PKR loses to USD for second straight day
ISLAMABAD: The Pakistani rupee (PKR) registered a second consecutive day of losses against the US dollar (USD) in the interbank market today, closing at Rs277.93 after trading opened at Rs278. PKR continued to come under pressure against the dollar during the today session, but showed mixed performance against other major
Tax burden may rise on salaried class, if revenue falls short: Finance Minister
Federal Finance Minister Mohammad Aurangzeb has warned that if tax revenue does not increase in the current fiscal year, the burden on the salaried class and industries may rise. He highlighted signs of economic improvement, such as stable food prices and interest rates, though food items like pulses and chicken
PSX climbs by almost 1,900 points in major one-day gain
The PSX 100 Index rose by 1893.08 points on Friday and finished at 90859.85 points. This is also an important growth as it marks the fifth largest single-day ‘Up’ movement in the PSX’s history. In the current year, the KSE-100 index has increased by 45.5 per cent inscribing it as
Govt raises Rs820 billion via T-bills
In a recent auction of Treasury Bills (T-Bills), the cut-off yields decreased by up to 140 basis points (bps), indicating a shift in Pakistan’s borrowing costs. According to data from the State Bank of Pakistan (SBP), the government raised Rs820 billion, surpassing the initial target of Rs400 billion against the
PKR depreciates marginally against USD
The Pakistani rupee (PKR) marginally decreased against the US dollar (USD) for the second consecutive day, closing at Rs277.74 in the interbank market. Opening trade at 278, the PKR remained stable throughout the day but ended lower against the US dollar. Despite the decline against the USD, the PKR shows
PSX reaches new high, crossing 90,000 mark
Pakistan Stock Exchange (PSX) retained its bullish trend, as shares surged more than 1,100 points to a new high in intraday trade on Friday. The benchmark KSE-100 index climbed 1141.43, or 1.25 per cent to stand at 90,087.41 points from the previous close of 88,945.98 points at 9:55 am. Finally,
PKR closes at 277.84 against USD, posts minor losses
The Pakistani rupee (PKR) experienced a decline against the US Dollar (USD) today, starting the day at an interbank rate of Rs278 but closing lower at Rs277.84. This marked a depreciation of 0.04 per cent, as the currency lost 11 paisas by the end of the trading session. The rupee
Here’s why falling inflation rates don’t lead to a drop in prices
Economic terms like “disinflation” and “deflation” often confuse the public, and can oversimplify statistics to present an exaggerated success. Following the announcement of a 44-month low inflation rate in September, some in the government rejoiced, declaring victory over soaring prices. However, the reality is more nuanced. The monthly inflation rate
IMF urges Pakistan to implement urgent reforms amid regional lag
The International Monetary Fund (IMF) has stressed the urgency of comprehensive reforms in Pakistan, citing the country’s failure to provide a satisfactory standard of living compared to its regional counterparts. The IMF report underscores significant shortcomings in Pakistan’s economic performance, particularly in areas like income per capita, competitiveness, and export
Govt rules out tax amnesty for smuggled vehicles
The Pakistani government has reassured the International Monetary Fund (IMF) that no tax amnesty schemes will be introduced concerning smuggled vehicles or asset declarations. There will be no tax exemptions, zero-rating, or tax credits granted, and no preferential tax treatment will be extended to any sector under this declaration. Focus
