Business News
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Day trade: PSX tests 83,000 barrier on stronger economic indicators
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[ad_1] A stock broker can be seen speaking on call while looking at his screen. — AFP/File Stocks soared over 900 points in Thursday’s intraday trade, hovering near the 83,000-point mark as renewed economic optimism spurred a rush for high-dividend-yielding shares, with investors betting on further monetary easing after inflation hit a 44-month low in…
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Forex reserves strengthen to 2-month import cover: SBP chief
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[ad_1] Governor of State Bank of Pakistan Jameel Ahmad. — SBP website. Pakistan’s foreign exchange reserves jumped to a two-month import cover after receiving the first installment from the International Monetary Fund’s $7 billion Extended Fund Facility, State Bank Governor Jameel Ahmed said on Wednesday, giving the fiscally-challenged country’s external position a much-needed boost for…
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Finance minister assures PIA privatisation in ongoing year
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[ad_1] Finance Minister Muhammad Aurangzeb poses after taking oath in Islamabad, Pakistan March 11, 2024. — Reuters Amid incumbent government’s strenuous efforts to tackle multi-prong challenges faced by the country on the economic front, Finance Minister Muhammad Aurangzeb has assured the privatisation of Pakistan International Airlines (PIA) before the end of 2024. Aurangzeb, while speaking to…
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In a first, Pakistan, Russia ink barter trade deal
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[ad_1] A group photo of Pakistani and Russian delegation participating in the inaugural Pakistan-Russia Trade and Investment Forum in Mosco on October 1, 2024. — X/ @PakinRussia For the first time in history, Pakistan and Russia on Tuesday signed a barter trade deal in Moscow. Sharing a post on social media platform X, the Pakistan…
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Sindh seeks Chinese investment in e-vehicles, waste-to-energy
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[ad_1] A delegation of Chinese investors meets Sindh Chief Minister Murad Ali Shah (third from right) on October 1, 2024. — screengrab/video/supplied KARACHI: Sindh government would welcome Chinese public and private firms to invest directly in the projects of their choice or strike a public-private partnership with the provincial government, said Chief Minister…
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Headline inflation dips to 6.9% in Sept, lowest since 2021
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[ad_1] A customer buys rice at a wholesale shop in Karachi on June 8, 2023.— AFP Pakistan’s Consumer Price Index (CPI) inflation slumped to 6.9% year-on-year in September, its lowest since January 2021 and down from 9.6% in August, data from the Pakistan Bureau of Statistics showed on Monday, mostly owing to a high base…
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FBR rules out extension in deadline for filing tax returns
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[ad_1] An outside view of the Federal Board of Revenue’s (FBR) office. — X/@FBRSpokesperson/File ISLAMABAD: The Federal Board of Revenue (FBR) on Monday ruled out any possibility of extending the September 30 deadline for filing tax returns for the financial year 2024. In a statement issued today, the tax regulatory authority clarified that media reports…
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Govt slashes petrol price by Rs2.07 per litre for next fortnight
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[ad_1] People wait their turn to get fuel at a petrol station, in Karachi, Pakistan June 2, 2022. — Reuters ISLAMABAD: The federal government has cut the price of petrol by Rs2.07 for the fifth consecutive fortnight in line with the global oil rates. The new prices will be effective from October 1, according to an…
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150,000 vacant posts, ministry to be axed in govt’s cost-cutting push
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[ad_1] Federal Minister for Finance and Revenue Muhammad Aurangzeb addressing the presser in Islamabad on September 29, 2024. — Screengrab/Geo News In an effort to reduce administrative costs, the government will eliminate 150,000 vacant positions, dissolve one ministry, and merge two others, Finance Minister Muhammad Aurangzeb announced, as part of reforms agreed upon with the…
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SBP receives first tranche under IMF’s $7bn loan programme
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[ad_1] The logo of the State Bank of Pakistan (SBP) is pictured on a reception desk at the head office in Karachi, Pakistan July 16, 2019. — Reuters The State Bank of Pakistan (SBP) received the first tranche of SDR 760 million (approximately $1.03 billion) from the International Monetary Fund (IMF) on Friday as part…
