KARACHI: State Bank of Pakistan (SBP) on Thursday said that it has received government proceeds of $2.5 billion Eurobonds issuance in its account. The central bank in a tweet said that as a result of current transfers, the SBP’s foreign exchange reserves are closed above $16 billion on Thursday, the highest level since July 2019. […]
KARACHI: International Monetary Fund (IMF) has projected that Pakistan’s GDP growth may grow five percent in 2023/2024 from projected growth of 1.5 percent in the current fiscal year. The IMF issued country report on Pakistan’s economy on Thursday. According to the IMF real GDP growth is projected to remain subdued at 1.5 percent in FY […]
KARACHI: The stock market gained 788 points on Thursday owing to positive investors’ sentiments on extension in debt servicing by G20. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 44,741 points from previous day’s closing of Rs43,953 points, showing the increase of 788 points. Analysts at Topline Securities said that The day […]
KARACHI: The liquid foreign exchange reserves of the country have declined by $157 million to $20.679 billion by week ended April 02, 2021, State Bank of Pakistan (SBP) said on Thursday. The foreign exchange reserves of the country were at $20.836 billion by week ended March 26, 2021. The official reserves of the SBP fell […]
KARACHI: Appellate Tribunal, Sindh Revenue Board (SRB) on Thursday issued timings during the holy month of Ramazan ul Mubarak 1442 Hijri. In pursuance of High Court of Sindh’s Notification issued April 03, 2021, the Apellate Tribunal, Sindh Revenue Board, Karachi will observe the following office timings during the holy month of Ramazan ul Mubarak 1442 […]
KARACHI: The US dollar weakened to Pak Rupee at Rs153.02 on Thursday owing to lower demand for import payments, dealers said. The rupee ended Rs153.02 to the dollar from previous day’s closing of Rs153.18 in the interbank foreign exchange market. The dealers said that due to rising case of coronavirus the importers were cautious in […]
KARACHI: Habib Bank Limited (HBL) has shown interest to acquire consumer portfolio of SilkBank Limited, according to a statement issued on Thursday. An information shared by the SilkBank to the Pakistan Stock Exchange (PSX) revealed that HBL had requested SilkBank Limited to provide its concurrence to HBL to apply to State Bank of Pakistan (SBP) […]
ISLAMABAD: The revenue authorities of federal and provincial governments on Wednesday reached on an agreement to provide a single web portal to taxpayers for filing only one sales tax return for all revenue authorities. A statement stated that Federal Board of Revenue (FBR) and all the four provincial revenue authorities Wednesday signed a Memorandum of […]
ISLAMABAD: Gwadar Free Zone has become practically operational with the first consignment clearance by Pakistan Customs, a statement said on Wednesday. According to the statement, Pakistan Customs has facilitated the clearance of the first import cum export consignment by M/s. HK Sun Corporation limited, which will be further processed in Gwadar Free Zone established under […]
ISLAMABAD: Securities and Exchange Commission of Pakistan (SECP) on Wednesday said that private companies especially startups are allowed to offer ownership right to their employees as non-monetary compensation for their intellectual services and promotion of their business. Employee Stock Option Plan (ESOP) is a popular method of attracting, motivating, and retaining employees. Stock Option Plans […]