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$500m loan for Pak budgetary support gets IMF’s nod

$500m loan for Pak budgetary support gets IMF’s nod

ISLAMABAD: After two Presidential Ordinances to withdraw corporate income tax exemptions to get Rs70 billion to 140 billion and an addition of a 10 percent power surcharge on consumers, the Executive Board of IMF has…

IMF approves $500 million loan disbursement for Pakistan

IMF approves $500 million loan disbursement for Pakistan

IMF has agreed to release $500 million for Pakistan as part of budget support program amid COVID-19 The International Monetary Fund (IMF) on Wednesday approved the third tranche of budget support worth US$500 million for…

Rs469 billion tax demand created against 81 sugar mills: FBR

Rs469 billion tax demand created against 81 sugar mills: FBR

ISLAMABAD: Federal Board of Revenue (FBR) has created a tax demand of a whopping Rs469 billion against 81 sugar mills The FBR had started its probe against 89 sugar mills after irregularities that were pointed…

Pakistan’s currency makes a strong come back after scheme changes

Pakistan’s currency makes a strong come back after scheme changes

After a severe turmoil in the currency of the country, Pakistan is witnessing a bounce back  in Rupee against the dollar. The recent recovery is a seventh month high of almost Re 1 against the…

Government Hikes Petroleum Prices For 16 Days

Government Hikes Petroleum Prices For 16 Days

The federal government on Wednesday increased fuel prices in the range of 3-8 percent after a summary was forwarded by the Oil and Gas Regulatory Authority (Ogra). “The following will be the prices of the…

Remittances Clock In Above $2bn For Sixth Consecutive Month

Remittances Clock In Above $2bn For Sixth Consecutive Month

Remittances for the month of November clocked in above the $2 billion mark for the sixth consecutive month in a row to $2.34bn, the latest data released by the State Bank of Pakistan (SBP) showed…

Biden’s Intent To Target Dirty Money, Offshore Tax Havens A Welcome Sign

Biden’s Intent To Target Dirty Money, Offshore Tax Havens A Welcome Sign

Prime Minister Imran Khan on Wednesday welcomed the US President-elect Joe Biden’s declared intent of a policy to target dirty money – an initiative matching the former’s vision and key focus of decades-long political struggle.…

Rupee Recovers, Gold Loses Shine

Rupee Recovers, Gold Loses Shine

Rupee staged a massive comeback against the dollar on Tuesday recovering by as much as 95 paisas to close yesterday’s session at Rs160.08. The rupee had earlier crossed the 161-mark for the first time in…

Rupee third-best currency in Asia

Rupee third-best currency in Asia

Pakistani rupee is Asia’s third-best performing currency since October 1, a comparison released by Bloomberg showed. The rupee trails behind the Indonesian Rupiah and South Korean Won. As per the exchange rate figures released by…

Dollar falls below Rs160 mark

Dollar falls below Rs160 mark

The dollar in the interbank market fell to a six-month low as it traded as low as Rs106. The rupee has been strengthening in the last few weeks owing to better inflows in the form…