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.
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.
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.
By Staff Reporter
KARACHI: The Pakistani rupee continued its rally against the US dollar overnight on Thursday after staging an initial recovery Wednesday on the back of multiple positive reports concerning the government’s macroeconomic options.
By Staff Reporter
ISLAMABAD: The Economic Coordination Committee (ECC) of the cabinet on Wednesday approved quarterly adjustments of 57 paise per unit in July, August and September bills of K=Electric consumers to adjust Rs90 billion outstanding cost of electricity consumed by the city residents five years back.
By Staff Reporter
ISLAMABAD: The government plans to raise much needed millions of dollar in debt via an Islamic sukuk bond later this calander year amid growing concerns about the country’s dwindling foreign currency reserves.
By Staff Reporter
ISLAMABAD: Country’s economic managers on Monday hashed out the ‘tough conditions’ tied to the resumption of the IMF loan programme with Prime Minister Shehbaz Sharif and got a final go-ahead.
By Staff Reporter
KARACHI: The central bank has made importers’ access to dollars comparatively difficult by directing banks to come to it first before making a transaction of $100,000 for any import payment in a latest bid to conserve hard US currency, media reported quoting sources on Monday.
By Staff Reporter
ISLAMABAD: The federal budget 2022-23 comes at a time when the country’s foreign exchange reserves are depleting, credit ratings are down, and the pressure on the out-of-options government to get a new lease on the IMF loan is increasing exponentially, economists said on Saturday.
By Staff Reporter
ISLAMABAD: Being at the tail end of River Indus, Sindh has been grossly impacted by water shortage, a minister said on Saturday, amid adverse impacts of climate change.
