Affairs

Discussions between Pakistan’s economic team and the International Monetary Fund (IMF) Mission this week will most likely end without a staff-level agreement, sources in the Finance Ministry told ProPakistani. Sources said policy-level talks have so far failed to yield any conclusive result. The lender’s mission led by Nathan Porter will leave Pakistan after three days….

The Federal Board of Revenue’s (FBR) Intelligence and Investigation Inland Revenue has detected a big Cement company’s supplier involved in fake and flying invoices worth millions of rupees. According to a statement issued by FBR the Directorate of Intelligence and Investigation, Inland Revenue has lodged an FIR before the Special Judge (Customs and Taxation), Karachi…

The Oil and Gas Regulatory Authority (OGRA) has announced the estimated revenue requirements and new gas prices for both Sui companies during fiscal year 2024-25. Official documents seen by ProPakistani reveal that OGRA has proposed an average gas price of Rs. 1,635.90 per MMBTU for Sui Northern Gas Pipelines Limited (SNGPL), reflecting a 10 percent…

The Competition Commission of Pakistan (CCP) has granted a time-bound exemption on the relevant clauses of product supply agreement between Aramco Trading (ATC) Fujairah FZE Ltd and Gas and Oil Pakistan Ltd (GO Petroleum) for importing and selling Gasoline and diesel products to Pakistan. ATC Fujairah, registered in the United Arab Emirates, is one of…

While the November release of quarterly national accounts represents an important step forward for economic statistics in Pakistan, projects are underway for future improvements, including further refinements of seasonally adjusted estimates for eventual public release and the development of quarterly expenditure-based GDP, says the World Bank. The Bank officials in a blog stated that smart,…

Illegal and smuggled cigarettes cause an annual loss of over Rs 310 billion to Pakistan’s economy, a report by the National University of Science and Technology (NUST) said on Tuesday. At the launch event of the report, Federal Minister of Defence Khawaja Asif boldly claimed that Pakistan could potentially collect Rs. 36,000 billion in overall…

The country imported mobile phones worth $1.462 billion during the first ten months (July-April) of the current fiscal year 2023-24, registering a growth of 209.07 percent when compared to $473.287 million during the same period of last fiscal year. In rupee terms, the country imported mobile phones of Rs. 414.276 billion during the first ten…

Foreign exchange inflows through the Roshan Digital Accounts (RDAs) stood at $171 million in April 2024, compared to $182 million in the previous month. Overall RDA funds received to date increased to $7.831 billion by the end of April 2024, according to the State Bank of Pakistan (SBP). Till the end of April, $1.587 billion…

Pakistan International Airlines Corporation Limited (PSX: PIAA) will officially close its books at the Pakistan Stock Exchange (PSX) on May 25, 2024. This date has been set to determine the Class ‘A’ and Class ‘B’ shareholders of the company, a stock filing dated May 16, 2024, revealed. The Securities and Exchange Commission of Pakistan (SECP)…

The agricultural sector, already burdened by an ongoing wheat crisis, is facing additional challenges as juice and nectar producers reduce their fruit purchases. This downturn is linked to the recent implementation of higher taxes on the industry, reports surfaced on Tuesday. The report highlights that juice companies have scaled back their operations in fruit markets…