Business News
-
When is the last date to redeem withdrawn prize bonds?
.
[ad_1] An undated representational image of prize bonds. — Online Keeping in view the requests from some of the prize bond holders, the State Bank of Pakistan (SBP) Tuesday announced an extension in the date to redeem withdrawn prize bonds of Rs7,500, 15,000, 25,000, and 40,000. “The federal government has given another opportunity to the…
-
Gold climbs to new peak in Pakistan
.
[ad_1] A representational image of gold jewellery. — AFP/File Gold has been on a rising spree for the last several weeks and kept hitting an all-time high. In line with the dominant trend, the price of gold climbed to a new peak of Rs182,700 per tola (11.66 gram) on Tuesday, after a jump of Rs4,500.…
-
Certain IMF conditions too harsh for public: Ahsan Iqbal
.
[ad_1] Minister for Planning and Development Ahsan Iqbal addressing the media in Lahore. — PID/ file ISLAMABAD: Federal Minister for Planning and Development Ahsan Iqbal has described some of the International Monetary Fund’s (IMF) conditions as “anti-people” and “too harsh” for the public. Speaking on Geo News programme ‘Aaj Shahzeb Khanzada Kay Saath’, Iqbal hinted at…
-
Miftah foresees default if Pakistan shuns IMF | The Express Tribune
.
[ad_1] KARACHI: Former finance minister Miftah Ismail said on Monday that he fears default if Pakistan did not approach International Monetary Fund (IMF) at this crucial time. He expressed these views at a two-day global conference arranged by Economics and Management Sciences Department of NED University. He said, “We were safe for the first three…
-
Dar chairs meeting on GIDC recovery | The Express Tribune
.
[ad_1] ISLAMABAD: Finance Minister Ishaq Dar said on Monday that each and every penny of the Gas Infrastructure Development Cess (GIDC) would be recovered from defaulters. Dar chaired a meeting on the GIDC. The meeting was informed that GIDC arrears had risen to Rs447.Officials said that there are 3,194 petitions about the GIDC were pending…
-
LCs major hurdle in completing internet projects | The Express Tribune
.
[ad_1] ISLAMABAD: The Senate Standing Committee on Information Technology and Telecommunication on Monday was informed that 1.5 million new internet connections were being provided every month, but the non-opening of letters of credit (LCs) were creating problems. The information technology ministry further informed the Senate panel that the non-opening of letters of credit was affecting…
-
Rupee downfall: Pakistani currency endured historic lows in 2022 | The Express Tribune
.
[ad_1] ISLAMABAD: As the bells for another new year are tolling, the country’s crippled economy will be hobbling into 2023 with a humiliating record of the downward spiral of rupees vis-à-vis the US dollar. With the government struggling with high import payments, depleting foreign exchange reserves and political uncertainty, the overall value of the Pakistani…
-
Pakistan-Uzbekistan PTA to take effect in Feb | The Express Tribune
.
[ad_1] ISLAMABAD: Amid issues being faced in Afghanistan by both sides, Pakistan and Uzbekistan signed an agreement on Monday to implement the Pakistan-Uzbekistan Preferential Trade Agreement (PTA), which would take effect from February 1, 2023, aimed at enhancing the trade volume to $1 billion. To overcome the problems being faced by Pakistani/Uzbek transporters, both countries…
-
Rupee bears the brunt of political clamour | The Express Tribune
.
[ad_1] KARACHI: The ongoing political drama is putting too much pressure on the Pakistani rupee against the US dollar, while the smuggling of dollars to Afghanistan and the Russia- Ukraine conflict have added to the currency’s woes. Addressing a press conference on Monday, Exchange Companies Association of Pakistan (ECAP) President Malik Bostan said, “Pakistani politicians’…
-
Bourse rallies, led by E&P stocks | The Express Tribune
.
[ad_1] KARACHI: Pakistan’s stock market made a handsome recovery on Monday following previous week’s battering as government’s move to rein in the growing circular debt and a slight easing of political noise sparked optimism among investors. Market players welcomed the news of revising the circular debt management roadmap and the constitution of a committee to…
