Business

KARACHI: The three-day gaining streak at the stock market snapped on Friday — the last trading day of the rollover week — when the KSE-100 index made an initial false start to extend the earlier day’s gains by 31 points. However, the index soon succumbed to selling pressure. Cements, steel, fertilisers and banking stocks came under pressure. The index hit …

ISLAMABAD: Extending the deadline for the submission of taxpayers’ profiles to June 30, the Federal Board of Revenue (FBR) on Friday warned non-compliant taxpayers that their names will be removed from the Active Taxpayers List (ATL) and linked re-inclusion with the payment of a surcharge. Under Section 114 A of the Income Tax Ordinance 2001, the deadline for online submission …

ISLAMABAD: Weekly inflation for the combined group in the period ended on March 25 slightly increased by 0.61 per cent on the back of uptick in prices of essential food items, data released by the Pakistan Bureau of Statistics (PBS) on Friday showed. The week-on-week increase in inflation was noticed after a drop for the past second consecutive week. Since …

ISLAMABAD: The World Bank on Friday signed agreements with Pakistan to provide $1.336 billion worth of assistance which would boost the country’s foreign exchange reserves and help support social sectors. A total of six project agreements worth $1.336bn, including $128 million grant, were signed to support the government’s initiatives in social protection, disaster and climate risk management, improving infrastructure for …

KARACHI: The US dollar lost 42 paisas against the rupee on Friday in the inter-bank market as currency experts believe that the downward trend would continue and the greenback would soon reach the pre-Covid level. The dollar was traded at around Rs154.50 during the day but closed at Rs154.59 compared to Rs155.01 a day before. The greenback has depreciated 7.5 …

KARACHI: Stocks on Thursday extended their bullish stance to the third trading day of the rollover week. The KSE-100 index opened in the positive and early day investors’ exuberance carried it to intra-day high by 456 points. However, after several ups and downs in regular succession the index closed with gains of 182 points or 0.40 per cent at 45,726.17. …

ISLAMABAD: After conceding breach of Pakistan’s financial data integrity, the government has secured approval of the executive board of the International Monetary Fund (IMF) for disbursement of $500 million and revival of the fund programme after a year. This followed commitments with the board to generate more than Rs700 billion in additional revenues through general sales tax and income tax …

ISLAMABAD: After conceding breach of Pakistan’s financial data integrity, the government has secured approval of the executive board of the International Monetary Fund (IMF) for disbursement of $500 million and revival of the fund programme after a year. This followed commitments with the board to generate more than Rs700 billion in additional revenues through general sales tax and income tax …

KARACHI: A proposed bill, which the government claims is aimed at making the central bank autonomous, will practically provide immunity to top officials of the State Bank of Pakistan as no investigating agency, including the anti-corruption watchdog NAB, can initiate any action against them without obtaining permission from the board of directors of the bank, it has emerged. “No action, …

Special Assistant to the Prime Minister on Petroleum Nadeem Babar has been asked to resign from his position over the fuel crisis, federal minister Asad Umar announced on Friday. Addressing a press conference, he said Prime Minister Imran Khan had asked Babar to step down from the position. Meanwhile, the petroleum secretary will also be given an order to report …