Business

Country facing worst recession in recent history while unemployment rises to 24%

Afghan envoy says Islamabad has agreed to open Ghulam Khan crossing point next Monday

Benchmark index sheds 0.3% to settle at 33,438.95

Excludes revised outlay estimates for the outgoing fiscal year

US quits negotiations, stokes fears of new trade war

Business forum urges govt to take steps for reviving economy, creating jobs

Advisers question strength of rally in equities and long-term impact of cash splurge

Central bank cites no reason for increase

Sends initial list of 38 exporters to US e-commerce giant for registration

Pass responsibility onto each other to ensure OMCs keep 20 days of stocks

Move aimed at easing pressure on exporters, earning foreign exchange

Trade slowdown, locust attacks, odd weather cause nightmare for growers, exporters

Maritime secretary says due to confidentiality clause document has to be returned

Bank revises down inflation estimates to 8% in 2020-21

Companies found involved in hoarding, black marketing of petrol

Both crude benchmarks declined earlier in session after surge in virus cases

Central bank cites no reason for increase

Legal experts says no consequential losses allowed in LNG terminal contract; $71 million claim will fail

Govt takes steps to provide financial aid of Rs25b

Another Rs480 million allocated to Emergent Need Fund to deal with coronavirus crisis

Govt has increased salaries by 10% but funds to pay them will not be released, says Akhtar

Rs300m to be spent on setting up six garbage transfer stations in Karachi

Govt will receive 89% from indirect taxes and 11% from direct taxes

Locust eradication remains main focus of the province

Political developments across the globe inject tinge of caution into trading

Currency loses Rs1.47 in three days, reaches 165.71

Maritime affairs secretary admits original concession deal offers 20-year tax relief

Encourages banks to view such financing as opportunity to broaden balance sheet

Grants sanctioned to meet excess expenditures, pick cost of bleeding enterprises

Food security ministry directed to prepare summary for discussion in ECC meeting

Benchmark index dips 170.44 points to settle at 33,848.68

Prices draw some support from stimulus measures and positive tests of drug

CM Shah unveils Rs1,241.13 budget; health gets a bump in allocation to fight Covid; salaries go up by 5-10%

Terms Gwadar port tax concessions through finance bill ‘unconstitutional’

Finance Dept releases Budget Strategy Paper

Laments Covid-19 outbreak has dealt blow to the sector

Govt has decided to reduce development funds to meet the coronavirus emergency

Chairman says govt needs to provide further funds as matter of extreme urgency

Textile sector says govt has ignored value-added exporters in FY21 budget

It comes with waning resilience of small banks, pressure on insurance firms

Risk to sensitive oil supply chain threatens country’s energy security

ECC likely to approve cash support in its meeting today

Tax exemptions made in favour of charitable organisations

IMF chief economist says both advanced and emerging markets will be in recession in 2020

Benchmark index gains 194.61 points to settle at 34,019.12

IEA revises up oil demand forecast to 91.7 million bpd for 2020

Planning minister says it is the right thing to do under the current circumstances

Major chunk of Rs97.66 billion set aside for social sector

Rs2b allocated for primary, Rs30b for secondary, Rs34b for tertiary education

Development budget for police set at Rs1.69 billion for 147 schemes