SBP digitalises process for export finance scheme KARACHI: The State Bank of Pakistan (SBP) has digitalised the process for obtaining refinance by banks under the Export Finance Scheme (EFS), a statement said. –SHAHNAWAZ AKHTER Read more Rupee falls to third straight day on high oil prices KARACHI: The rupee fell for the third straight day … Read more
Rupee ends flat amid external payments KARACHI: The rupee ended flat against the dollar on Monday, amid high demand for the foreign currency for external payments, dealers said.–SHAHNAWAZ AKHTER Read more Businessmen seek govt’s help in khashkhash export KARACHI: The Union of Small and Medium Enterprises (Unisame) has sought the help of the commerce ministry … Read more
FIA summons Binance representative in multibillion crypto scam KARACHI: Pakistan’s Federal Investigation Agency (FIA) has issued a notice to summon representatives of a global cryptocurrency exchange, Binance, in a multibillion rupees scam, official sources said on Friday. –SHAHNAWAZ AKHTER Read more British Airways to stop Lahore operations by February end KARACHI: The British Airways will … Read more
ECC allows 50,000 tonnes urea import from China ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet on Wednesday allowed urea import of 50,000 tonnes from China. –HAMZA HABIB Read more Senate panel terms Finance Supplementary Bill tsunami of inflation ISLAMABAD: The Senate Standing Committee on Finance, Revenue and Economic Affairs on Wednesday termed the … Read more
Govt to launch action against 15.2 million tax evaders: Tarin ISLAMABAD: The Federal Board of Revenue (FBR) has decided to launch action against 7.2 million identified non-taxpayers and if the data provided by the National Database Registration Authority (Nadra) is added, this number will reach 15.2 million, a senior official said. –HAMZA HABIB Read more … Read more
Pakistan to receive Sri Lankan businessmen delegation KARACHI: Sri Lanka to explore more avenues of cooperation and collaboration with the business community of Pakistan by sending a businessmen delegation, a diplomat said –SHAHNAWAZ AKHTER Read more Realme to expand distribution in Pakistan KARACHI: Smartphone brand realme has partnered with three distributors for better consumer outreach … Read more
Pakistan equity market remains bullish, KSE-100 Index gains 216 points KARACHI: The Pakistan equity market started the day on a dull note, as the Federal Cabinet again delayed the approval of the refinery policy bill and rescheduled it for Thursday, dealers said. –JAVED MIRZA Read more Dollar touches new peak of Rs178.24 KARACHI: The dollar … Read more
Pakistan bourse remains bullish at midday KARACHI: The Pakistan stocks witnessed a bullish trend at midday, as the KSE-100 Index registered an increase of 5.32 points, or 0.01 per cent, on Wednesday. –LATIFUR REHMAN Read more PYMA appeals Tarin not to impose R&D on polyester filament yarn KARACHI: Saqib Naseem, central chairman of Pakistan Yarn … Read more
Current account deficit balloons to $7 billion in five months KARACHI: Pakistan’s current account deficit has ballooned to $7 billion during the first five months (July-November 2021/22 on sharp growth in import bill during the period, according to the balance of payments data released by the State Bank of Pakistan (SBP) on Monday. –SHAHNAWAZ AKHTER … Read more
IsDB to provide $180m loan for hydropower projects ISLAMABAD: The Islamic Development Bank (IsDB) to approve $180 million loan for the Mohmand Dam and other hydropower projects, official of the IsDB said. –HAMZA HABIB Read more ECC approves Rs106.1 billion for Ehsaas subsidy programme ISLAMABAD: The government has approved Rs106.1 billion Ehsaas Targeted Commodity Subsidy … Read more
Aptma urges PM to issue orders for restoration of energy supply to textile industry LAHORE: The All Pakistan Textile Mills Association (Aptma) has urged Prime Minister Imran Khan to immediately intervene in the restoration of energy, both electricity and gas, supply to the textile industry. –HASSAN NAQVI Read more PSX remains bearish; KSE-100 Index down … Read more
Dollar at new peak of Rs177.98 against rupee KARACHI: The rupee witnessed an unabated free-fall for the last several months, as the dollar hit a new record high of Rs177.98 at the closing on the interbank foreign exchange market on Wednesday, amid the monetary tightening announced a day ago. –SHAHNAWAZ AKHTER Read more PTCL Group … Read more
PCRCL seeks govt’s help in revival of sick units ISLAMABAD: Pakistan Corporate Restructuring Company Limited (PCRCL) chief executive officer Laqa Sarwar seeks government’s support for the revival of sick units. –HAMZA HABIB Read more CCP finds cartelisation in broiler chick hatcheries ISLAMABAD: The Competition Commission of Pakistan (CCP) has found collusion and price fixation of … Read more
Senate committee asks FBR to revoke revaluation of properties SRO ISLAMABAD: The Senate Standing Committee on Finance has directed the Federal Board of Revenue (FBR) to revoke the recent SRO issued on the revaluation of properties and urged the officials to determine the value of immovable properties in consultation with the relevant stakeholders in 15 … Read more
Economy on strong footings to absorb trade deficit, inflationary pressures: Tarin ISLAMABAD: A record trade deficit, double-digit inflation and increase in the interest rate of T-bills auction created panic at the Pakistan stock market but the economy is on strong footings and will grow beyond 5 per cent in this financial year, a senior government … Read more
Abad halts work on all construction projects KARACHI: The Association of Builders and Developers (Abad) on Thursday announced to halt construction work on all projects from Friday, November 26, 2021, to protest against the null and void declaration of all the projects, despite approval by the government agencies. –SHAHNAWAZ AKHTER Read more The not … Read more
Pakistan’s forex reserves inch up to $24 billion KARACHI: The foreign exchange reserves of Pakistan have increased $100 million to $24.026 billion by the week ended November 5, 2021, the central bank reported on Thursday. – BY SHAHNAWAZ AKHTER Read more FBR to abolish sales tax concession on sugar by month-end KARACHI: The Federal … Read more
