Category: Affairs

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

Finance Minister Muhammad Aurangzeb expects to reach a Staff-Level Agreement on a bigger loan program with the International Monetary Fund (IMF) by June-July 2024. He said this during the 7th Leaders In Islamabad Business Summit on Tuesday. The minister also projected foreign exchange reserves held by the State Bank of

Fauji Cement Company Limited (PSX: FCCL) has announced its financial results for the nine months that ended on March 31, 2024, posting a profit after tax (PAT) of Rs. 7 billion despite the increased financial cost of Rs. 1.26 billion incurred on expansion-related debt. In Q3 FY24, PAT clocked in

HBL today declared a consolidated profit before tax of Rs. 30.1 billion for the quarter ended March 31, 2024, 40 percent higher than in the same period last year. Profit after tax has increased from Rs. 13.3 billion in the first quarter of 2023 to Rs. 15.0 billion. Along with