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Rupee hits new 1-week low as downtick continues
KARACHI: Taking cue from the open market, Pakistani rupee maintained its downtick in the inter-bank market for the second…
Circular debt shoots up by ‘Rs500b’
ISLAMABAD: The parliamentary Public Accounts Committee (PAC) was informed on Wednesday that circular debt in the gas sector…
Pakistan’s PSDP unaffordable, completion cost understated: IMF report
ISLAMABAD: A new report by the International Monetary Fund (IMF) has said Pakistan’s Public Sector Development Programme (PSDP)…
10% super tax to stay in upcoming fiscal year
ISLAMABAD: Contrary to its promise to the business community, the government has no plans to repeal the 10% super tax imposed on…
Suki Kinari project achieves dam capping
ISLAMABAD: The Suki Kinari Hydropower Project in the north-western part of Pakistan achieved dam capping this week, marking its…
Current account surplus drops 42 times to $18m
KARACHI: Pakistan’s current account has recorded a modest surplus of $18 million in April, a figure significantly lower than…
Despite uncertainties, rupee remains stable
KARACHI: Despite the tumultuous state of Pakistani politics and economy, the local currency managed to maintain stability, closing…
Rs9b released for equity injection into power plant
ISLAMABAD: The federal government has released Rs9 billion for equity injection in an attempt to kick-start work on the stalled…
Tax on cash withdrawal proposed
ISLAMABAD: The government’s tax commission has proposed the re-introduction of withholding tax on cash withdrawal and banking…
Risk of default rises as bond yields spike
KARACHI: The yield on Pakistan’s US dollar-denominated bond experienced a significant surge, climbing 73 basis points to 106.37%…