According to details, a cut of Rs 10.4 billion has been proposed, amounting to a 43.48% reduction compared to the previous fiscal year. For the budget 2025-26, the development funds for the IT ministry are proposed at Rs 13.52 billion. Out of this, Rs3.64 billion will be provided through domestic resources, while Rs9.88 billion is […]
Federal Minister for Railways Muhammad Hanif Abbasi announced a 20 percent discount on fares during the three days of Eid al-Adha. Pakistan Railways also ran five special trains on account of Eid. According to the details, the first special train departed from Karachi Cantonment Railway Station for Lahore at 1:00 pm on June 2. The […]
As per Forex.pk, 10 grams of 24-karat gold in Saudi Arabia is currently valued at SAR 4,068, with an ounce of gold costing 12,653 Saudi Riyal. The uptick in gold rates reflects ongoing trends in the global commodities market, with the latest pricing update reported at 10:00 a.m. local time. Gold has long held a […]
Saudi Arabia’s official currency is denoted as SAR or SR. A single Riyal is divided into 100 halalas. The relationship between the two countries is built on a strong foundation of mutual support and cooperation. Saudi Arabia has provided significant financial aid to Pakistan, including a recent extension of a $3 billion deposit for an […]
According to details, a significant decline in the policy rate is expected to reduce expenditure on loans and interest payments by approximately Rs1,300 billion in budget 2025-26. Sources suggest that the size of the upcoming federal budget could be around Rs17.8 trillion, which is Rs 900 billion less than the current fiscal year’s budget of […]
Residents of Karachi are enduring up to 12 hours of load shedding daily in the sweltering summer heat, despite paying some of the highest electricity rates in the country. The combination of extreme temperatures and unannounced power outages has made life increasingly difficult for Karachiites. Speaking on the program Off the Record, Moonis Alvi admitted […]
As per details, Prime Minister Shehbaz Sharif is set to preside the National Economic Council meeting, which will focus on approving the national development budget, Public Sector Development Programme (PSDP), and macroeconomic targets for the upcoming fiscal year 2025-26, with representatives from the federal and provincial governments, including all four chief ministers, in attendance. The […]
According to data released by All Pakistan Cement Manufacturers Association, domestic cement sales declined by 1.94 per cent during the first eleven months of the current fiscal year, according to data released by the All Pakistan Cement Manufacturers Association (APCMA). Local consumption fell from 35.1 million tonnes between July 2023 and May 2024 to 34.4 […]
At a WTO ministerial meeting in France, Commerce Minister Wang Wentao reiterated China’s stance on upholding a multilateral trading system and said WTO has the country’s backing for a more important role in global economic governance. China’s decision in April to suspend exports of a wide range of critical minerals and magnets has upended the […]
After 3.3-percent growth last year, the world economy is now expected to expand by a “modest” 2.9 percent in 2025 and 2026, the Paris-based Organisation for Economic Co-operation and Development said. In its previous report in March, the OECD had forecast growth of 3.1 percent for 2025 and 3.0 percent for 2026. Since then, Trump […]
