Pakistan and Saudi Arabia have taken a significant step toward enhancing their bilateral trade and economic ties as businessmen from both countries inked a pact to explore new opportunities for mutual benefit.
(more…)Month: January 2019
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Current account deficit narrows by 4.43pc to $7.98bn in first half
The current account deficit (CAD) has significantly narrowed by 4.43 percent during the first half of the current fiscal year.
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SBP’s reserves fall below $7 billion
KARACHI: Pakistan’s State Bank of Pakistan (SBP) has reported a decline in its official foreign exchange reserves, which have fallen below $7 billion, according to an official statement released on Thursday.
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KSE-100 index ends down by 28 points
KARACHI: The Pakistan Stock Exchange (PSX) experienced a tumultuous trading day on Thursday, with the benchmark KSE-100 index closing down by 28 points, settling at 38,244 points as compared to the previous day’s closing figure of 38,272 points.
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Rupee gains two paisas against dollar
The Pakistani Rupee showed resilience on Thursday by gaining two paisas against the US dollar, as reported by dealers. This slight yet significant improvement comes in the wake of some inflows from remittances and exports, brightening the outlook for the national currency.
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Lahore customs intelligence to auction 30 confiscated luxury vehicles on January 24
ISLAMABAD: The Directorate of Customs Intelligence and Investigation, Customs, Lahore is set to conduct an auction of 30 confiscated vehicles, including luxury cars and heavy motorcycles, on January 24, 2018, at the state warehouse of the directorate.
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Collection of Withholding Tax at Import Stage Under Income Tax Ordinance 2001
The Income Tax Ordinance, 2001 outlines the collection of withholding tax at the import stage in Pakistan. This is a crucial revenue collection mechanism and is primarily administered by the Collector of Customs.
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Pakistani Rupee Gains One Paisa Against US Dollar in Early Trading
KARACHI: In a development that signals positivity for the Pakistani economy, the Pakistani Rupee has shown resilience by gaining one paisa against the US dollar in early trading today, as reported by dealers on Thursday.
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Mobile phone import declines by 18.69pc on unregistered IMEI blocking
The import of mobile phones in Pakistan witnessed a significant decline of 18.69 percent in December 2018, attributed to the government’s stringent measures to block unregistered International Mobile Equipment Identity (IMEI) numbers.
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Hopes of oil, gas discovery in offshore drilling by April
Pakistan is hoping major discovery of oil and gas in offshore drilling by April of this year, according to a statement of the petroleum minister.
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