Category: Business

The rupee hit a five-month high on Wednesday as the dollar was trading at Rs163.20 in the interbank market, data from the Exchange Companies Association of Pakistan (ECAP) showed. “Steps taken by the State Bank of Pakistan are positive and the new rules and regulations discouraging illegal currency movement in the country have helped the […]

ISLAMABAD: The Federal Board of Revenue (FBR) on Tuesday disclosed that more than Rs1.856 trillion revenue has been stuck for years due to litigation in various courts, resulting in difficult financial conditions for the country. “The appellant tribunals have been non-functional for two years,” said FBR Chairman Mohammad Javed Ghani while testifying before the Public […]

ISLAMABAD: A survey of farmers in Sindh carried out by the Asian Development Bank (ADB) revealed that Covid-19 and locust swarms had a significant impact on the livelihoods they obtained through agricultural products and disrupted food supply chains significantly. The ADB on Tuesday released the results of the survey carried out in June 2020 under the bank’s […]

BRUSSELS: The European Union on Tuesday won the right to impose tariffs on $4 billion of US goods in retaliation against subsidies for planemaker Boeing, deepening a record trade spat that has already prompted Washington to slap duties on EU imports. The World Trade Organization (WTO) tariff award, which confirms a decision first reported by Reuters on […]

The Power Division on Monday notified an increase in electricity rates by Rs1.09 to Rs2.89 per Kwh (unit) for consumers of the K-Electric (KE) to bring them on a par with the rest of the country, with effect from September 1, 2020. The Economic Coordination Committee (ECC) of the cabinet had last month approved the summary moved […]

Stocks tumbled as much as 670 points during Monday’s session as the benchmark KSE-100 index fell to a low of 40152.70 points in the afternoon hours of the session. Oil and gas exploration, cement and commercial banks led the losses during the session. The index opened on a positive note gaining 218 points in the […]

Prime Minister Imran Khan on Monday hailed a jump of 31.2 per cent in remittances for September, terming it “good news for the economy”. Pakistan received remittances of $2.3 billion in September driven by gradual re-opening of major host destinations such as the Middle East, Europe and the United States, data released by the State Bank of […]

KARACHI: A day after news reports appeared about a new SRO issued by the government regarding rules about access to foreign currency accounts, the State Bank of Pakistan said in a circular that nothing has changed. “There has been no change in the general or special permissions given by the State Bank to individuals under the foreign […]

Weekly inflation for the combined group in the period ended on October 8 increased by 1.24 per cent on the back of an uptick in prices of essential food items, data released by the Pakistan Bureau of Statistics (PBS) showed on Friday. The PBS calculates the Sensitive Price Index (SPI) based on the prices of […]

ISLAMABAD: The Tariff Policy Board (TPB) on Thursday agreed to work out a proposal for the removal of additional customs duty on 152 tariff lines to provide cheaper raw materials to domestic industries. The TPB meeting, led by Adviser to PM Minister on Commerce and Investment Razak Dawood asked the board to work out proposals […]