By Staff Reporter
KARACHI: At least two people were killed, and several dozens were injured on Sunday after rival political parties contesting first phase of local government elections in Sindh fired guns and scuffled, police said.
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Ex-PM Khan calls for fresh protest in Islamabad on July 2
By Staff Reporter
ISLAMABAD: Ouster prime minister Imran Khan called on his supporters to stage a protest in Parade Ground, a week from now on July 2, of the capital to force the government to hold new elections.
SBP, banks challenge Riba verdict in Supreme Court
By Staff Reporter
ISLAMABAD: The central bank and at least four commercial banks on Saturday challenged a ruling of the Federal Shariah Court (FSC) for the abolishment of interest in the Supreme Court of Pakistan, seeking apex court’s guidance on Riba free economy in the country.
SCREENSHOT: Finance Minister Miftah Ismail's official Twitter profile.
The importance of being Miftah Ismail
By Staff Reporter
ISLAMABAD: We suffer budgets annually and mostly survive them but seldom do we get a glimpse of the thought process going into the making of one in real time.
Pakistan almost seals IMF deal with super tax
By Staff Reporter
ISLAMABAD: Mustering the much-needed courage, the government on Friday levied a super tax on big-earners to raise extra Rs466 billion, enabling itself to chase a higher tax target of Rs7.470 trillion to reclaim the IMF loan ditched by the last government.
China’s BaoSteel likely to fire up long-cold PSM
By Staff Reporter
ISLAMABAD: China’s BaoSteel is likely to fire up the long-cold blast furnaces of Pakistan Steel Mills Corporation (PSMC) as the Chinese steelmaker, which has recently completed a successful due diligence tour, is eyeing a deal, the country’s privatisation managers said on Friday.
Inflows Unlocked: China’s $2.3bn lands in SBP coffers
By staff reporter
ISLAMABAD: State Bank of Pakistan (SBP) on Friday received a $2.3 billion Chinese loan, which analysts termed as godsend support, as the country’s foreign reserves were barely enough for 45 days of imports a day ago.
The Plot: PSX plummeted after the announcement of super tax. Screenshot from PSX data portal.
Super tax: A bridge too far?
By Staff Reporter
ISLAMABAD: The government scrambled to control damage Friday after the announcement of a 20 percent super tax sowed panic among the markets, causing the PSX to lose 2,055 points or 4.81 value in a mere 20 minutes before trading was closed to stem further damage.
Default Level: SBP forex reserves hit 32-month low of $8.2bn
By Staff Reporter
KARACHI: State Bank of Pakistan’s (SBP) dollar stockpile hit a 32-month low of $8.2 billion from $8.99 billion last week, latest numbers revealed on Thursday, which leaves the country with an import cover for just 1.21 months, but a top-up of likely $2.3 billion from Chinese banks could lift them to a less critical level.
ISLAMABAD: Prime Minister Mian Muhammad Shahbaz Sharif presides the meeting of Federal cabinet at PM Secretariat in Federal Capital. -File photo
Wealthy Targets: PM announces ‘Robin Hood’ tax
By Staff Reporter
ISLAMABAD: The government has finally decided to go after the wealthy to make them cough up higher taxes on top of rationalising the tax regime to ensure it’s equitable, Prime Minister Shehbaz Sharif said on Thursday.