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Business

SBP announces revised banking hours for Ramazan

11 Mar 2024

SBP announces revised banking hours for Ramazan

The working hours will start from 09:00 am and end at 03:30 pm from Monday to Thursday with a prayer break from 2:00 pm to 2:30 pm.

25% sales tax imposed on locally-made cars worth over Rs4 million

9 Mar 2024

25% sales tax imposed on locally-made cars worth over Rs4 million

The tax would be imposed on vehicles of 1400cc or above

Aurangzeb likely to withdraw Dutch citizenship, Rs3 crore monthly salary to become Finance czar

9 Mar 2024

Aurangzeb likely to withdraw Dutch citizenship, Rs3 crore monthly salary to become Finance czar

Muhammad Aurangzeb is currently serving as the President and CEO of HBL

“We cannot comment on domestic political developments,” IMF dismisses Imran Khan's letter

8 Mar 2024

“We cannot comment on domestic political developments,” IMF dismisses Imran Khan's letter

In its letter to the Fund, PTI raised concerns about alleged "widespread intervention and fraud in the counting of votes and compilation of results"

Moody's upgrades outlook of Pakistan's banking sector from 'negative' to 'stable'

7 Mar 2024

Moody's upgrades outlook of Pakistan's banking sector from 'negative' to 'stable'

Moody's says banks’ stable deposit funding will continue to support financial stability.

Ramazan 2024: Minimum Nisab set at Rs135,179 for Zakat

7 Mar 2024

Ramazan 2024: Minimum Nisab set at Rs135,179 for Zakat

The Nisab was fixed at Rs103,159 in the previous year

World's richest man Jeff Bezos earns over $7.9 million per hour

7 Mar 2024

World's richest man Jeff Bezos earns over $7.9 million per hour

Bezos earned $23 billion in the two months of the ongoing year 2024

Meta faces $35 million loss in just two hours of Facebook, Instagram outage

6 Mar 2024

Meta faces $35 million loss in just two hours of Facebook, Instagram outage

Facebook, Instagram, and Messenger were hit with a global outage on Tuesday night

Dar out of race as Muhammad Aurangzeb to be appointed finance minister

5 Mar 2024

Dar out of race as Muhammad Aurangzeb to be appointed finance minister

Aurangzeb is currently serving as the president of HBL

Shehbaz-led govt mulls raising gas, electricity prices to secure new IMF deal

5 Mar 2024

Shehbaz-led govt mulls raising gas, electricity prices to secure new IMF deal

The repayment of current loans would be a challenge for the new government

IMF wants Pakistan to impose 18% GST on several items

4 Mar 2024

IMF wants Pakistan to impose 18% GST on several items

The US-based lender has not estimated the burden of indirect taxation to people.

IMF wants increase in tax on salaried, non-salaried class

2 Mar 2024

IMF wants increase in tax on salaried, non-salaried class

Pakistan slash the slabs of taxation from seven to four and eliminate the tax exemption from private employers to pensioners

Petrol price jacked up by Rs4.13/litre in Pakistan

29 Feb 2024

Petrol price jacked up by Rs4.13/litre in Pakistan

The price of diesel remains unchanged.

Petrol prices likely to increase by up to Rs4 per litre

29 Feb 2024

Petrol prices likely to increase by up to Rs4 per litre

The expected hike is a result of an increase in the commodity in the global market for over 15 days.

China rolls over Pakistan's $2 bln loan

28 Feb 2024

China rolls over Pakistan's $2 bln loan

Caretaker Prime Minister Anwaar-ul-Haq Kakar played a crucial role in securing this agreement, formally appealing to Chinese Premier Li Qiang to extend the loan.

Imran Khan's PTI dispatches letter to IMF seeking Feb 8 polls audit

28 Feb 2024

Imran Khan's PTI dispatches letter to IMF seeking Feb 8 polls audit

The publication quoted two top brass within the PTI as the source of the news.

Govt puts another burden on inflation-hit masses as electricity price hiked by Rs7.5 per unit

27 Feb 2024

Govt puts another burden on inflation-hit masses as electricity price hiked by Rs7.5 per unit

The regulator allowed the addition of Rs7.5 to the electricity bill of March.

Bank loans for vehicle purchases record 25.6% annual decline

26 Feb 2024

Bank loans for vehicle purchases record 25.6% annual decline

According to the data provided by the central bank, the total loans disbursed by banks for vehicle purchases amounted to Rs 251 billion in December 2023.

Cabinet committee approves completion of Pak-Iran gas pipeline project

23 Feb 2024

Cabinet committee approves completion of Pak-Iran gas pipeline project

The project's realization holds the promise of advancing Pakistan's energy security, a crucial imperative for sustained economic growth and industrial development.

Imran Khan says will dispatch letter to IMF seeking polls audit today

23 Feb 2024

Imran Khan says will dispatch letter to IMF seeking polls audit today

“Who will return the debts Pakistan gets in such circumstances? asked Imran

Another hike of Rs7.13 in power tariff expected for inflation-hit masses

23 Feb 2024

Another hike of Rs7.13 in power tariff expected for inflation-hit masses

The expected hike is attributed to the fuel cost adjustment (FCA) for the month of January

23 Feb 2024

"Ready to work with new Pakistani govt:" IMF pays no attention to Imran's demand

Pakis­tan plans to seek a new loan of at least $6 billion from the IMF

SBP-held foreign exchange reserves decrease $44mn

22 Feb 2024

SBP-held foreign exchange reserves decrease $44mn

The central bank attributed the decrease in the reserves to debt repayments.

Pakistan to face complications in securing IMF deal due to election results: Fitch

19 Feb 2024

Pakistan to face complications in securing IMF deal due to election results: Fitch

Next financing deals from multilateral and bilateral partners will be "one of the most urgent issues on the agenda for the new government".

New oil, gas reserves discovered in Sindh’s Khairpur

19 Feb 2024

New oil, gas reserves discovered in Sindh’s Khairpur

A well was drilled at Kharo-1 in the Khewari exploration license area

Federal cabinet okays gas tariff hike by 67pc

15 Feb 2024

Federal cabinet okays gas tariff hike by 67pc

The pronounced increase in rates will affect both protected and non-protected consumers, resulting in a respective increment of Rs100 and Rs300 per MMBTU (million British thermal units).

Petrol, diesel prices likely to rise by up to Rs11 from Feb 16

15 Feb 2024

Petrol, diesel prices likely to rise by up to Rs11 from Feb 16

The expected hike is a result of an increase in the commodity in the global market for over 15 days.

Electricity price expected to increase by Rs4.40 per unit

14 Feb 2024

Electricity price expected to increase by Rs4.40 per unit

The increase will impose a burden of additional Rs82 billion on the consumers

OGRA hikes gas tariff by over 35pc

6 Feb 2024

OGRA hikes gas tariff by over 35pc

The final approval will be sought from the caretaker federal cabinet.

Cabinet okays appointment of judge to act against gas theft

5 Feb 2024

Cabinet okays appointment of judge to act against gas theft

The caretaker govt is carrying out a crackdown on power and gas theft across the country.

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