Business

KARACHI: Trading on the stock market witnessed a strong start on Monday with investors rushing to buy shares in the oil and gas sector. But the benchmark index failed to stay above 46,000 points amidst a lack of positive triggers and dropped below the previous session’s closing level. “Going forward, a slight correction can be seen and we advise investors …

KARACHI: Inflows under Roshan Digital Accounts (RDAs) — a banking facility reserved for non-resident Pakistanis — amounted to $222 million in January, down nine per cent from the preceding month. On a year-on-year basis, however, the increase in monthly RDA inflows was almost 38pc, data issued by the State Bank of Pakistan (SBP) showed on Monday. “RDA flows continue at …

ISLAMABAD: Principally approving the formation of the Pakistan Cotton Authority (PCA), Prime Minister Imran Khan on Monday called for effective legislation to protect farmers’ rights. PCA’s formation was principally approved to “ensure the provision of quality seed, monitoring and enhancing the yield”. According to Prime Minister Office, PM Khan presided over a meeting on the agriculture sector and discussed enhancing …

Technology had changed education even before Covid. In an age where one can easily look up anything on Google, no longer is rote learning considered acceptable education. Employers want employees to be digitally literate and be able to demonstrate critical thinking, creativity, collaboration and communication skills. These are also the skills required for successful entrepreneurship. Any education system that wants …

The Islamic finance industry continued its impressive growth journey in Pakistan in 2021. Pakistan has been ranked 8th in the Global Islamic Economic Indicator list with the sustainable growth of Islamic institutions in the financial sector and economy. In 2021, the Islamic finance industry of Pakistan achieved high growth, effectuated significant developments, and received global recognition. Here summarised are some …

Early last week, finance minister Shaukat Tarin told Bloomberg that “he thought (that) this (IMF) programme should be enough”. His remarks came in the wake of the International Monetary Fund’s approval of Pakistan’s request for the resumption of the Fund’s funding programme, which had practically been suspended since spring 2020, initially owing to the Covid outbreak and later because of the Imran Khan …

Despite the strong opposition against it, the PTI government eventually succeeded in getting the State Bank Amendment bill passed by the Senate by a razor-thin majority. The State Bank of Pakistan (SBP) Act, however, fell short of what appeared to be the dominant view forged in the extensive and intensive debate on the bill within and outside the government and the parliament …

ISLAMABAD: The upcoming federal budget would entail an increase in federal tax revenue by about Rs1.155 trillion, including Rs430 billion worth of additional tax measures, according to the International Monetary Fund (IMF). On the other hand, the government would target a much lower recovery on account of petroleum levy than the budgeted Rs610bn for the current fiscal year (FY2021-22) because …

BEIJING: Pakistan’s export of sesamum seeds to China achieved a historical figure of $120.44 million in 2021. China imported 92,516.55 tonnes in 2021 and was one of the main destinations for sesamum seeds exports from Pakistan, while in 2020 it was only 38,000 kilograms, according to the official data from the General Administration of Customs of the People’s Republic of …

KARACHI: The benchmark index of the Pakistan Stock Exchange (PSX) shifted to the green territory in the outgoing week as investors rushed to the bourse in anticipation of the disbursement of a $1 billion loan tranche by the Inter­national Monetary Fund (IMF). According to Arif Habib Ltd, the bullish momentum gained strength owing to investors’ optimism about the forthcoming corporate results. Besides, …