Category: Business

ISLAMABAD: Inflation rose to 12.7 per cent year-on-year, the highest level in nine years mainly driven by an increase in prices of food items, the Pakistan Bureau of Statistics (PBS) reported on Wednesday. Inflation, measured by the Consumer Price Index (CPI), edged up by 1.3pc over the previous month after the PBS revised its calculation […]

ISLAMABAD: Attributing the prevailing price hike to suspension of trade with India, failure of provinces in keeping administrative control over the middleman and seasonal factors, the government’s economic team has forecast easing out the inflationary pressure in the next two months. Speaking at a news conference after a meeting of the federal cabinet on Tuesday, […]

KARACHI: Moody’s upgradation of Pakistan’s outlook from negative to stable is the recognition of tough decisions taken by the policymakers including the steep devaluation of exchange rate, said Governor Reza Baqir in a press release issued by the State Bank on Tuesday. Moody’s – international credit rating agency – raised the outlook on Pakistan’s credit […]

KARACHI: After a gap of more than 18 months, petroleum, oil and lubricant (POL) sales increased by seven per cent year-on-year in November as petrol, high-speed diesel (HSD) and furnace oil (FO) sales rose by 7pc, 4pc and 8pc respectively. On the other hand, cumulative POL sales during the 5MFY20 period fell by 8pc YoY […]

Crediting the finance ministry’s reform efforts and the International Monetary Fund (IMF) programme, the in-charge of South Asia affairs at the US State Department, Alice Wells, on Wednesday welcomed Moody’s revision in Pakistan’s credit outlook. In a tweet shared by the State Department, Acting Assistant Secretary for South and Central Asia Wells added: “With bold […]

ISLAMABAD: Amid low compliance in filing of tax returns from industrial and commercial consumers, the Federal Board of Revenue (FBR) has decided in principle to amend tax laws for disconnecting electricity and gas supplies to non-compliant clients from next month, a senior tax official told Dawn. The need for bringing change in the tax laws came […]

KARACHI: The State Bank of Pakistan (SBP) on Thursday urged currency dealers to discuss measures to further improve remittances. The dealers, however, said the grey market has already taken more than 50 per cent of their business. “We have been invited by the SBP for improvement and incentives being offered by the government for remittances […]

KARACHI: Stocks rallied on first trading day of the week, recording stellar gains of 837 points (2.13 per cent) to zoom past the 40,000-level after nine months and close at 40,124. In the last four consecutive days of positive closing, the index has accumulated gains of 2,339 points (6.2pc). The significant feature of trading on […]

ISLAMABAD: Prime Minister Imran Khan on Monday directed the Federal Board of Revenue (FBR) to simplify its system for payment of refunds so that exporters, especially small and medium-sized ones, do not face any difficulty in recovering dues. Reviewing the overall progress of his economic team, the premier noted that despite difficult conditions the government […]

Oil prices edged higher on rising expectations of deeper output cuts when OPEC and its allies meet this week, although scepticism about a deal among some analysts limited the gains. Brent futures rose 43 cents to $61.35 a barrel by 0924 GMT on Tuesday. US West Texas Intermediate crude was up 44 cents at $56.40 […]