Business
The Pakistan Bureau of Statistics (PBS) has reported a 0.73% rise in weekly inflation, with prices of everyday essentials continuing to climb. On a year-on-year basis, inflation was recorded at 2.06%, according to the data released on Friday. The weekly report highlighted that prices of 18
Business
Gold prices declined both in domestic and international markets on Friday, offering slight relief to potential buyers amid ongoing economic uncertainty. According to the All Pakistan Saraffa Association, the price of one tola of gold dropped by Rs1,500, bringing it down to Rs355,500. Similarly, the price for 10
Business
The federal government has implemented new tax measures on bank transactions from July 1, affecting both tax filers and non-filers across Pakistan. Under the revised policy, individuals who regularly file their tax returns will now face a 0.3% withholding tax on cash withdrawals exceeding Rs. 50,000 per
Business
Mashreq, one of the leading financial institutions in the MENA region, has announced the opening of its representative office in Türkiye, reinforcing its long-standing commitment to supporting Turkish financial institutions and corporates. Read More: High Policy Rate Hurting Economy: Gohar Ejaz As one of the largest and most active
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The federal cabinet, chaired by Prime Minister Shehbaz Sharif, concluded a high-level meeting on Thursday in Islamabad, during which several key decisions were made on national security, energy reforms, and economic policies. The cabinet approved the Finance Bill for the fiscal year 2025–26, including certain amendments. Officials attending
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The federal government of Pakistan has introduced a set of financial and tax reforms aimed at tightening oversight of large transactions and boosting tax compliance. One of the key steps includes capping annual cash withdrawals from banks at Rs100 million. Officials believe this will help identify unusual financial activity and
Business
Former federal minister Gohar Ejaz said that State Bank of Pakistan is causing annual Rs3 trillion loss to national exchequer. In a post uploaded on X platform on Tuesday, Gohar Ejaz asked the central bank why it is not realizing the annual loss of Rs3 trillion it is causing to
Business
Petroleum prices in Pakistan are expected to rise sharply in the coming days due to increasing global oil prices driven by regional tensions, according to a report by Arif Habib Limited. High-Speed Diesel (HSD) could see a jump of Rs. 27 per litre, while Motor Spirit (petrol) may increase
Business
Gold prices in Pakistan surged on Monday, approaching record highs amid bullish sentiment in the global market. The price of one tola of gold rose sharply to Rs 358,465, while the rate for 10 grams increased by Rs 1,256, closing at Rs 307,325. The rise follows a
Business
The Pakistani Rupee continued to weaken against major foreign currencies in the open market on Monday, reflecting persistent economic pressure and increased demand for stronger international currencies. Analysts point to global uncertainty, reduced forex inflows, and rising import bills as key factors driving the trend. According to updated exchange rates,
Business
The Lahore Electric Supply Company (LESCO) has suspended its installment facility for electricity bills in an effort to meet its revenue recovery targets for June. The company has instructed field staff to disconnect power connections of consumers who fail to pay their current bills or have outstanding dues. According to
Business
The federal government of Pakistan has reduced the proposed sales tax on solar panels from 18% to 10%. The adjustment, announced during the revised federal budget presentation for 2025–26, is seen as a move to encourage the adoption of renewable energy across the country. Deputy Prime Minister Ishaq Dar