Pakistan’s stock market posts record gain

Pakistan’s stock market posts record gain

Pakistan’s stock market is on a roll. The benchmark KSE-100 index has gained for 11 consecutive days -- the longest rally since January 2018 after it closed the Friday’s session up by 48.24 points or

IMF predicts Pakistan’s economy to recover in FY21

IMF predicts Pakistan’s economy to recover in FY21

The International Monetary Fund (IMF) on Friday said that it expects Pakistan’s economy to recover in the next year mainly due to government-led interventions to reopen businesses and industries.  It said “a gradual recovery is

FBR blocked refunds to show higher tax earnings

FBR blocked refunds to show higher tax earnings

The Federal Board of Revenue (FBR) officials on Thursday admitted to blocking refunds worth Rs532 billion in order to show higher-than-actual tax earnings since 2014.  The board was not releasing refunds to concerned individuals and

Gold scales new peak of Rs108,300 per tola

Gold scales new peak of Rs108,300 per tola

Local gold prices in the country hit their peak on Wednesday after prices of one tola and 10-gram yellow were selling as high as Rs108,300 and Rs92,850 respectively.  The increase in local bullion prices comes

SBP extends deadline for debt deferment facility

SBP extends deadline for debt deferment facility

The State Bank of Pakistan (SBP) on Wednesday extended the deadline for the debt deferment facility till September 30 allowing small and medium enterprises to defer payments on their loan principals.  “Considering the fact that

Cement sales pick up as construction sector revives activities

Cement sales pick up as construction sector revives activities

The country’s cement sales during the month of June picked up by  30 per cent to 4.623 million tonnes compared to 3.206m tonnes during the same period last year. The uptick comes after sales declined

Pakistan Post to become a Pakistan Post Bank

Pakistan Post to become a Pakistan Post Bank

The government on Monday said the country’s postal service “Pakistan Post” will now be turned to the Pakistan Post Bank after international financial regulators raised questions over the lack of documentation with respect to the

Security situation in Pakistan has improved a lot: Foreign investors

Security situation in Pakistan has improved a lot: Foreign investors

Foreign investors have shown their satisfaction over the improving security situation in the country as they appreciated the law enforcement agencies for their efforts in reducing violence.  The findings were released by the Overseas Investors

Pakistan’s exports fall 6.8pc YoY in June 2020

Pakistan’s exports fall 6.8pc YoY in June 2020

Pakistan’s exports during the FY2019-20 declined by 6.8 percent to $21.4 billion compared to $22.97bn during the same period last fiscal year, data released by the Ministry of Commerce showed on Friday.  However, detailed numbers

Rupee recovers lost ground to the dollar

Rupee recovers lost ground to the dollar

The local currency on Thursday gained Rs1.20 against the dollar with exchange rate reverting back to Rs167.20 compared to Rs168.20 on Wednesday.  The Exchange Companies Association of Pakistan said the rupee recouped earlier losses on