ISLAMABAD: Reporting the petroleum sector’s circular debt at about Rs1.2 trillion, the petroleum division on Wednesday said the National Accountability Bureau’s (NAB) “brutal act” was causing a heavy cost to the economy and needed to be reined in to let the country achieve its potential. Petroleum Secretary Dr Arshad Mahmood, while testifying before the Senate Standing Committee on Petroleum, said NAB …

KARACHI: Foreign investment in Pakistan Investment Bonds (PIBs) witnessed a cumulative net inflow of $256 million during the outgoing financial year as opposed to the trend in Treasury bills (T-bills) and equities. The State Bank of Pakistan’s (SBP) latest data issued on Wednesday revealed that the inflows in equities and T-bills were less than the outflows resulting into negative figures …

ISLAMABAD: Pakistan’s top tax machinery collected Rs4.721 trillion in the outgoing fiscal year exceeding the revised target of Rs4.691tr by Rs30 billion, showed provisional data released by the Federal Board of Revenue (FBR) on Wednesday. A few more billions will be added when revenue collection from book adjustments and others is cleared in the next couple of days. For 2021-22, …

KARACHI: Amid a drop in world gold prices and gaining rupee against the dollar, consumers paid higher rates for the yellow metal during the outgoing fiscal year (FY21). On Wednesday, one-tola and 10-gram (24 karat) gold rates rose by Rs2,800 and Rs2,400 to Rs108,000 and Rs92,592, respectively, from Rs105,200 and Rs90,192 on July 1, 2020. World gold price plunged by …

ISLAMABAD: The total liabilities of the state-owned enterprises (SOEs) that made a loss in three out of the five past years have been about 8 to 12 per cent of GDP in recent years, several times more than the country’s public spending on education in 2019-20. Describing the percentage liabilities to GDP as ‘remarkably high’, the World Bank report, “Hidden Debt: …

One Direction star Harry Styles has been  spotted getting cozy with Olivia Wilde during a romantic getaway in Italy’s Tuscany. In the photo taken by a fan, Harry and Olivia  are seen enjoying a romantic walk together during a much needed getaway in Rome, looking very much in love. Harry, 27, and Olivia, 37, were photographed strolling with their arms …

Bella Hadid and Kendall Jenner mesmerised fans  with their amazing fashion looks on their way to Jacquemus show in Paris on Wednesday. Kendall flaunted her fit physique in a black plunging top and matching skirt as she joined her pal Bella Hadid at La Cite Du Cinema. Meanwhile, Bella Hadid also looked amazing as she donned a black tiny top …

Britney Spears and her boyfriend Sam Asghari have reportedly made up their minds to strengthen their romantic relationship. A media outlet, citing source, claimed that Britney and  Sam are serious about their relationship and want to get married and have children. It comes after the 39-year-old pop star gave her testimony in court last week in her bid to get …

Meghan Markle’s pal Jessica Mulroney has shared a cryptic post about friendship and love months after her racist bullying claims, seemingly  knocking at the Duchess’ heart. The Canadian fashion stylist shared her thoughts on her old and new relationship as she  posted a quote about “losing friends and finding better ones”. Mulroney’s friendship with the Duchess of Sussex was said …

Husband of Indian actress   Mandira Bedi died at the  age of 49 due to a heart attack.. According to the local media, filmmaker Raj Kaushal’s funeral was held on Wednesday. Mandira Bedi, known for her role in Dilwale Dulhania Le Jayenge, tied the knot with Raj Kaushal in 1999. The couple welcomed their first child, a baby boy Vir, in …