Gold price soars by Rs1700 per tola to Rs82,000

Gold price soars by Rs1700 per tola to Rs82,000

The price of 24 karat gold jumped by Rs1700 on Thursday and was traded at Rs82,000 per tola as compared to the previous day’s closing of Rs80,300. According to Karachi Sarafa Association, the price of 10 gram gold also witnessed increase of Rs1458 and was traded at Rs70,302 against Rs68,844...

Details
Saudi Arabia to extend $3.2 billion deferred payment facility with Pakistan from July

Saudi Arabia to extend $3.2 billion deferred payment facility with Pakistan from July

Saudi Arabia will extend  $3.2 billion deferred payment facility for petroleum with Pakistan from July 1, as promised in October last year. “The Saudi facility will get activated in July and provide about $3 billion worth of oil supplies on deferred payments,” finance ministry’s spokesman Dr Khaqan Najeeb told sources....

Details
IMF briefed on tax amnesty, privatisation, power, gas tariffs

IMF briefed on tax amnesty, privatisation, power, gas tariffs

The talks with International Monetary Fund (IMF) team focused on briefing on tax amnesty scheme by the Federal Board of Revenue, privatisation programme, power and gas tariffs, and the government’s policies. Pakistan will have to submit its fresh plan on privatisation front in order to strike a deal with the...

Details
Pakistan’s trade deficit shrinks by 14 per cent as imports decline

Pakistan’s trade deficit shrinks by 14 per cent as imports decline

Owing to practical steps taken by the incumbent government, the trade deficit has dropped by 14 per cent in the first 9 months of PTI’s government rule, ARY News reported on Tuesday. According to the Statistical department, the trade deficit remained $33.45 billion in July-March against $47billion in the same...

Details
Rupee’s value is in tune with the market: Asad Umar

Rupee’s value is in tune with the market: Asad Umar

According to media reports, Finance Minister Asad Umar said that there is no reason for any further devaluation in the rupee. Addressing a ceremony at Pakistan Stock Exchange in Karachi by video link from Islamabad, the Finance Minister said, “Rupee’s value is in tune with the market and the State...

Details
Pakistan GDP growth to decelerate further to 3.9% this year: ADB

Pakistan GDP growth to decelerate further to 3.9% this year: ADB

The Asian Development Bank has forecast Pakistan’s economic growth to decelerate to 3.9% in fiscal year 2019 following a pronounced widening of the country’s balance of payments deficit in 2018. In its flagship economic publication titled “Asian Development Outlook (ADO) 2019,” the bank said Pakistan’s GDP growth is forecast to...

Details
FBR extends deadline for filing tax returns to April 30

FBR extends deadline for filing tax returns to April 30

ISLAMABAD: The Federal Board of Revenue (FBR) Sunday further extended the date of filing of income tax returns / wealth statements for the tax year 2018 till April 30. According to FBR statement, the date of filing of returns for companies, individuals and association of persons has also been extended...

Details
Asad Umar announces to cut diesel, petrol prices by Rs2 per litre

Asad Umar announces to cut diesel, petrol prices by Rs2 per litre

Government has  decided to cut prices of  diesel and petrol  by Rs2  per litre, said Finance Minister Asad Umar on Friday. Addressing a press conference , he said the government wants to  pass on less burden to the people and  as much relief as possible. He said the prices of...

Details
US dollar hits all-time high of Rs142 in interbank market

US dollar hits all-time high of Rs142 in interbank market

The US dollar hit an all-time high of Rs142 in the interbank market on Friday. The rise in dollar comes owing to the widening current account deficit. On November 23, the US dollar rose to a record high against the rupee as it reached Rs135.30 in the open market. The...

Details
Remove vulnerabilities to cybersecurity, SBP directs banks

Remove vulnerabilities to cybersecurity, SBP directs banks

The State Bank of Pakistan (SBP) has directed all the banks to immediately conduct self and a third-party audit of their cyber security and remove vulnerabilities. “Failure to comply with the…instructions will lead to penal action by SBP including but not limited to the suspension of non-compliant digital payment products...

Details