Category Archives: Market

Askari Bank’s Profits Dip by 16% in First 9 Months of 2021

Askari Bank Limited has given shocking financial results as its profit dipped by 16% during the nine months of the calendar year 2021.According to the financial results, the profit of Askari Bank declined to Rs. 6.7 billion during January to

Rupee Plunges to A New Record Low Against the US Dollar

The Pakistani Rupee crashed to a new all-time low against the US Dollar today. The Rupee depreciated by 69 paisas against the dollar and closed at 173.47.The local currency’s prior record low against the US Dollar (USD) was 172.78.Adviser to

UBL Reports 9 Months Profit of Over Rs. 21 Billion

The United Bank Limited (UBL) has made a hefty profit of over Rs. 21 billion in the past nine months of 2021, making a year-on-year (YoY) growth of 42% in the first quarter of the Fiscal Year 2021-22.According to financial

FBR Notifies Transfer of 6 Senior Customs Officers to Law Ministry

The Federal Board of Revenue (FBR) has relieved from duty six senior customs officers (BS-20 and 21) for joining the Customs Appellate Tribunal as members in Karachi, Islamabad, and Quetta.According to a notification issued by FBR on Wednesday, the Boa...

Current Account Records a Whopping $3.4 Billion Deficit in Q1 FY22

Pakistan’s current account recorded a massive deficit of $3.4 billion in the first quarter of FY2021-2022 owing to the increasing trade deficit in tandem with the high imports bill during the period from July to September in 2020.According to the

Govt Announces Price Subsidy on Ghee

Minister for Planning and Development, Asad Umar, says commodity and energy prices are much less in Pakistan compared to the regional countries.Addressing a news conference in Islamabad on Monday, he said this would be achieved by reducing taxes on edi...

BoI Seeks Cabinet Panel’s Nod for Building CPEC Tower in Islamabad

The Board of Investment (BoI) has moved a summary to the Cabinet Committee on China-Pakistan Economic Corridor (CCoCPEC), seeking approval for establishing “CPEC Business and Industrial Cooperation Tower” in Islamabad to provide state-of-the-art workin...

Rupee Crashes to Unforeseen Record Low Against the US Dollar

The Pakistani Rupee crashed to a record low against the US Dollar today. PKR depreciated by 1.60 against the dollar and closed at 172.78 after touching an intra-day low of about 173.This comes after hitting consecutive record lows against the

Govt revises prices of petroleum products

The government has increased the prices of petroleum products in view of their increase in the global market.According to the notification issued by the Finance Ministry, the price of petrol has been increased by 10.49 rupees per liter, high

Govt revises prices of petroleum products

The government has increased the prices of petroleum products in view of their increase in the global market.According to the notification issued by the Finance Ministry, the price of petrol has been increased by 10.49 rupees per liter, high