for the outgoing financial year after the opposition parties staged a walkout for not being allowed to initiate a debate on it. Deputy Speaker Sardar Babar Khan Musakhail, who presided over the session in the absence of Speaker Mir Abdul Qudus Bizenjo, asked Finance […]

KARACHI: The government has announced its decision to stop borrowing funds from the State Bank of Pakistan (SBP) in the next fiscal year after cumulative borrowing in the ongoing fiscal year doubled to Rs2.7 trillion as of June 14 compared to Rs1.43tr in the same period last year. The disappointing revenue collection during the ongoing […]

ISLAMABAD: In what appeared to be a show of strength, the government on Friday morning unveiled two online portals containing information of about 53 million people pertaining to their bank accounts, properties, travel history, etc. In the evening, Prime Minister Imran Khan made a televised appeal to people to declare their tax-evaded wealth through the […]

The US Commerce Department blacklisted five Chinese tech entities Friday in a new move against Beijing’s supercomputing industry likely to raise tensions ahead of a meeting between President Trump and Xi Jinping next week. The notice targets Sugon — a prominent Chinese supercomputer manufacturer — along with three of its microchip subsidiaries and a computing […]

KARACHI: State Bank of Pakistan (SBP) Governor Reza Baqir has said that widening the tax base, facilitating exporters and a good relationship with the international community will stimulate the economy on the growth path. Speaking to Dawn on Friday, he said that Pakistan’s economy is in a relatively stable position compared to last year as […]

ISLAMABAD: The government on Friday notified an 11-member Commission of Inquiry to determine if increase in public debt between 2008 and 2018 was justified by infrastructure development programme or misused by public office-holders of the last two governments of the Pakistan Peoples Party and the Pakistan Muslim League-N. The notification has been issued by the […]

KARACHI/LONDON: Domestic one tola and 10 gram gold prices on Friday hit fresh peak of Rs78,100 per tola and Rs66,958 per 10 grams, respectively, as international bullion prices surpassed $1,400 before retreating, still holding near a six-year high on the US central bank’s dovish stance on monetary policy. Locally, gold prices saw a surge of […]

LONDON: Some of the world’s leading carriers, including British Airways, Qantas and Singapore Airlines, on Friday suspended flights over the Strait of Hormuz, as Iran-US tensions flare over the downing of a drone. The suspensions will affect many thousands of passengers and came after the Federal Aviation Administration (FAA) in the United States issued a […]

KARACHI: Honda Atlas Cars Ltd (HACL) on Friday increased the price of various vehicles by Rs260,000- 425,000, effective from Jun 24, due to recent rupee devaluation and negative exchange rate impacts. After a jump of Rs400,000, the new prices of Honda Turbo RS and 1.8L VTI CVT are Rs4.199 million and Rs3.599m respectively while the […]

KARACHI: Local gold prices touched an all-time high of Rs77,300 and Rs66,272 per tola and 10-gram, respectively, after international rates soared to five-year peak on Thursday. The yellow metal surged to $1,386.42 per ounce before settling at $1,383.04 gaining $28 per ounce in the intraday trade — the highest since March 2014 triggered by a […]