Category Archives: Market

President apologizes to an aged taxpayer over administrative injustice of FBR

President Dr Arif Alvi has apologized to an aged taxpayer over administrative injustice by the Federal Board of Revenue.The President, in a press release issued on Sunday expressed dismay over the treatment of an 82 years old tax payer by

Govt makes partial increase in prices of petroleum products

The government has increased the prices of petroleum products in view of the rising oil prices trend in global market.According to the notification issued by the Finance Ministry, the price of petrol has increased by 3.01 rupees per litre, High

These Are the Newly Approved Taxes on Petrol and Electric Cars

After a lot of wait and speculation, the National Assembly has finally approved the mini-budget, which spells trouble for the car industry. The most notable amendment is that the Federal Board of Revenue will now charge 12.5 percent General Sales

FBR to Integrate Foreign Currency Dealers With Its POS System

The Federal Board of Revenue (FBR) has decided to integrate the foreign exchange dealers with its Point of Sale (POS) system to keep an eye on the trading activities of the forex market.According to the draft, prepared by the tax

Remittances Surge to $15.8 Billion in First Half of FY22

The inflows of remittances maintained its sustainability from the recent past which continued to surge the overall values to a handsome level of $15.8 billion in the first half of the financial year 2021-22.The remittances grew by 11.3 percent during

World Bank to Consider $85 Million House Financing Project For Pakistan Next Month

The World Bank’s Board of Executive Directors will consider the “Pakistan Housing Finance-Additional Financing” project next month, with the objective to increase access to housing finance for households and support capital market development in the co...

Rupee Posts Big Gains Against the US Dollar After Mini-Budget Approval

The Pakistani Rupee (PKR) has reversed yesterday’s losses against the US Dollar (USD) and posted gains in the interbank market today. It gained 31 paisas against the greenback after hitting an intra-day high of Rs. 176.00 against the latter during

Private Sector Borrowing Up by 194% in 6 Months

State Bank of Pakistan’s (SBP) data has revealed that private sector borrowing from banks crossed an all-time high of Rs. 1 trillion during the first half of the current fiscal.The private sector borrowed a total amount of Rs. 1.013 trillion

National Assembly Finally Passes Finance Bill 2021 Into Law

The National Assembly (NA) has passed the contentious Finance (Supplementary) Bill, sometimes known as the “mini-budget,” in the penultimate hour of the day, in a longer session with fierce resistance from opposition benches.The NA approved the governm...

Cut-off Yield on T-Bills Drops by 14 BPS

The cut-off yields on the auction of market treasury bills (T-Bills) dropped by 14 basis points despite an increase in the interest rate.The government raised Rs. 730 billion from the auction according to data released by the State Bank of