Business
The federal government has formally ceased the operations of the Utility Stores Corporation (USC) of Pakistan (Pvt) Limited, ending decades of subsidised grocery services to low-income households across the country. According to an internal notification issued by the General Manager of Stores Operations & Services (SO&S), all
Business
The federal government has officially abolished the five per cent tax on goods and services ordered digitally from abroad, in a move aimed at easing the cost burden on consumers and benefiting global tech giants such as Google and Chinese e-commerce platform Temu. The decision was approved by the
Business
In a decisive move to control rising sugar prices and address an alleged artificial shortage, the federal government has taken control of sugar stocks across Pakistan. According to the Ministry of Food, around 1.9 million metric tons of sugar stored in private mills have been seized and placed under
Business
Mashreq Bank has announced its financial results for the first half of 2025, highlighting a strong operating performance underpinned by solid fundamentals, continued strategic investments, and prudent risk management. Mashreq’s operating income reached AED 6.2 billion in H1 2025, reaffirming the Bank’s position as one of the
Business
On July 31, 2025, the Pakistani Rupee (PKR) appreciated slightly against the US Dollar (USD), closing at PKR 282.87 in the interbank market. This marks a gain of 8 paisa or 0.03% compared to the previous day. Throughout the trading session, the PKR remained mostly stable, with intraday
Business
Gold prices in Pakistan dropped sharply on Thursday, reflecting a parallel decline in the international market. According to the APGJSA, the price of one tola of gold fell by Rs2,000, bringing it down to Rs353,000. Similarly, 10-gram gold lost Rs1,714 in value, ending the day at
Business
A video of a Karachi resident challenging a Rs600,000 electricity bill from K-Electric has gone viral, sparking intense discussion on consumer rights and billing transparency. The woman claimed the bill far exceeded her actual electricity usage and insisted that a fair amount would be around Rs15,000. After
Business
Federal Board of Revenue (FBR) has taken action against 13 fraudulent companies accused of laundering Rs120 billion by misusing solar panel import claims. The firms have been collectively fined Rs111 billion following a customs audit. The Directorate of Customs Post Clearance Audit led the investigation, which revealed that these companies
Business
The United States and Pakistan have signed a wide-ranging agreement aimed at strengthening trade and energy cooperation, as both countries seek to deepen diplomatic and economic ties. US President Donald Trump announced via social media that Washington would assist in developing Pakistan’s substantial oil reserves. He added that
Business
The Economic Policy & Business Development (EPBD) think tank termed the decision of the State Bank of Pakistan (SBP) to maintain policy rate at 11 percent as very conservative. Gohar Ejaz Chairman EPBD said that with policy rates at 11 percent - nearly double the regional average, how can Pakistan realistically
Business
The Pakistani government is advancing plans to incorporate cryptocurrency into the financial sector, signalling a potential shift in how digital currencies are viewed and regulated in the country. Sources told Dawn that a top-level meeting held on Tuesday focused entirely on virtual assets. Senior officials, along with representatives from
Business
Gold became cheaper in Pakistan on Tuesday as local rates reflected a drop in the global bullion market. According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), gold prices per tola declined by Rs1,600, reaching Rs354,700. The price for 10 grams also decreased to Rs304,098,