Express
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Import measures yield $4.8b savings | The Express Tribune
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[ad_1] ISLAMABAD: Last month, Pakistan maintained tight control over imports to offset the shortfall in foreign loans, resulting in a trade deficit of only $9.4 billion during the first five months of this fiscal year – saving about $4.8 billion through administrative measures. The latest trade bulletin from the Pakistan Bureau of Statistics (PBS) for…
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Finance ministry to oversee four SOEs | The Express Tribune
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[ad_1] ISLAMABAD: The National Highway Authority (NHA), Pakistan National Shipping Corporation (PNSC), Radio Pakistan and Pakistan Post will now function under independent boards – as the caretaker government kicked off a process to meet another condition set by the International Monetary Fund (IMF) for the release of the next tranche of $700 million to the…
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FBR exceeds tax target, avoids mini budget | The Express Tribune
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[ad_1] ISLAMABAD: The Federal Board of Revenue (FBR) has surpassed the revenue collection target for the fifth consecutive month, amassing nearly Rs3.5 trillion, remaining on track to achieve the goal set by the International Monetary Fund (IMF) and avoiding the need for a mini-budget. The tax authorities collected Rs34 billion more than the target set…
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Industrialists announce shutdown on Dec 4 | The Express Tribune
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[ad_1] KARACHI: Industrialists of Karachi have announced a strike on December 4 to protest the whopping and unaffordable gas tariffs, which have made all seven industrial zones of the port city unviable and uncompetitive. They have called for applying forthwith the reduced gas tariff of Rs1,350 per million British thermal units (mmBtu) determined by the…
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Rs70b money laundering uncovered | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan’s tax chief on Wednesday disclosed that two importers of solar panels were involved in a Rs70 billion money laundering scheme after an internal investigation revealed the involvement of five commercial banks in transferring funds to destinations like Switzerland and Singapore. “It is trade-based money laundering,” said Amjad Zubair Tiwana, the Chairman of…
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Gold surges to 3-month high at Rs221,000 per tola | The Express Tribune
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[ad_1] KARACHI: The price of gold hit a three-month high at Rs221,000 per tola (11.66 grams) in Pakistan, following a global trend, as the domestic currency remains largely stable at around Rs285 against the US dollar in the interbank market on Wednesday. With the latest increase of Rs2,600 per tola in the day, the precious…
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Saudi Arabia extends term of $3b deposit for another year | The Express Tribune
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[ad_1] Pakistan’s central bank on Wednesday reported that Saudi Arabia had extended the period of its deposits worth $3 billion for another year, a move that would help the country maintain its foreign exchange reserves and strengthen its domestic economy. “The Saudi Fund for Development (SFD) on behalf of the Kingdom of Saudi Arabia has…
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PSX soars to new peak above 60.5k | The Express Tribune
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[ad_1] KARACHI: Investors at the Pakistan Stock Exchange (PSX) on Tuesday engaged in extensive buying of attractive stocks and in the process propelled the market to a new record high well above the 60,500-point mark. The benchmark KSE-100 index shot up over 900 points as market players were enthusiastic following the signing of billions of…
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Honda unveils its first electric motorcycle | The Express Tribune
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[ad_1] KARACHI: Chief Officer of Motorcycle and Power Products at Atlas Honda, Noriaki Abe, unveiled Honda’s inaugural electric vehicle (EV) motorcycle, the Honda BENLY-e, as part of the celebration of Atlas Honda’s 60th year of operations in Pakistan. The unveiling took place during a ceremony at Atlas Honda’s Sheikhupura factory and was attended by Shinji…
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PSX crosses 60,000 points milestone | The Express Tribune
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[ad_1] Segregation of client assets is critical as brokers have been penalised for using client money illegally. PHOTO: AFP KARACHI: The Pakistan Stock Exchange (PSX) smoothly crossed the psychological barrier of 60,000 points during the early trading hours of Tuesday. The gains came due to rich individuals and institutional investors making significant new investments in expectation…
