Federal Minister for Commerce Jam Kamal Khan said that the government has prioritized resolving the issues faced by the Carpet Sector and also their concerns related to tax duties. He expressed these words to a delegation from the Carpet Association who met with Federal Minister for Commerce, Jam Kamal Khan here at his office in […]
Business
CCP greenlights Nishat Hotels and Properties’ acquisition of Hotel Margala
The Competition Commission of Pakistan (CCP) approved the acquisition of assets of Hotel Margala Private Limited by Nishat Hotels and Properties Limited (NHPL), read a statement issued on Saturday. Under the Sale and Purchase Agreement, Nishat Hotels and Properties Limited will acquire the assets of Hotel Margala, including leasehold rights to its plot on Srinagar […]
Cotton cultivated on 10,659 acres in Faisalabad
Divisional Commissioner Madam Maryam Khan has said that efforts have been accelerated to achieve Early Cotton Cultivation targets and the crop has so far been sown over 10,659 acres of land in the division. Presiding over a meeting here on Saturday, she said that a vigorous campaign has been launched to accomplish the cotton cultivation […]
WB’s MIGA pledges support for Pakistan’s financial sector
The Multilateral Investment Guarantee Agency (MIGA), a member of the World Bank Group, has reaffirmed its commitment to support Pakistan’s financial institutions and capital markets. The development came during a meeting between Finance Minister Muhammad Aurangzeb with a delegation from the Multilateral Investment Guarantee Agency (MIGA) at the Finance Division on Friday. According to a […]
Weekly inflation goes up by 0.27pc
The weekly inflation, measured by the Sensitive Price Indicator (SPI), went up by 0.27 percent for the combined consumption groups during the week ended on February 20, the Pakistan Bureau of Statistics (PBS) reported on Friday. According to the PBS data, the SPI for the week under review in the above-mentioned group was recorded at […]
SBP awards license to Mashreq Bank to operate as digital retail bank
The Governor, State Bank of Pakistan (SBP) awarded the first restricted license for pilot operations to Mashreq Bank Pakistan Limited (MBPL) in a special meeting held with the Board and senior management of MBPL. State Bank’s Deputy Governor and senior executives were also present on this occasion. This was yet another landmark, as earlier this […]
Rupee sheds 11 paisa against dollar
The Rupee on Friday depreciated by 11 paisa against the US Dollar in the interbank trading and closed at Rs279.57 against the previous day’s closing of Rs279.46. However, according to the Forex Association of Pakistan (FAP), the buying and selling rates of the dollar in the open market stood at Rs279.95 and Rs281.45, respectively. The […]
Gold price decreases to Rs 307,000 per tola
The price of 24 karat per tola gold decreased by Rs.2,000 and was sold at Rs 307,000 on Friday against its sale at Rs 309,000 on previous trading day, All Pakistan Sarafa Gems and Jewelers Association reported. The price of 10 grams of 24 karat gold also decreased by Rs 1,714 to Rs 263,203 from […]
Profit-taking takes PSX down by 938 points
The 100-Index of the Pakistan Stock Exchange (PSX) witnessed bearish trend on Friday, losing, 938.23 points, a negative change of 0.82 percent, closing at 112,800.93 points as compared to 113,739.16 points on the last trading day. A total of 455,394,404 shares were traded during the day as compared to 787,438,742 shares the previous trading day, […]
SBP injects Rs 1.75tr in the market
The State Bank of Pakistan (BPS) injected Rs 1,754 billion in the market through reverse repo purchase and Shariah Compliant Mudarabah based Open Market Operations (OMO) on Friday. The SBP conducted the Open Market Operation, Reverse Repo Purchase (Injection) for 7-day and 28-day tenors on February 21, 2025 and accepted 15 bids amounting to Rs […]