Author Archives: web Desk

Rupee Crashes Again Breaking the Winning Streak Against the US Dollar

The Pakistani Rupee (PKR) has broken its winning streak against the US Dollar (USD) once again and depreciated 73 paisas against the greenback in the interbank market. It depreciated by 0.42 percent against the USD and closed at Rs. 175.04

Shell Makes a Big Announcement on Opening Petrol Pumps During Strike

The news of a strike by petroleum dealers has become a matter of great worry for motorists across Pakistan. However, Shell has announced that it will also keep all of its Company-Owned-Company-Operated (COCO) filling stations open during the strike from

Google Weighs Pakistan’s Economic Potential through Digital Transformation

Digital transformation can help Pakistan unlock up to Rs. 9.7 trillion ($59.7 billion) in annual economic value by 2030, equivalent to about 19 percent of the country’s GDP in 2020, according to a new report commissioned by Google. The report—released at

State Bank of Pakistan Projects 4-5% GDP Growth Rate in FY22

The GDP [Gross Domestic Product] growth of Pakistan is expected to stay within the range of 4-5 percent in the fiscal year (FY) 2021-22, according to the annual State of the Economy report of the State Bank of Pakistan (SBP)

Telecom Revenue Shrank by 4.1% While Indicators Going Up in FY21

The telecom industry recorded a decline in revenue stream by 4.1 percent to Rs. 541.4 billion in FY21 according to the State Bank of Pakistan (SBP). The SBP in its Annual Report 2020-21 on the State of Pakistan’s Economy, stated

PTA and FBR Ordered to Devise a New Taxation Strategy for Mobile Users

A parliamentary panel on Wednesday expressed serious concerns over the huge taxes levied on mobile users and directed the Pakistan Telecommunication Authority (PTA) and the Federal Board of Revenue (FBR) to formulate a comprehensive strategy for the benefit of consumers.

FBR Organizes AML/CFT Training Sessions for DNFBPs

The Federal Board of Revenue (FBR), in collaboration with the United Nations Office on Drugs and Crime (UNODC), organized outreach and capacity-building sessions for Designated Non-Financial Businesses and Professions (DNFBPs) to ensure AML/CFT compliance in Karachi. The representatives from the

Shaukat Tarin Says that Tax-to-GDP Ratio Needs to be Doubled

Shaukat Tarin, the Advisor to Prime Minister on Finance and Revenue, said that in order to achieve economic development, the tax-to-GDP ratio needs to be doubled. During a ceremony in Islamabad, the Advisor mentioned that he has assured the business

Govt Might Withdraw Gas Subsidy for Industrial Consumers

The government is considering withdrawing the subsidized gas rates of $6.5 per unit for the industrial sector, reported Dawn News. According to the report, the government is considering withdrawing the subsidized rates because of the supply shortages and unsustainable average

Rupee Posts Losses Against All Currencies After Surprises Last Week

The Pakistani Rupee (PKR) has posted losses against the US Dollar (USD) for the second time since last week as the local unit deteriorated by 50 paisas against the greenback in the interbank currency market today. The local currency maintained