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The International Monetary Fund (IMF) has approved a 2% reduction in property purchase tax, providing relief to buyers in Pakistan’s real estate market. This decision, effective from April 2025, aims to ease financial burdens on investors and stimulate transactions in the sector. However, the withholding tax (WHT) on property sellers remains unchanged. Key Agreement Between …
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Gold prices in Pakistan dropped on Friday, following a similar trend in the international gold market. The decline comes after gold hit an all-time high a day earlier, reflecting global price movements. Gold Prices Drop by Rs2,000 Per Tola According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), gold prices fell by Rs2,000 per …
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Sugar prices continue to rise in Pakistan, yet consumers remain undeterred. With overall inflation easing and the costs of other essential goods stable, people are still willing to pay more for sugar, especially during Ramadan. Despite government efforts to control prices, demand remains high. Sugar: A Household Essential For Ayesha Khan, a mother of four …
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The Pakistan Stock Exchange (PSX) saw a slight dip on Friday, ending a six-day rally as the KSE-100 Index fell 327.60 points (0.28%), closing at 118,442.17. Despite early gains, profit-taking and investor caution pushed the market into the red. Market Performance The index fluctuated throughout the session, reaching a high of 119,405.91 before dropping to …
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Pakistan’s maritime sector is set for a major transformation as the government and Hutchison Port Holdings Limited accelerate plans for a $1 billion investment in port modernization. Federal Minister for Maritime Affairs Muhammad Junaid Anwar Chaudhry met with Andy Tsoi, Managing Director of Hutchison Ports, to finalize a fast-track strategy for the project. The discussion …
Pakistan is preparing to legalize cryptocurrency in an effort to draw international investors and strengthen its digital economy. The country aims to establish a regulatory framework for digital assets, ensuring secure and compliant growth in the sector. With a young, tech-savvy population and a rapidly expanding Web3 workforce, Pakistan sees crypto as an opportunity to …
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KARACHI: The Pakistan Stock Exchange (PSX) soared to a new all-time high on Thursday. Investors reacted positively to reports of the International Monetary Fund’s (IMF) readiness to approve the government’s circular debt management plan. The bullish momentum gained strength as discussions on privatizing state-owned enterprises (SOEs) continued. Hopes of a cut in industrial power tariffs …
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The Secretary of Commerce has taken decisive action. He suspended the DGTO’s decision and restored the Chamber of Commerce. The DGTO had separated the voter lists for the Corporate Class and Associations Class. It then barred separate elections. Following this, the office bearers left the chamber. Their nameplates were removed. The move created confusion among …
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The Federal Reserve has decided to keep interest rates unchanged at 4.25%-4.50%, signaling that it is in no hurry to cut rates despite economic uncertainty. Chairman Jerome Powell emphasized the need for clarity on inflation and labor market trends before making any policy adjustments. Economic Strength and Inflation Concerns Powell noted that the economy remains …
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The State Bank of Pakistan (SBP) has denied claims that it is not issuing fresh banknotes for Eid-ul-Fitr. The central bank continues its tradition of providing new banknotes to commercial banks. This ensures the public can access fresh currency notes during the festive season. Read: Husband Sets Wife on Fire After She Objects to His Infidelity …
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The State Bank of Pakistan (SBP) has reaffirmed that it is issuing fresh banknotes for Eid-ul-Fitr, countering claims that new currency notes are unavailable. The central bank has already distributed Rs. 27 billion in fresh banknotes to 17,000 commercial bank branches across the country. This move ensures the public can access crisp new notes during …
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The Pakistan Stock Exchange (PSX) surged as investor confidence grew over the circular debt resolution and progress in the International Monetary Fund (IMF) program. The KSE-100 Index gained 801.50 points (0.69%), closing at 117,001.09, extending its bullish momentum. Market Performance and Investor Sentiment The KSE-100 Index saw a strong trading session, reaching an intraday high …
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Consumers in Pakistan are paying over Rs100 per litre in taxes, duties, and margins on petrol and diesel, adding a significant burden on fuel prices. Official documents reveal that despite no sales tax on petroleum products, multiple charges keep prices high for the public. Breakdown of Petrol and Diesel Costs According to the latest figures, …
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The National Savings Centre has announced the Rs200 prize bond draw results, held in Faisalabad on March 17, 2025. Prize bonds remain a popular investment choice in Pakistan, offering a chance to win cash prizes through regular draws organized by the State Bank of Pakistan (SBP). First Prize Winner The first prize of Rs750,000 has …
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The Pakistan Stock Exchange (PSX) started the week on a strong note. Investor confidence soared due to progress in negotiations between Pakistan and the International Monetary Fund (IMF). Optimism over the resolution of circular debt in the energy sector also fueled market gains. The KSE-100 Index climbed 663.43 points, or 0.57%, closing at 116,199.59. This …
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The federal government has decided to keep petroleum prices unchanged for the next fortnight, despite expectations of a price drop. A notification from the Finance Division confirmed that all fuel prices would remain at current levels. Current Fuel Prices The unchanged fuel rates are as follows: High-Speed Diesel (HSD): Rs258.64 per litre Petrol: Rs255.63 per …
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SpaceX is gearing up for its most ambitious goal yet—sending a rocket to Mars by late next year. CEO Elon Musk announced that if the initial missions succeed, human landings could begin as early as 2029, though he believes 2031 is a more realistic target. The Mars mission is a crucial step in Musk’s vision …
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Islamabad: Pakistan and the International Monetary Fund (IMF) have made significant progress toward a Staff-Level Agreement (SLA) on the first review of the $7 billion loan program. IMF Mission Chief Nathan Porter confirmed the development. He stated that discussions between the lender and Pakistani authorities moved forward on economic reforms under the Extended Fund Facility …
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Tesla has put Cybertruck deliveries on hold due to a critical issue with its trim. Reports indicate that the cantrail trim, a decorative piece covering the roof ledge above the door, is detaching and potentially flying off. This has led the company to issue a “containment hold,” delaying deliveries until the problem is resolved. Safety …
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The gold price has soared to record levels on Thursday in both global and local markets. In the international market, gold per ounce jumped $27, reaching $2,942. Meanwhile, in the local market, the price of gold per tola rose by Rs 2,800, hitting a new peak of Rs 309,300. Similarly, gold per 10 grams increased …
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Karachi: Visa (NYSE: V), a global leader in digital payments, has announced that Visa cardholders in Pakistan can now add their cards to Google Wallet. The announcement was made at a market-wide event hosted by Visa, attended by senior members of Pakistan’s financial industry. Starting today, Visa cardholders from HBL, Bank Alfalah, UBL, and Meezan …
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Google Wallet has officially launched in Pakistan, bringing a safer and more convenient digital payment solution to users. As Pakistan’s digital payment landscape continues to grow, this launch aims to simplify transactions, enhance financial inclusion, and support seamless payments for shopping, travel, and daily expenses. Seamless Payments and Added Convenience Google Wallet allows users to …
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Tesla stock plunged by 15%, wiping out all the gains it had made after the U.S. presidential election. The decline followed an analyst’s lowered delivery forecast, which triggered a wave of selling and increased pressure on the stock. Tesla had experienced a surge in stock value after Donald Trump’s election victory, reaching its peak in …
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