The highly anticipated stimulus came on top of a series of measures announced over the last weeks that have included interest rate cuts and liquidity for banks. Despite the scale of the package, Finance Minister Lan Fo’an said China could dig deeper. “At present, we are accelerating the use of additional treasury bonds, and ultra-long-term […]
According to official sources, the cost of major petroleum products, including petrol and high-speed diesel (HSD), is expected to rise by around Rs5.50 and Rs13 per litre, respectively, starting October 16. Currently, petrol’s average price in the international market has risen to nearly $79 per barrel, up from about $76, while HSD has climbed from […]
The e-banking attracted more customers due to its efficient and instant payment solutions, and its transactions have grown at a steady pace over the years. According to the State Bank of Pakistan’s (SBP) annual review of the payment system, Pakistan witnessed a notable rise in digital payments. The increase in trending has raised the digital […]
As per details, broiler chicken has reached Rs490 per kg, while its meat is being sold at a whopping Rs800 per kg across Punjab including Rawalpindi. The authorities seem to be failing to control the increasing rate of the chicken. In May, chicken prices fell by Rs39 per kg in the retail market of Punjab’s […]
Brent futures rose $2.82, or 3.7%, to settle at $79.40 a barrel, while U.S. West Texas Intermediate (WTI) crude rose $2.61, or 3.6%, to settle at $75.85. In the U.S., the world’s largest oil producer and consumer, Hurricane Milton barrelled across Florida, where about a quarter of fuel stations sold out of gasoline. The storm […]
The minister revealed that tax evasion in Pakistan stands at nearly Rs7,000 bln annually. He said steps are afoot to broaden the tax net and bring reforms to the tax system of Pakistan. The minister also announced the ‘war against tax evaders’ in Pakistan and admitted all the burden of taxes is being beard by […]
According to the report, the country’s poverty rate is expected to remain high, with 40.5% of the population living below the poverty line, despite the growth. The report mentioned several challenges facing Pakistan’s economy, including a high population growth rate, low tax revenue, and a struggling energy sector. The energy sector’s circular debt has increased […]
“On Thursday – October 10, 2024, Pak-Arab Refinery Limited (PARCO) is initiating a 40-day refinery turnaround to carry out planned essential maintenance,” a spokesperson of the Pak-Arab Refinery Ltd (PARCO) said. The refinery will resume its operations by November 19, 2024, it added. PARCO has obtained prior approval from the Ministry of Energy (Petroleum Division) […]
According to sources, the inactivity of eight airports across Pakistan including, Bannu, Dalbadin, Parachinar, Khuzdar, Rawlakot, Saidu Sharif, Sehwan Sharif, and Sibi, has led to significant financial losses for the Pakistan Airport Authority, with the cost of running into millions of rupees. Despite the suspension of flight operations, staff remains deployed at these airports, and […]
According to Inter-Services Public Relations (ISPR), the meeting discussed matters of mutual interest and steps to strengthen cooperation in various sectors between Pakistan and Saudi Arabia. COAS Asim Munir expressed gratitude for the unwavering support of King Salman and Crown Prince Mohammed bin Salman for Pakistan. The COAS highlighted that the visit of the Saudi […]
