Business News
-
Cabinet okays 10% duty on petrol | The Express Tribune
.
[ad_1] ISLAMABAD: The cabinet has approved the imposition of 10% regulatory duty on the import of petrol from China and exempted the shipments that have already been booked for import. Earlier, the government came to know that there was zero duty on the import of oil under the China-Pakistan Free Trade Agreement (FTA). Oil companies…
-
Digital banking transactions soar | The Express Tribune
.
[ad_1] KARACHI: The traditional cash-based payment method in Pakistan has largely shifted to the digital mode, as financial transactions via internet and mobile banking through the ATM machines increased significantly, while the number of cash-based transactions dipped in the quarter ended March 31, 2022. Technically, money transactions through the ATM machines are categorised as online…
-
PTA registers Hong Kong-based ‘social media company’ | The Express Tribune
.
[ad_1] The Pakistan Telecommunication Authority (PTA) on Thursday announced the registration of a new social media company under the government’s vision to boost the digital economy of the country. According to a statement released by the telecommunication authority, the representatives of MICO World Limited attended the event held at the PTA headquarters and completed the…
-
Stocks maintain bullish streak | The Express Tribune
.
[ad_1] Stocks maintain bullish streakBenchmark KSE-100 index gains 291.37 points to settle at 41,730.16OUR CORRESPONDENTKARACHIThe stock market maintained its bullish streak on Thursday as investors remained optimistic about the revival of International Monetary Fund (IMF) loan programmme after the government increased petrol and diesel prices to Rs234 per litre and Rs263 per litre respectively.In addition,…
-
President Alvi reprimands FBR for harassing complainant | The Express Tribune
.
[ad_1] President Dr Arif Alvi on Thursday reprimanded the Federal Board of Revenue (FBR) for harassing a taxpayer who had filed a complaint with the Federal Tax Ombudsman (FTO) against the revenue authority on the non-issuance of a genuine refund. The president rejected the representation by the FBR against the order of the FTO after…
-
Electricity supply from commercial feeders to be cut from 7-10pm across Pakistan: sources
.
[ad_1] A representative image ISLAMABAD: In a major move, Power Division has decided to shut down commercial feeders from 7-10pm across the country in order to conserve energy amid soaring oil prices, it emerged Thursday. According to a Geo News report, citing sources, the division took the decision to save electricity as part of the…
-
Rupee hits all-time low of 207 in interbank market
.
[ad_1] A currency dealer is counting notes of $100 while Rs5,000 notes are placed on the table. — AFP/File KARACHI: The Pakistani rupee on Thursday maintained its downward streak and dropped to an all-time low of Rs207 in the interbank market during the intraday trade. According to the details, the local currency posted fresh losses…
-
Dollar tops 208 in interbank trade as rupee slides further | The Express Tribune
.
[ad_1] KARACHI: The Pakistani currency plummeted against the US dollar and surpassed Rs208 against the greenback. The rupee was available at Rs208.25 against the USD at 12:25pm on Thursday. The domestic currency plunged Rs1.79 to record low at Rs208.25 against the greenback at 12:25pm. The local currency had closed at Rs206.46 on Wednesday, according to…
-
‘No more loss’: Govt hikes petrol price to Rs233.89
.
[ad_1] ISLAMABAD: Finance Minister Miftah Ismail announced Wednesday that the government has decided to jack up the price of petrol from Rs24.03 to Rs233.89 per litre. “The [government] will now bear no more losses on petroleum products,” the finance minister said during a press conference, asking the masses to bear the burden for a few…
-
SBP may raise policy rate as yields stay high | The Express Tribune
.
[ad_1] KARACHI: Commercial banks have maintained interest rates at a recent 11-year high at 15.25% on financing to the government for a period of three-month, signaling that the central bank may increase its key policy rate in the range of 50-100 basis points early next month. The interest rate on financing for six and 12-month…
