KARACHI: Pakistan is losing between Rs247 billion and Rs350 billion annually in tax revenue due to a rapidly expanding illegal cigarette market that now accounts for 54% of total consumption, according to a new economic assessment. The findings were shared during The Express Tribune Podcast featuring experts from Oxford Economics and British American Tobacco Group…
ISLAMABAD: The government has finally come into action to secure an investment of $6 billion in the oil refining sector as it is expected to exempt machinery imports from sales tax to clear the way for refinery upgrades. The implementation of a new oil refinery policy has been stalled for the past couple of years,…
The federal government on Friday hiked the price of petrol by Rs14.92 and that of high-speed diesel (HSD) by Rs15 for the next week amid the fuel crisis triggered by the blockade of the Strait of Hormuz amid the war between the United States and Iran. According to a press release from the Petroleum Division,…
KARACHI: The Pakistan Stock Exchange (PSX) on Thursday maintained its bullish momentum as investor sentiment strengthened amid easing geopolitical tensions in the Middle East, pushing the benchmark KSE-100 index higher by 1,190 points to close just below the 173,000 level. Strong buying in banking, cement, oil and fertiliser stocks kept the market firmly in positive…
ISLAMABAD: Illicit cigarette trade in Pakistan causes an estimated annual revenue loss of about Rs350 billion, with nearly 45 to 47 billion cigarettes sold without tax, Federal Minister for Commerce Jam Kamal Khan was told during a meeting with a delegation led by Philip Morris International’s Marco Mariotti, according to a statement issued on Thursday….
ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) incorporated 4,082 companies in April 2026, the highest monthly figure in the country’s corporate history, according to a statement issued on Thursday. The total number of registered companies has reached 294,101. The SECP also set daily records, registering 300 companies on April 27 and 340 on…
Aurangzeb said the Middle East conflict had not affected Pakistan’s external account, and even if the war continues during May-June, the country is on track to achieve this fiscal year’s current account deficit target. photo: file ISLAMABAD: State Bank of Pakistan (SBP) Governor Jameel Ahmad said on Wednesday that the central bank bought $27 billion…
Funding required to operationalise facilities in building taken over from S&T ministry ISLAMABAD: The Cannabis Control and Regulatory Authority (CCRA) plans to spend Rs200 million on the renovation of its building after taking over possession of the property housing the defunct Pakistan Council for Renewable Energy Technologies from the Ministry of Science and Technology. It…
KARACHI: The State Bank of Pakistan (SBP) reported a $23 million increase in its foreign exchange reserves during the week ended April 30, 2026, which reached $15.85 billion. The country’s total liquid foreign reserves stood at $21.29 billion, of which commercial banks held net reserves of $5.44 billion. Furthermore, the rupee saw a marginal gain…
Overall market participation was strong, as 1,066 million shares were traded with a total value of Rs. 49 billion. KEL led the volume chart, with 195.8 million shares..Photo: Express The Pakistan Stock Exchange (PSX) broke a positive streak during early trading on Friday, with the benchmark KSE-100 Index dropping more than 1,100 points before trading…