Business

KARACHI: The US dollar resumed its upward rally against the rupee on Friday by appreciating 90 paisa in interbank market to reach Rs140.50. However, it was selling at Rs141 in the open market amid tight supplies. Bankers said the dollar started rising and remained as high as Rs140.30, but the exchange companies reported the rate was Rs140.50. “Though there are …

ISLAMABAD: Malaysian Prime Minister Dr Mahathir Mohamad said that he had offered tax holidays to foreign investors for two decades while sharing the “secret” of Malaysia’s economic success during a business conference held on Friday. Mahathir Mohamad, who is on a three-day visit to Pakistan, said wealth creation is the only way to improve crippling economy. “Wealth is not created …

KARACHI: Following were the closing rates of foreign currencies in kerb market issued by Forex Association of Pakistan here on Tuesday, March 19, 2019.

KARACHI: Following were the closing rates of foreign currencies in kerb market issued by Forex Association of Pakistan here on Wednesday, March 20, 2019.

KARACHI: Following were the closing rates of foreign currencies in kerb market issued by Forex Association of Pakistan here on Thursday, March 21, 2019.

ISLAMABAD: Pakistan is expected to sign $900 million deals with the Malaysian investors during the visit of Prime Minister Mahathir Mohamad. Reuters quoted advisor to PM Imran Khan, Razzaq Dawood, reported that Memoranda of Understanding worth $800 to $900 million of investment would be signed with the Malaysian investors on Friday. Malaysian Prime Minister, Dr Mahathir Mohamad is arriving in …

The State Bank of Pakistan (SBP) has reiterated that Pakistani currency notes have specific features to help visually impaired persons identify the genuineness of currency notes and to distinguish between different denominations. The central bank made the clarification through a statement on Thursday in Karachi after learning and taking notice that visually impaired persons find it difficult to recognise and …

LAHORE: In a surprising development, the government on Wednesday removed the Sui Northern Gas Pipelines Limited (SNGPL) officiating managing director, appointing another one on temporary basis after a brief period of two months or so. Official sources, terming it an immature decision, said it was unprecedented in the history of the state-owned organisation incorporated as a private limited company in …

ISLAMABAD: The Federal Board of Revenue (FBR) on Wednesday notified the details related to the measures introduced in the Sales Tax Act, 1990 and Federal Excise Act, 2005 through the Finance Supplementary (Second Amendment) Act, 2019. The government, in order to liquidate huge amounts of sales tax refunds which have accumulated over a long period of time, has decided to …

LAHORE: The Dasu Hydropower Project, funded by the World Bank, now runs the risk of further delays as bureaucratic wrangling has broken out between the Ministry of Water Resources and other members of the steering committee that is empowered to make critical decisions regarding the project. At issue are the decisions taken by the Project Steering Committee (PSC) in its …