Interior minister says if traders act decisively, up to $10b could return to Pakistan before upcoming budget KARACHI: Interior Minister Mohsin Naqvi on Tuesday urged the business community to repatriate a portion of overseas-held wealth, estimating that nearly $100 billion has been moved out of the country over the past three to four years. Addressing business…
The International Monetary Fund logo is seen during the IMF/World Bank spring meetings in Washington, U.S., April 21, 2017. REUTERS ISLAMABAD: The International Monetary Fund (IMF) on Tuesday lowered Pakistan’s economic growth forecast to 3.5% and increased inflation projection to 8.4% for the next fiscal year due to the Middle East conflict, as it does…
At current prices, the looted gold is worth around $70 million. PHOTO: PIXABAY Gold rose more than 1% on Tuesday, recovering from a near one-week low hit in the previous session, as hopes of a resolution to the war in Iran weighed on the dollar and eased inflation concerns as oil prices eased. Spot gold…
Iran renewed attacks on the United Arab Emirates on Tuesday, causing oil loading at the port of Fujairah to be at least partly halted after the third attack in four days. FILE IMAGE: PIXABAY LAHORE: A renewed surge in global oil prices following the end of Islamabad-mediated talks between Washington and Tehran has wiped out…
Submits call attention notice in upper house, asks IT minister when licences will be issued ISLAMABAD: Prolonged delay in issuing licences for satellite-based internet services will be debated in the Senate as a senator has submitted a call attention notice seeking explanation from the federal minister for information technology. “I would like to draw the…
Decline was largely driven by a 23% month-on-month drop in Pak Suzuki Motor Company (PSMC) sales Indus Motor CEO has pleaded for rationalising the tax structure for locally manufactured vehicles to create a level playing field with the imported used cars. photo: file KARACHI: Pakistan’s car sales clocked in at 15,531 units in March 2026,…
Strong dollar, inflation fears hit bullion; US-Iran talks collapse also weighs in At current prices, the looted gold is worth around $70 million. PHOTO: PIXABAY KARACHI: Gold prices in Pakistan declined on Monday, tracking losses in the international market, as a stronger US dollar and renewed inflation concerns dampened investor sentiment following the collapse of…
Warns remittances not sustainable, urges focus on exports as solar capacity hits 8,000MW ISLAMABAD: Federal Minister for Finance Senator Muhammad Aurangzeb has described Pakistan’s recent Eurobond repayment as a ‘non-event’, reflecting growing international confidence in the country’s ability to meet its external obligations. Addressing a panel discussion on Pakistan’s economy at Harvard University, the finance…
Bilateral trade below $1b as KCCI proposes direct flights, enhanced banking channels KARACHI: Bangladesh High Commissioner Md Iqbal Hussain Khan has stated that relations between the two countries are witnessing positive momentum, reflecting a strong commitment by both governments to strengthen bilateral ties, according to a statement issued on Monday. Speaking during his visit to…
ISLAMABAD: Pakistan’s struggling salaried class paid Rs420 billion in income tax in just nine months of this fiscal year, while the real estate sector contributed Rs197 billion despite overall sluggish activity during the past two years, according to provisional data compiled by the Federal Board of Revenue (FBR). The salaried class’s economic hardships have heightened,…