Business
Pakistani rupee gains ground against USD
On Tuesday, the Pakistani rupee strengthened by 02 paisa against the US dollar in interbank trading, closing at Rs 278.18. According to the Forex Association of Pakistan (FAP), the dollar’s buying and selling rates in the open market were Rs 277.02 and Rs 279.50, respectively. Earlier, the Pakistani rupee lost 08 paisa against the US…
Pakistan’s cotton exports surged by 65.85pc
Islamabad, May 12, 2024 :Pakistan’s cotton yarn exports to China surpassed $166.37 million, marking a 65.85% increase in the first quarter of 2024. According to data from the General Administration of Customs of the People’s Republic of China (GACC), imports of uncombed single cotton yarn containing 85 percent or more from Pakistan reached over $99.12…
Budget 2024-25: Pakistan likely to end tax exemptions
Islamabad, May 12, 2024 : Pakistan Government to Likely Eliminate Tax Exemptions in FY2024-25 Budget at IMF’s Request. Budget proposals for FY2024-25 suggest Pakistan’s plan to gradually remove exemptions on sales and income tax. Additionally, the government is contemplating levying sales tax on tractors and pesticides, which could result in increased prices for these crucial…
Pakistan-IMF delegation to commence talks tomorrow: Aurangzeb
Lahore, May 12, 2024 : Finance Minister Muhammad Aurangzeb announced on Sunday that the IMF team has arrived in Pakistan, with talks for a new loan program set to commence on Monday. Speaking at a pre-budget seminar, the finance minister emphasized the crucial role of the private sector in navigating the country through challenging times….
IMF identifies ‘political uncertainty’ in Pakistan
Islamabad, May 12, 2024 : Following the February 8th general election, the International Monetary Fund (IMF) has voiced concerns regarding the persistent political uncertainty in Pakistan. In its latest report on Pakistan’s political landscape, the IMF expressed worry about the continued political uncertainty in the country. Despite the formation of a coalition government by the…