According to sources, Pakistan and the International Monetary Fund (IMF) have made significant progress in virtual negotiations. Sources revealed that the IMF expressed satisfaction over the tough economic decisions taken in the budget, acknowledging the positive role of political parties in the budget. Sources further added that the monetary fund also appreciated the limitation of […]
Pakistani Rupee on Friday gained 09 paise against the US Dollar in the interbank trading and closed at Rs 278.51 against the previous day’s closing at Rs 278.60. According to the Forex Association of Pakistan (FAP), the buying and selling rates of the dollar in the open market, however, were Rs 277.8 and Rs 280.7 […]
China is pushing for Visa and Mastercard to lower their bank card transaction fees in the country, as part of an effort to facilitate payments for foreign visitors, Bloomberg News reported, citing a person familiar with the matter. The Payment & Clearing Association of China is negotiating with global card issuers including Visa and Mastercard […]
The regulatory authority has sent its proposal of fixed charges of Rs200-1,000 a month in the electricity bills to the government, which will give the final nod to impose the fixed charges. According to the proposal, the domestic consumers using 301-400 units a month will pay from July 1, 2024, the fixed charges of Rs200 […]
Finance Minister Muhammad Aurangzeb chaired the meeting. According to sources, a notification for the dissolution of these boards will be issued after the Cabinet ratifies the decision. The committee has approved the formation of new boards for nine out of the eleven state-owned power companies. The Cabinet Committee’s approval came on the recommendation of the […]
According to the official statement by the World Bank, the first project, worth $400 million, will focus on reducing the impact of climate change in Pakistan, particularly in the agricultural sector. The funds will be used to improve crop yields and protect the sector from the effects of climate change. The second project, worth $135 […]
The Bank of England kept its main interest rate unchanged at a 16-year high of 5.25% on Thursday ahead of a July 4 election, but some policymakers said their decision not to cut rates was now finely balanced. The BoE’s Monetary Policy Committee voted 7-2 to keep rates on hold, in line with economists’ expectations […]
Over Rs800 billion budget will be presented by Provincial Finance Minister Mir Shoaib. Sources privy to the development said over Rs100 billion will be allocated for education, while Rs61 billion will be kept for health. The salaries of the employees will be raised as per the formula of the federal government govt, the sources said. […]
The benchmark KSE-100 reached an all-time high of 78,115 from the previous close of 77,213. The KSE-100 index gained 1409 points around 10.55 am. Analysts attributed the upward trajectory to the government’s willingness to unlock a deal with the International Monetary Fund (IMF) after the budget. Analysts expect the budget for the fiscal year to […]
Lasbela Chamber of Commerce and Industry President Ismail Suttar dubbed the document as a confused budget, claiming that the masters did not want economic stability in the country. Imagine a country that fails to support its exporters, what else can we expect from a budget that converts the 1% presumptive tax regime into normal taxation, […]
