Believes that foreign exchange reserves will close at about $18.4b for this fiscal year Pakistan Finance Minister Muhammad Aurangzeb. Photo: Reuters/ File Finance Minister Muhammad Aurangzeb on Tuesday said that the newly approved tax administration model would rely on artificial intelligence and technology to minimise human intervention in dealings between tax officials and taxpayers, and now…
KARACHI: Bulls stayed firmly in control at the Pakistan Stock Exchange (PSX) on Monday, driving the benchmark KSE-100 index higher by more than 2,000 points as aggressive buying in banking, energy and cement stocks kept the market’s upward momentum intact. The bourse opened in positive territory and extended its gains throughout the session, supported by…
KARACHI: Gold prices continued to decline for the third consecutive day in global and local markets on Tuesday. In the international bullion market, the price of gold decreased by $25 per ounce, falling to $4,125. According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold per tola also declined by Rs2,500…
LAHORE: Pakistan Railways posted a 20% increase in earnings during fiscal year 2025-26, with total revenue rising to Rs115 billion from Rs96 billion a year earlier, as the government eyes an even bigger role for freight operations to improve the financial health of the state-run entity. Addressing a press briefing on Monday, Railways Minister Muhammad…
According to the SBP’s debt bulletin, overall Rs5.9 trillion was added to the debt stock during the June-May period, at an average of Rs16 billion per day. photo:file ISLAMABAD: The federal government’s debt rose to Rs82 trillion by end of May, registering an annual increase higher than the average inflation rate, as Pakistan’s top audit…
KARACHI: Gold prices in Pakistan dropped on Monday, mirroring losses in the international market, where the precious metal retreated from two-week highs, pressured by a firmer US dollar, though limited declines reflected easing expectations of aggressive Federal Reserve rate hikes amid signs of a cooling US labour market. In the local market, the price of…
Oil prices edged higher on Tuesday, though gains were capped as traders looked beyond easing geopolitical tensions in the Middle East and turned their attention to supply increases and demand prospects. Brent crude futures gained 38 cents, or 0.5%, to $72.37 a barrel, while US West Texas Intermediate crude rose 30 cents, or 0.4%, to $68.85…
SIALKOT: SECP Commissioner Muzaffar Ahmed Mirza has urged the business and industrial community to formalise their businesses through corporatisation to improve governance, enhance transparency and access new financing and growth opportunities. Speaking at the Sialkot Chamber of Commerce, Mirza said that the SECP was simplifying regulatory procedures, reducing compliance requirements and expanding digital services to…
KARACHI: Cement demand in Pakistan rebounded strongly in FY26 on the back of construction revival and lower policy rates, with dispatches rising to multi-year highs. Total cement dispatches reached 50.58 million tons in FY26, up approximately 8% year-on-year, driven primarily by robust local demand. “The improvement was led by domestic demand, where sales grew 9%…
ISLAMABAD: There is a point beyond which higher tax rates do not produce higher revenue. In fact, they can do the opposite: shrink the tax base, encourage avoidance, push activity into informal channels, and reduce the very revenue the state hopes to collect. This is not merely a textbook proposition from the Laffer Curve. Pakistan’s…