FPCCI demands 400 basis points cut in policy rate

KARACHI: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) on Thursday demanded the central bank to cut the policy rate by 400 basis points to five percent. The State Bank... Read more »

FBR urged to abolish withholding tax on telecom services

KARACHI: Federal Board of Revenue (FBR) has been recommended to abolish withholding tax on telecom services considering the rate is too high and a large segment of people living below poverty line.... Read more »

Share market gains 112 points in mixed trading

KARACHI: The share market gained 112 points on Thursday in mixed trading during the day. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 33,805 points against 33,693 points showing... Read more »

Foreign exchange reserves ease to $18.74 billion

KARACHI: The foreign exchange reserves of the country eased by $10 million to $18.745 billion by week ended May 02, 2020, State Bank of Pakistan (SBP) said on Thursday. The foreign exchange... Read more »

Rupee makes sharp recovery against dollar

KARACHI: The Pak Rupee made significant recovery of 85 paisas against dollar on Thursday owing to inflows of the foreign currency in shape of remittances and export receipts. The rupee ended Rs160.10... Read more »

Textile exports post sharp 64 percent decline in April

ISLAMABAD: The textile exports have witnessed massive 64 percent decline in April 2020 due to lower demand in foreign markets and cancellation of orders due to coronavirus outbreak. According to data released... Read more »

Car import registers 148 percent growth amid coronavirus pandemic

KARACHI: Import of motor vehicles in completely built-up unit (CBU) condition registered phenomenal growth of 148 percent in April 2020 despite restrictions to foreign trade owing to lockdown for preventing coronavirus pandemic.... Read more »

Huge lot of Afghan transit vehicles to be auctioned on May 15

KARACHI: A large number of motor vehicles of Afghan Transit Trade has been offered for auction at Port Muhammad Bin Qasim International Terminal Operator (QICT), Karachi. The auction is scheduled for May... Read more »