ISLAMABAD: The International Monetary Fund (IMF) has allowed Pakistan to pass on the impact of the remaining agreed Rs53-per-litre increase in petroleum levy in two phases, as the tax shortfall of the Federal Board of Revenue (FBR) has further widened to Rs683 billion in this fiscal year. According to an earlier understanding, the entire increase…
ISLAMABAD: The Middle East conflict can cause $10 billion to $68 billion annual losses to Pakistan’s economy, and inflation could hit 17% in an extreme oil price volatility situation, said an economist in a briefing to the National Assembly Standing Committee on Finance on Thursday. The three different impact scenarios that Ali Salman, who is…
KARACHI: The Pakistan Stock Exchange (PSX) plunged on Thursday, with the benchmark KSE-100 index tumbling 2,830 points, as escalating Middle East tensions and a sharp spike in global oil prices triggered broad-based selling and dampened investor sentiment. At the close of trading, the KSE-100 index posted a sharp decline of 2,829.70 points, or 1.71%, and…
KARACHI: Pakistan’s benchmark equity market, the KSE-100 index, delivered a steady earnings performance during the first nine months of FY26, with aggregate profitability rising 8.8% year-on-year (YoY) to Rs1.243 trillion. The growth comes despite mixed macroeconomic conditions and uneven sectoral performance, reflecting resilience in key industries and the impact of easing financial costs across the…
Asia rallies as oil pulls back from peak, tech earnings lift spirits and Japan steadies yen Asian shares rallied in relief on Friday as oil prices came off the boil and upbeat company earnings pulled investors into tech stocks, while Japan’s first yen-buying intervention in two years steadied the battered currency. Apple amplified the cheer…
Procurement for API, PNR systems to follow transparent bidding under PPRA rules, say sources ISLAMABAD: Recent media reports regarding a proposed $2.4 billion airport security investment by an international firm and the award of a Rs20 billion e-gate project without open bidding are exaggerated and misleading, according to informed sources. These sources said that the…
Chairman calls on industry to deepen investment in Pakistan across artificial intelligence, robotics, and blockchain ISLAMABAD: Pakistan Virtual Assets Regulatory Authority (PVARA) Chairman and Minister of State Bilal bin Saqib on Thursday held an industry briefing, bringing together founders, chief executives, technologists, and financial innovators from Pakistan’s digital assets sector. The chairman called on industry…
Steering committee approves draft submission as public hearing runs from April 28 to May 14 ISLAMABAD: Pakistan is pursuing a case in Washington in the backdrop of the withdrawal of reciprocal tariffs imposed by the Trump administration. Officials said a public hearing began on April 28 and will continue until May 14, 2026. Pakistan’s ambassador…
Mega Motor sees spike in EV demand; Engro banks on domestic gas to shield food security KARACHI: As global oil prices surge past $100 per barrel amid ongoing Middle East tensions, industry leaders in Pakistan’s mobility and agriculture sectors are describing the crisis as both a challenge and an opportunity, particularly for accelerating electric vehicle…
Expert briefs committee that the annual impact of 51 days of war on economy is in the range of $10-14b MNA Syed Naveed Qamar chairs the meeting of the National Assembly Standing Committee on Finance and Revenue at Parliament House in Islamabad on Thursday. Photo: X The Middle East conflict could cause $10-68 billion in annual…