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Business

IMF says staff-level agreement reached with Pakistan for release of $1.1bn loan tranche

20 Mar 2024

IMF says staff-level agreement reached with Pakistan for release of $1.1bn loan tranche

The review is expected to be considered by the IMF's board in late April

Army-backed SIFC signs agreement with Saudi Arabia to cultivate 5,000 acres of cattle fodder

19 Mar 2024

Army-backed SIFC signs agreement with Saudi Arabia to cultivate 5,000 acres of cattle fodder

Fodder is a major source of protein for livestock

SBP keeps policy rate unchanged at 22pc

18 Mar 2024

SBP keeps policy rate unchanged at 22pc

This is the central bank's sixth successive decision to keep the policy rate unchanged.

Pakistan’s inflation surges to 32.89% in first week of Ramadan

16 Mar 2024

Pakistan’s inflation surges to 32.89% in first week of Ramadan

The prices of 18 items increased during the fasting month

Govt maintains petrol price for next 15 days in Pakistan

16 Mar 2024

Govt maintains petrol price for next 15 days in Pakistan

The price of petrol will remain unchanged, i.e., Rs 279.75 per litre.

Onion prices shoot to Rs340/kg in Islamabad, Pindi

15 Mar 2024

Onion prices shoot to Rs340/kg in Islamabad, Pindi

The escalating prices raise concerns about the affordability and accessibility of onions, a staple in many households.

Fitra fixed at Rs300 per head for Ramadan 2024

15 Mar 2024

Fitra fixed at Rs300 per head for Ramadan 2024

The rate is based on the prices of staple foods such as flour, oats, dates, or raisins

Only 35% Pakistanis expect better financial conditions in future: survey

14 Mar 2024

Only 35% Pakistanis expect better financial conditions in future: survey

Last year, a substantial 60% of respondents believed that Pakistan’s economy is fragile.

PM Shehbaz decides not to increase petrol prices in Ramadan

14 Mar 2024

PM Shehbaz decides not to increase petrol prices in Ramadan

The current price of petrol is Rs279.75 per litre

Video showing misprinted Rs1000 currency notes in Karachi goes viral

12 Mar 2024

Video showing misprinted Rs1000 currency notes in Karachi goes viral

The clip cited a National Bank of Pakistan (NBP) branch manager saying: “The cash that arrived this morning have bundles of misprinted Rs1000 notes.

Suzuki Swift GLX CVT price raised by Rs304,000 to Rs5.4 million

12 Mar 2024

Suzuki Swift GLX CVT price raised by Rs304,000 to Rs5.4 million

Suzuki Swift was priced at Rs5.125 million

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.

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