The Pakistan Stock Exchange (PSX) rose to a new all-time high on Wednesday, surpassing its previous high of 71,500 seen on Tuesday. After opening trade at 71,359 points, the benchmark KSE-100 index went up by 1.48 percent or 1,055 points at 10:35 AM to a new high of 72,414. It
The Directorate of Customs Intelligence, Karachi has detected a fraudulent import of artificial leather worth Rs. 220 million. According to information obtained by ProPakistani, the Directorate of Customs Intelligence, Karachi through Director General Faiz Ahmad Chadhar received credible information that the Clearing Agency M/s Ayyaz Enterprises was involved in imports
The Federal Board of Revenue (FBR) will disallow input tax adjustment of 1,680 Tier-1 retailers in case they fail to integrate with the FBR’s computerized system for real-time reporting of sales till May 31, 2024. A Sales Tax General Order No. 01 of 2024 issued on Wednesday revealed that the
Pakistan has formally requested $3.5 billion funds from Saudi Arabia for the Diamer-Bhasha Dam. Saudis will respond to this request after consulting with their financial advisor for the dam project. Pakistan’s financial advisor will engage with an advisor from Riyadh to ensure coordination on the project’s financial aspects. The formal
The country borrowed just $6.899 billion from multiple financing sources during the first nine months (July-March) of the current fiscal year 2023-24 compared to $7.764 billion borrowed during the same period of 2022-23, representing 39 percent of the annual budget target Borrowing options were evidently scarce due to unfavorable credit
The Federal Investigation Agency’s (FIA) sources have revealed that the agency has taken action against a group involving private property dealers and officials from the Capital Development Authority (CDA). The action was taken following a detailed investigation into a complaint lodged by a private citizen. During the investigation, FIA officials
Standard Chartered Bank (Pakistan) Limited (PSX: SCBPL) has attributed the recent ‘unusual movement’ in its share price to the bank’s strong financial performance in the calendar year ending December 31, 2023 (CY23). ‘We understand that the positive trend in the price of the shares of SCBPL was triggered with the
Non-performing loans (NPLs) disbursed by the banking industry surged by more than Rs. 70 billion in 2023, the latest data by the State Bank of Pakistan (SBP) showed. In 2023, bad loans by the sector surged to Rs. 1.009 trillion, up by Rs. 71.3 billion compared to Rs. 938 billion
Copyright © 2024 Media Line Pakistan All Rights Reserved.