News & Updates

News Update

21

Jun 2024

Jun 21, 2024 • 5 min read

ADB, Pakistan Sign $250 Million Loan to Drive Sustainable Investments in Infrastructure, Services

The Asian Development Bank (ADB) and Government of Pakistan on Friday signed the agreement for $250 million policy-based...

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News Update

21

Jun 2024

Jun 21, 2024 • 5 min read

Pakistan’s Exports to Afghanistan Surge by Over 65% in May 2024

Pakistan’s exports to Afghanistan surged by over 65 percent during May 2024. According to sources, the country’s exports...

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News Update

21

Jun 2024

Jun 21, 2024 • 5 min read

Pakistan’s Mobile Imports Cross Rs. 450 Billion in 11 Months of FY24

The country imported mobile phones worth Rs. 458.472 billion during the first 11 months of the current fiscal year 2023-...

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News Update

21

Jun 2024

Jun 21, 2024 • 5 min read

Pakistan’s Current Account Turns Red With Deficit of $270 Million in May

Pakistan’s current account balance posted a deficit of $270 million in May 2024, according to data released by the State...

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News Update

21

Jun 2024

Jun 21, 2024 • 5 min read

Competition Appellate Tribunal Upholds CCP Penalty Against Cable Manufacturers

The Competition Appellate Tribunal (CAT) has dismissed the appeals filed by electric cable manufacturers against the Com...

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News Update

21

Jun 2024

Jun 21, 2024 • 5 min read

SBP Reserves up $31 Million to $9.13 Billion

The foreign exchange reserves held by the State Bank of Pakistan (SBP) increased slightly on a weekly basis according to...

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News Update

21

Jun 2024

Jun 21, 2024 • 5 min read

Balochistan Unveils Rs. 930 Billion Budget 2024-25

Balochistan Provincial Finance Minister Mir Shoaib Nosherwani Friday presented the province’s budget for the fiscal year...

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News Update

21

Jun 2024

Jun 21, 2024 • 5 min read

New Tax Law Gives FBR Authority to Demand Wealth Statements From Anyone

The Finance Bill 2024 has allowed the Commissioner Federal Board of Revenue (FBR) to demand wealth statements and detail...

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News Update

21

Jun 2024

Jun 21, 2024 • 5 min read

World Bank Approves $535 Million Loan to Support Two Projects in Pakistan

The World Bank’s Board of Executive Directors approved $535 million in financing for Pakistan to support two projects. T...

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News Update

21

Jun 2024

Jun 21, 2024 • 5 min read

Car Financing Declines 23rd Month in a Row

Car financing continued to fall 23 months in a row in the calendar year 2024, down 22.5 percent YoY to Rs. 233 billion b...

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News Update

21

Jun 2024

Jun 21, 2024 • 5 min read

SECP Launches 3-Month Regularization Scheme for Companies

The Securities and Exchange Commission of Pakistan (SECP) has introduced the Companies Regularization Scheme (CRS), effe...

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News Update

21

Jun 2024

Jun 21, 2024 • 5 min read

Gold Price in Pakistan Rises With Sarafa Association Further Enhancing Discount

The price of gold in Pakistan posted an increase of Rs. 1,600 per tola on Friday. According to data issued by the Karach...

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News Update

21

Jun 2024

Jun 21, 2024 • 5 min read

Pakistan’s REER Index Falls to 100.67 in May 2024 After Hitting 5-Year High in April

Pakistan’s Real Effective Exchange Rate (REER) fell by 3.62 percentage points to 100.67 in May 2024. According to the la...

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News Update

21

Jun 2024

Jun 21, 2024 • 5 min read

Pakistan Records Foreign Direct Investment of $271 Million in May 2024

The net Foreign Direct Investment (FDI) in the country stood at $271 million in May 2024, up 74 percent over the FDI of...

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News Update

21

Jun 2024

Jun 21, 2024 • 5 min read

FTO Detects Serious Flaws in FBR’s Withholding Tax Deduction on Purchase/Lease of Vehicles

Federal Tax Ombudsman (FTO) has detected serious flaws in withholding tax deductions on the purchase/lease of vehicles b...

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News Update

21

Jun 2024

Jun 21, 2024 • 5 min read

PSX Hits 80,000 Points For the First Time in History

The Pakistan Stock Exchange’s (PSX) benchmark KSE-100 Index surged by over 1,200 points on Friday to cross 80,000 for th...

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News Update

21

Jun 2024

Jun 21, 2024 • 5 min read

Rupee Again Ends Week At 278 Against US Dollar

The Pakistani rupee (PKR) ended the US Dollar with gains today after opening trade at 278 in the interbank market. It wa...

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News Update

21

Jun 2024

Jun 21, 2024 • 5 min read

Pakistan’s IT Exports Cross $330 Million in May to Hit Record High

Pakistan’s IT and IT-enabled Services (ITeS) export remittances comprising computer services and call centre services in...

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News Update

21

Jun 2024

Jun 21, 2024 • 5 min read

Political Parties Reaffirm Support for Pakistan-China Relations, CPEC

The 3rd round of the Joint Consultative Mechanism (JCM) of the Political Parties on CPEC and the Pakistan-China Politica...

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News Update

21

Jun 2024

Jun 21, 2024 • 5 min read

HUBCO Subsidiary Partners With China’s BYD to Launch Electric Vehicles in Pakistan

The Hub Power Company Limited (PSX: HUBC) through its associated company, Mega Motor Company (Private) Limited, is enter...

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News Update

21

Jun 2024

Jun 21, 2024 • 5 min read

FTO Directs FBR to Suspend License of Ocean Pacific Shipping Line

Federal Tax Ombudsman (FTO) has directed the Federal Board of Revenue (FBR) to cancel or suspend the license of a shippi...

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