Rupee marginally weakens against US dollar By: Agencies on October 10, 2024The Pakistani rupee ended marginally weaker against the US dollar, depreciating 0.02% in the inter-bank market on Thursday. At close, the currency settled at 277.79, a loss of Re0.07 against the greenback. On Wednesday, the rupee had settled at 277.72, according to the State Bank of Pakistan (SBP). Internationally, the US dollar traded near a […]
Rs3.4tr sales tax evasion uncovered By: APP on October 10, 2024Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb said here Thursday that there was about Rs 3.4 trillion Sales Tax evasion out of a total Rs 7 trillion tax theft in different sectors of the economy. The minister was addressing a press conference along with the Chairman Federal Board of Revenue (FBR), Rashid Mahmood […]
Asian markets track Wall St record as Hong Kong, Shanghai stabilise By: APP on October 10, 2024Hong Kong, Oct 10 (AFP/APP):Asian markets tracked a record day on Wall Street Thursday, with Shanghai and Hong Kong surging after China’s central bank unveiled a facility to boost liquidity for firms to buy stocks. The yen sat around two-month lows after taking a hit in the wake of minutes showing Federal Reserve decision-makers were […]
Pakistan showcases IT sector’s potential at Tech Week Singapore By: APP on October 10, 2024Pakistan’s vibrant technology sector took center stage at Tech Week Singapore 2024, as leading companies from the country presented their cutting-edge software and IT solutions. Pakistan’s High Commissioner to Singapore Rabia Shafiq inaugurated the Pakistani Pavilion, commending the participants for their commitment to driving innovation and fostering international collaboration. “Pakistan’s IT exports have surpassed $3.2 […]
Govt financing small, medium, large dams to address water scarcity By: APP on October 10, 2024The Federal Government is financing the construction of various small, medium, and large dams/reservoirs in the country through the Public Sector Development Program (PSDP) to address growing water scarcity and drought. Scores of such projects have been planned to store surplus water which becomes available during the flood season and to provide the same for […]
Overseas workers remittances record 29pc surge: SBP By: News Desk on October 10, 2024Inflow of overseas workers’ remittances clocked in at $2.849 billion in September, a massive 29% higher on a year-on-year (YoY) basis when compared with $2.208 billion in the same month of the previous year, showed data released on Wednesday by the State Bank of Pakistan (SBP). On a month-on-month (MoM) basis, the inflow in September […]
Changing economy’s DNA must for inclusive, sustainable growth: FM By: APP on October 10, 2024Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb here on Wednesday reaffirmed the government’s commitment to implementing its reform agenda and meeting structural benchmarks to lend permanence to macroeconomic stability, promote inclusive, sustainable growth and end Pakistan’s reliance on external borrowing. He made it clear that the only way this goal could be successfully […]
Gold prices witnesse further decrease by Rs.3,000 per tola By: APP on October 10, 2024The per tola price of 24 karat gold decreased by Rs.3, 000 and was sold at Rs.271,700 on Wednesday compared to its sale at Rs. 274,700 on last trading day. The price of 10 grams of 24 karat gold also decreased by Rs. 2,572 to Rs. 232,939 from Rs. 235, 511 whereas the price of […]
Rupee sheds 5 paisa against dollar By: APP on October 10, 2024Rupee-gains-13-paisa-against-dollarPakistani rupee on Wednesday depreciated by 5 paisa against the US dollar in the interbank trading and closed at Rs277.72 against the previous day’s closing of Rs277.67. However, according to the Forex Association of Pakistan (FAP), the buying and selling rates of the dollar in the open market stood at Rs278.25 and Rs279.75 respectively. The […]
State Bank increases loan amount for SMEs, industries By: APP on October 10, 2024The State Bank of Pakistan (SBP) has announced a significant decision for supporting small and medium enterprises (SMEs) and industries by increasing loan limits under some changes to its SME Loan Regulations. According to a recent circular issued by the State Bank regarding the amended loan regulations, businesses can now access loans of up to […]