Business News
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Gold uptrend continues as rupee sees no major change
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[ad_1] People buy gold jewellery at a store in Amritsar, India on October 22, 2022. — AFP/File As the rupee continued to see no major changes, gold prices gained for the second straight day on Tuesday. The price of gold (24 carats) increased by Rs300 per tola and Rs257 per 10 grams to reach Rs217,400…
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Pakistan shares $3bn ‘financing plan’ with IMF
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[ad_1] The International Monetary Fund (IMF) logo is displayed outside its headquarters in Washington, DC, on October 8, 2022. — AFP ISLAMABAD: In a bid to unlock the much-awaited International Monetary Fund (IMF) programme, the government on Tuesday shared its plan with the lender for securing an additional $3 billion to bridge the financing gap,…
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NA approves resolution for not releasing Rs21bn election funds to ECP
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[ad_1] A National Assembly session underway on April 10, 2023. — Facebook/NationalAssemblyOfPakistan ISLAMABAD: The National Assembly approved a resolution of the Standing Committee on Finance and Revenue to not release Rs21 billion for election, despite the apex court’s deadline to issue the funds by April 17 (today). Earlier on Monday, the committee sent the resolution recommending…
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‘Avanceon, ZOMCO JV an opportunity for Pakistan’ | The Express Tribune
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[ad_1] KARACHI: In a major development for the Pakistani information technology (IT) industry, Avanceon Saudi for Energy Company, a subsidiary of Avanceon Limited, has entered into a joint venture with ZOMCO (Zamil Operations and Maintenance), a subsidiary of the Zamil Group, based in Saudi Arabia. The joint venture agreement is aimed at expanding the project…
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‘Economy is on the brink of collapse’ | The Express Tribune
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[ad_1] Experts in the field of economics have sounded the alarm on Pakistan’s economic future, urging the country to ramp up its exports and take control of its fiscal deficit. Speaking at a webinar entitled “The State of Pakistan’s Economy – Moving Forward,” hosted by journalist Talha Jatoi, the panel included Former Chief Economist of…
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Price of gold jumps by Rs1,100 per tola in Pakistan
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[ad_1] A shopkeeper displays gold bars in this undated file photo. — AFP The price of gold in the domestic market increased again on Monday, a day after a major drop due to a decline in the international gold rate. The price of gold (24 carats) jumped by Rs1,100 per tola and Rs943 per 10…
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SBP issues statement regarding encashment of withdrawn prize bonds
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[ad_1] Eighth draw of Rs25,000 Denomination Prize Bonds held at State Bank of Pakistan Lahore on December 12, 2022. — NNI The State Bank of Pakistan (SBP) on Monday reminded the public that June 30 is the last date for the encashment and redemption of the withdrawn prize bonds of Rs7,500, Rs15,000, Rs25,000, and Rs40,000.…
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Summary on poll funds to be presented in cabinet as SC deadline ends today
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[ad_1] Prime Minister Shehbaz Sharif chairs a cabinet meeting in Islamabad on Tuesday in this undated photo. — APP/File ISLAMABAD: The National Assembly’s Standing Committee on Finance and Revenue has decided to present the summary of funds to be released to the Election Commission of Pakistan (ECP) in the federal cabinet today (Monday). As the deadline…
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Ministry releases Rs129b for development projects | The Express Tribune
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[ad_1] ISLAMABAD: Despite financial constraints and disruptions caused by floods last year, the Ministry of Planning has released Rs129 billion for development projects under the Public Sector Development Programme (PSDP) for the fourth quarter of the year 2022-23. The Water Resource Division and the Higher Education Commission (HEC) have been given top priority in the…
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The cost of infighting, conflicts | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan, especially after the 1971 debacle, entered into a very difficult economic phase. Before that, most of its exports were from its eastern wing, while the western wing was the real seat of government and elite capitalists. The country needed the all-important foreign exchange to support its dollar spending but faced an almost…
