Business

Pakistan is likely to receive dollar inflows from “next week”, State Bank of Pakistan (SBP) Governor Jameel Ahmad announced on Monday, hoping the country’s foreign exchange reserves position will strengthen in due course. “We are expecting to witness inflows from next week onwards, which would reduce pressure on our foreign exchange…

Pakistan stocks Tuesday plunged to a 30-month low as the country’s extremely riotous political situation freaked economy-wary investors into stampeding towards the exits, resulting in whopping losses, traders said. The KSE-100 Shares Index, the benchmark of the country’s capital market, lost 1,378.54 points or about 3.47%, to close at 38,342.21…

Ismail Industries Limited, one of the major Pakistani confectionery and snack food manufacturers, has signed up a roadmap contract with SAP for the digitization of business functions across all its operations.SAP has successfully provided a holistic solution to one of the largest manufacturers in Pakistan to improve its core system…

The potential of crypto assets in Pakistan can generate over $100 billion in total income for technology talent over the next twenty years, contributing significantly to the national economy. The last few months have exponentially increased societal, investor, and policy interest in crypto, blockchain, and Web 3.0 technologies because Pakistan…

Gold’s record rally is moving tantalisingly close to the psychologically key Rs175,000 level in Pakistan, powered by investors seeking cover from the political toll, as reflected in rupee weakness, faltering stocks and economic tensions. According to All Pakistan Sarafa Gems and Jewellers Association, the price of precious commodity jumped by…

The Pakistani rupee Tuesday depreciated against the US dollar for the fifth straight session after an increased demand for the greenback from the importers. The local unit depreciated by 0.37% (Rs0.82) on a day-to-day basis to reach 219.71 in the interbank market, according to the State Bank of Pakistan (SBP),…

Exports from the country have witnessed an increase of 40.53 percent during the first two months of current fiscal year as compared to the corresponding month of last year. According to data by Pakistan Bureau of Statistics, the exports during July-August this year were recorded at 1,043,046 million rupees as…

Finance Minister Miftah Ismail has said the government has issued an SRO to reverse the ban on imports of luxury items to meet international obligations. In his tweets on Saturday, he said the goods struck at the ports will gradually be released with penalty surcharge of up to one hundred…

Pakistan and Kyrgyzstan have agreed to enhance economic and trade cooperation and increase the regional connectivity to provide regional economic and trade integration with Central Asian States. The understanding was reached during a meeting of Minister for Commerce and Investment, Syed Naveed Qamar and Deputy Minister of Foreign Affairs of…

Minister for Finance and Revenue Miftah Ismail has reiterated the government’s resolve to take every required step to facilitate and support the business community.           He was talking to a delegation of Markazi Tanzeem-e-Tajaran Pakistan that called on him in Islamabad on Monday. The delegation apprised the…

President Dr Arif Alvi while upholding a decision of the Banking Mohtasib, has directed the United Bank Ltd (UBL) to refund the swindled amount of Rs 5.49 million to a complainant and declared that maladministration on part of the bank had been established. The president rejected UBL’s representation against Mohtasib’s…

The federal government on Sunday decreased the petrol price by Rs 3.05 but increased the price of diesel by Rs 8.95 for the next fortnight. The new prices will be effective from August 1, 2022. The Finance Division, in its notification, said that in view of the fluctuations in petroleum…

Federal Minister for Finance and Revenue, Miftah Ismail on Sunday said that the government efforts to reduce imports have finally borne fruit. Imports in July 2022, as per Federal Board of Revenue (FBR) data, were only $5 billion compared to $7.7billion in June of last Fiscal Year, the Minister said…

Minister for Finance Miftah Ismail says the government is making all out efforts to enhance ease of doing business and provide export friendly environment to the business community in Pakistan.              He was talking to a delegation of Pakistan Gems Jewellery Traders and Exporters Association…

Pakistan has notified revised control lists of goods, technologies, material and equipment for export under the Export Control Act of 2004. In a statement today [Monday], the Foreign Office said the notification signifies Pakistan’s continuing resolve as a responsible nuclear state to advance the shared goals of non-proliferation and strictly…

Finance Minister Miftah Ismail has urged the real estate sector to contribute in the economic development of Pakistan. Talking to a delegation of DHA Estate Agents Association which called on him in Islamabad today [Tuesday], he highlighted the details about the proposed taxes on the real estate sector. The delegation…

Further decline in crude oil prices was recorded during trading in the global market. Brent crude fell 5.58 dollar to 11 113.1 a barrel during trading. On the other hand, US crude oil West Texas Intermediate (WTI) fell 6. 6.83 dollar to 10 109.56 a barrel. Earlier, experts said that…

Punjab government will present the provincial budget for next fiscal year tomorrow (Monday).  The provincial Finance Department spokesperson told media in Lahore that the next fiscal year’s budget would focus on pro-poor initiatives and controlling inflation. He said no new tax will be imposed in the budget while special concessions…

The federal government on Friday presented a proposed budget of Rs. 9.502 trillion for the fiscal year 2022-23. Following is the breakup of resources and expenditure for federal budget 2022-23:- TOTAL RESOURCES (I to V): Rs. In Billion:  9,502 (FBR) – Federal Consolidated Fund:  7,004 Non-Tax Revenue: 2,000 a) Gross…

To sensitize the private/business sector and incorporate their valuable input and suggestions, a pre-budget conference on Business, Agriculture and IT has been planned on Tuesday (June 7).The conference will provide opportunity to renowned businessmen, agriculturists and IT experts to deliberate, exchange new ideas and present recommendations on IT, Agriculture, Textile,…

Minister for Planning, Development, and Special Initiatives Ahsan Iqbal on Saturday said the size of the federal development budget under the Public Sector Development Programme (PSDP) has been set at Rs 800 billion for the upcoming fiscal year 2022-23. He said the Gross Domestic Product (GDP) growth target for the…