ISLAMABAD: A UK-based financial services company ‘Kuda Technologies’ inwith Fatima Group and The City Schools Group has applied for a digital banking licence in Pakistan with the goal of driving financial inclusion in the country. Founded in 2019 and with over $90 million of funding from renowned institutional investors including Valar Ventures and Target Global, […]
Finance
Revenue collection surges by 28.6pc to Rs4.858t in 10 months
The Federal Board of Revenue (FBR) collected net revenues of Rs4,858b during the first ten months of the current fiscal year (July-April 2021-22), showing growth of 28.6 percent over the collection of Rs3,778b during the corresponding period of last year. According to provisions figures shared by the board here on Saturday, the collection during July-April […]
NBP Exchange Rates
KARACHI: Treasury Management Division of National Bank of Pakistan (NBP) on Monday issued the following exchange rates. CURRENCY SYMBOL TT Selling TT Buying U.S DOLLAR USD 182.40 181.90 EURO EUR […]
Shipping Activity at Port Qasim
KARACHI: Five ships namely, MOL Generosity, Maersk Senang, Chemroad Rose, Tebek, and Nave Cosmos carrying Containers, Phosphoric Acid, LNG and Palm oil, berthed at Container Terminal, Engro Terminal, Elengy Terminal and Liquid Terminal respectively on Wednesday. Meanwhile, another ship ĹValkyreĺ carrying 53,475 tonnes of Coal also arrived at the outer anchorage of Port Qasim during […]
ADB approves $300 mln loan to develop Pakistan’s capital markets
ISLAMABAD: The Asian Development Bank (ADB) Tuesday approved a $300 million loan to further develop Pakistan’s capital markets, promote private investment in the country, and help to mobilise domestic resources to finance sustainable growth. The second subprogram of ADB’s Third Capital Market Development Program builds on institutional and regulatory reforms put in place under […]
NBP Exchange Rates
KARACHI: Treasury Management Division of National Bank of Pakistan (NBP) on Friday issued the following exchange rates. CURRENCY SYMBOL TT Selling TT Buying U.S DOLLAR USD 180.55 180.05 EURO […]
Economy to grow by 5% this year, 6% next year: Shaukat Tarin
Federal Minister for Finance and Revenue Shaukat Tarin said here on Thursday that despite commodity price shocks in the international market, the economy of the country would grow by 4.5 to 5 percent during the current fiscal year and by 6 percent next year. “I am still hoping that it (growth rate) could be 5 […]
Gold price increases by Rs50 to Rs125,000 per tola
The price of 24 karats per tola gold witnessed an increase of Rs 50 and was sold at Rs 125,000 on Wednesday against its sale at Rs125,950 in the local market the previous day. The price of 10 gram 24 karat gold also increased by Rs43 to Rs 107,167 from Rs 107, 107,124 whereas that […]
Minister inaugurates Rs8.1m water supply project
Punjab Minister for Special Education Chaudhry Muhammad Akhlaq and Pakistan Tehreek-e-Insaf (PTI) leader Amir Dar, along with a taxpayer Kashif Rahim, chief executive officer (CEO) Makkah Tanneries, formally inaugurated a water supply project in Muhammad Pura, on Wednesday. The project would be completed with Rs8.1 million. A large number of residents of Muhammad Pura including […]
FBR exceeds revenue collection target with Rs262b
ISLAMABAD: The Federal Board of Revenue (FBR) collected Rs262 billion more than its seven-month net tax collection objective. The FBR has effectively maintained the momentum of its revenue collecting growth trajectory. According to the FBR, the supreme tax collection body collected Rs3,352 billion against its set target of Rs3,090 billion. This represents a growth of […]