The FBR collected Rs6.6 trillion in income tax, missing the goal by Rs323 billion. Receipts were 13.5% higher than last year, inclusive of super tax. photo:file ISLAMABAD: Pakistan has missed the International Monetary Fund (IMF) condition on federal tax collection by a margin of Rs975 billion, as the Federal Board of Revenue (FBR) only managed…
ISLAMABAD: Third-party motor insurance coverage in Sindh has surged 1,374% within three months of the provincial government making it mandatory for all registered vehicles, according to the Securities and Exchange Commission of Pakistan (SECP). Following the enactment of the Provincial Motor Vehicles (Amendment) Act, 2026, in March, active third-party policies in Sindh increased from 11,200…
PSO details contingency measures; committee seeks accountability over Multan LPG tanker explosion KARACHI: The Senate Standing Committee on Petroleum has reviewed the country’s fuel supply situation and energy security during a meeting at Pakistan State Oil (PSO) headquarters, with members expressing satisfaction over measures taken to ensure uninterrupted petroleum supplies amid regional challenges. PSO officials…
GENEVA: The UN trade and development agency warned on Tuesday that while the reopening of the Strait of Hormuz will bring immediate relief to energy markets, vulnerable economies remain at risk from prolonged increases in food and fuel costs. Food and transport systems are likely to take longer than energy markets to recover, as disrupted…
US President Donald Trump. Photo: REUTERS US President Donald Trump reported more than $1.4 billion in income from his family’s crypto ventures last year, showing how Trump now derives most of his income from digital assets that have benefited from his policies, according to a review of his latest financial disclosures on Tuesday. The filings, his…
Oil prices rose on Wednesday on concerns that breakdowns in discussions between Iran and the US for a final agreement to end their war may extend supply disruptions in the key Middle East producing region. Brent futures rose 33 cents, or 0.45%, to $73.28 a barrel at 0339 GMT, while US West Texas Intermediate (WTI) crude climbed…
Index advances 1,887 points over notable buying in key sectors, falling oil prices KARACHI: Pakistan’s stock market on Tuesday closed sharply higher as improving investor interest and broad-based buying across key sectors propelled the benchmark KSE-100 index above the 180,000-point mark. The index rose 1,886.91 points, or 1.06%, to settle at 180,301.70. During the session,…
During production test, Chak 63-05 produced 600 barrels of bpd, 10.5m standard cubic feet of gas per day (mmscfd) ISLAMABAD: Oil and Gas Development Company (OGDC) has successfully completed Chak 63-05, a new development well in the Chak 63 Development & Production Lease located in Sanghar district of Sindh, marking another milestone in the company’s…
Stablecoins are digital tokens pegged to currencies like the US dollar or euro to maintain a stable value Visa and Mastercard cards are placed on a keyboard in this illustration taken September 24, 2025. REUTERS A consortium including Visa, Mastercard and Coinbase on Tuesday launched a new joint stablecoin in a bid to broaden the…
RLNG diversion to the domestic sector and demand destruction in the captive power sector have put financial constraints on SNGPL, making it difficult for the company to pay off liabilities. photo: file ISLAMABAD: The freezing of gas prices and diversion of liquefied natural gas (LNG) by different governments have put a financial burden of Rs819…