By Staff Reporter KARACHI: The State Bank of Pakistan (SBP) unexpectedly raised its benchmark rate by 100 basis points to a record high of 22
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SC bench on military trials dissolves for 2nd time over judge’s kinship issue
By Staff Reporter
ISLAMABAD: A larger bench of the Supreme Court, hearing petitions challenging the trials of civilians in military courts, dissolved for a second time on Monday after the government objected to the inclusion of one of the judges, who is related to a petitioner in the case
Pakistan stocks surge on hopes of IMF deal resumption
By Staff Reporter
KARACHI: Pakistan’s benchmark stock index soared to its highest level in more than a month as investors bet that the government’s budgetary measures would revive the stalled International Monetary Fund (IMF) program.
Pakistan cuts lawmakers’ ban period, ex-PM Sharif may benefit
By Staff Reporter
ISLAMABAD: Pakistan’s National Assembly on Sunday passed a bill that would limit the disqualification of lawmakers for a period of up to five years.
Pakistan clears budget hurdle for IMF loan
By Staff Reporter
ISLAMABAD: Pakistan’s lower house of parliament approved a revised budget for the next fiscal year on Sunday, with additional fiscal tightening to meet the International Monetary Fund’s (IMF) conditions for a $1.2 billion loan tranche.
Government raises advance income tax on vehicles above 2000cc
By Staff Reporter
ISLAMABAD: The government has raised the advance income tax on vehicles above 2000cc and imposed a fixed tax on imported and locally manufactured vehicles from 2001cc to above 3000cc under the amended Finance Bill 2023, according to a document issued by the Federal Board of Revenue (FBR).
Pakistan revises budget to secure IMF bailout
By Staff Reporter
ISLAMABAD: Pakistan has revised its budget for the fiscal year starting on July 1 to include the latest fiscal tightening measures dictated by the International Monetary Fund (IMF) in a final effort to clinch a stalled rescue package, Finance Minister Ishaq Dar said on Saturday.
Pakistan army holds 102 suspects for attacking military sites
By Staff Reporter
ISLAMABAD: Pakistan’s attorney general told the Supreme Court on Friday that the army had detained 102 people for attacking military installations during protests over the arrest of former Prime Minister Imran Khan last month.
ECC allows Sindh sugar mills to export 32,000 tons
By Staff Reporter
ISLAMABAD: The cabinet’s Economic Coordination Committee (ECC) approved on Friday the export of 32,000 metric tons of sugar by mills in Sindh province within 60 days and a supplementary grant of Rs250 billion to increase the borrowing limit of the provinces for the current fiscal year.
Pakistan’s forex reserves fall to $3.54bn as debt payments loom
By Staff Reporter
ISLAMABAD: Pakistan’s central bank saw its foreign exchange reserves drop by $482 million to $3.54 billion in the week to June 16, latest data showed on Thursday, as the country faces pressure to revive a stalled IMF programme and repay its debts.