Business News
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Pakistan sees slight rise in forex reserves
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[ad_1] US $100 bills pictured in this undated image. — AFP/File Amid a liquidity crunch being faced by Pakistan, the country’s foreign exchange reserves held by the State Bank of Pakistan (SBP) got a slight boost of more than $100…
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Ministers paint a gloomy economic picture | The Express Tribune
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[ad_1] ISLAMABAD: Defence Minister Khawaja Asif on Wednesday painted a very dismal picture of the national economy, lamenting that how could a budget be prepared in the country where tax evasion topped Rs3,500 billion. Taking part in the budget debate…
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Pakistan’s 2024 budget a missed opportunity: IMF | The Express Tribune
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[ad_1] ISLAMABAD’: The International Monetary Fund (IMF) on Wednesday said that the proposed budget missed the opportunity to broaden the tax base, terming the new tax amnesty scheme a “damaging precedent”. In a first official reaction to the expansionary Rs14.5…
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Gold price plummets by Rs2,500 per tola amid cyclone concerns
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[ad_1] An undated image of gold bangles displayed at a store. — AFP/File The gold price in Pakistan on Wednesday declined amid drop in the international rates as well as the looming cyclone Biparjoy which has created fears among the…
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SSGC suspends gas supply to industries as Biparjoy draws closer to Sindh
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[ad_1] An undated image of three men working in a factory on the outskirts of Karachi. — AFP/File The Sui Southern Gas Company (SSGC) Limited on Wednesday suspended gas supply to all industries including their units for power generation, fertiliser…
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Pakistan’s chances of securing IMF bailout are dimming: Moody’s
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[ad_1] An undated image of Moody’s headquarters in New York, US. — AFP/File Moody’s Investors Service has warned that Pakistan is at an increased risk of failing to restart its $6.7 billion bailout programme with the International Monetary Fund (IMF),…
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Moody’s fears Pakistan will fail to revive IMF programme | The Express Tribune
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[ad_1] KARACHI: Moody’s Investors Service on Wednesday said Pakistan is feared to fail on reviving the International Monetary Fund (IMF)’s stalled loan program worth $6.7 billion by the time it officially expires in two weeks on June 30. Without the…
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Budget assailed for lacking relief for poor | The Express Tribune
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[ad_1] ISLAMABAD: The federal budget came under heavy criticism, even from a federal minister, in the National Assembly on Tuesday, as the lawmakers questioned the government’s performance during the last one year. The lawmakers, including dissident Pakistan Tehreek-e-Insaf (PTI) member…
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Rupee recovers Rs7 vs dollar in open market | The Express Tribune
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[ad_1] KARACHI: Pakistani currency maintained its losing streak for the third consecutive working day on Tuesday amid mounting debt repayment pressure in June, the last month of current fiscal year. Analysts projected a sharp devaluation of the currency if the…
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Gold price in Pakistan continues downward trajectory
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[ad_1] Gold bangles are displayed at a jewellery store in this undated file photo. — AFP/File KARACHI: The gold price in Pakistan on Tuesday continued to lose its shine for the second consecutive day this week due to several reasons…
