Business News
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Event organisers to bear 10% withholding tax imposed on marriage halls
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[ad_1] An image of a wedding hall. — Facebook KARACHI: In yet another blow to already burdened citizens, the Federal Board of Revenue (FBR) has imposed a 10% withholding tax on marriage halls, which will be borne by event organisers. In a statement issued on Friday, Rana Raees — President of the Marriage Hall Association…
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Govt denies reports of discounted oil deal with Moscow
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[ad_1] A representational image showing crude oil tankers off the shore of Karystos, on the Island of Evia, Greece, May 26, 2022. — Reuters ISLAMABAD: Minister for Petroleum Musadik Malik on Wednesday rubbished the reports suggesting that Pakistan and Russia had reached an agreement for the supply of discounted crude oil. Speaking to reporters, Malik…
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Inflation drops to 4.9% in November, marking a 78-month low
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[ad_1] A shopkeeper listens to a customer as he sells groceries at a shop in a market in Karachi, Pakistan June 10, 2022. — Reuters Pakistan’s inflation rate slowed significantly to 4.9% year-on-year in November 2024, down from 7.2% in October, beating official forecasts and hitting its lowest point since 2018, according to data released…
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Petrol price increased by Rs3.72 per litre for next fortnight
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[ad_1] Motorcyclists waiting for their turn to fill fuel in their bikes at petrol pump on May 16, 2024. — APP The federal government on Saturday announced a Rs3.72 per litre increase in the price of petrol for the next fortnight, starting from December 1. As per a notification issued by the Finance Division on…
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SBP receives $500m from ADB under climate resilience programme
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[ad_1] Children stand as their family takes refuge along a damaged road amid a flood, following rains and floods during the monsoon season in Bajara village, at the banks of Manchar lake, in Sehwan, September 6, 2022. — Reuters In a boost to foreign exchange reserves held by the central bank, Pakistan on Thursday received…
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Many cities risk fuel shortage amid supply chain issues
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[ad_1] People wait for their turn to get fuel at a petrol station. — Reuters/File ISLAMABAD: The innumerable roadblocks and other preventive measures taken by the government against Pakistan Tehreek-e-Insaf’s (PTI) march towards Islamabad have hindered fuel supply across the country leading to a risk of fuel shortage in several cities. In a statement, Petroleum Dealers…
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Bloodbath at PSX as worsening political turbulence claims over 3,500 points
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[ad_1] Brokers are busy in trading at Pakistan Stock Exchange (PSX) in Karachi on Thursday, October 17, 2024. — PPI Stocks on Tuesday nosedived as Pakistan Tehreek-e-Insaf’s (PTI) ‘do-or-die’ protest march in Islamabad turned violent, panicking high-strung local and foreign investors into shedding risky assets, resulting in a bloodbath. The day’s trading began with turbulence,…
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PSX storms past 99,300, defying political chaos in intraday trading
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[ad_1] Brokers are busy in trading at Pakistan Stock Exchange (PSX) in Karachi on Wednesday, October 23, 2024. — PPI After starting off on a negative note, the capital market on Monday weathered the political uncertainty stemming from Pakistan Tehreek-e-Insaf’s (PTI) ‘do-or-die’ march towards the federal capital, with investors turning the tide banking on strong…
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Protests costing country a whopping Rs190bn a day, says Aurangzeb
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[ad_1] Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb addressing media persons at PTV Headquarters.— APP/File Finance Minister Muhammad Aurangzeb on Sunday revealed that Pakistan’s economy suffers a staggering loss of Rs190 billion daily due to the closure of roads and shutdowns caused by the opposition’s protest calls. The minister made these comments as caravans of the…
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Pakistan issues Rs55 memorial coin on Guru Nanak’s birth anniversary
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[ad_1] This photo features both sides of Rs55 commemorative coin issued by the SBP on 555th Jayanti of Guru Nanak Dev Ji. — SBP On the auspicious occasion of 555th “Jayanti” of Guru Nanak Dev Ji, the founder of the Sikh religion, the State Bank of Pakistan on Friday released a Rs55 commemorative coin. The…
