Business

Focus should have been on cutting expenses, broadening tax base

Aim is to boost remittances, promote export-oriented software industry, discourage oil demand

Govt fails to address issues of excessive spending, narrow industrial base

For Pakistan, imported coal is bad recipe, especially with current account deficit, huge price rise

Industry exports witnessed a YoY decline of 20% compared to May 2022

Benchmark KSE-100 index falls 603 points and settles at 41,301

Poised to attract foreign direct investment with attractive incentives

Fuel stations had illicitly installed digital devices in dispensers

In coming years, OPEC countries will not be able to meet demand, says Russian expert

Tehran claims its May crude output surged to above 3 million bpd

Expert calls for setting up solar plate plants in collaboration with China

Digitisation will reduce time, cost of cross-border trade

For the acquisition of a 41% stake with management control for investor, Taj Gasoline

Aims to drive competition away from them in smartphone app payments

Expected to alleviate pressure on cement sector facing a decline of 24% YoY

Retail establishments under pressure which will lead to store closures

Urges govt to resolve policy linking telecom licence fees to US dollar

Dar says similar treatment will be applied to $300m Bank of China loan

Minister says IMF conditionalities will not affect TDS as it was a targeted subsidy

Exchange rate gap between currency markets widens to Rs10

High interest rates, economic uncertainty drive stockbrokers to cancel licences

Regulator slashes tariff by Rs0.05 per unit under April FCA

Sharp drop in goods production sparks doubts about 0.3% economic growth rate

Meat industry can earn additional $15 billion in exports, say experts

Central bank has not provided a specific reason for this increase in reserves

Minister says foreign goods smuggling creating never-ending vicious cycle

Probes allegations over connections with Chinese Communist Party

Former FM says net international reserves have plunged to negative $14b

Says primary obstacle to digital transformation is the leadership

Business people urge Pakistan’s missions abroad to host mango festivals for trade diplomacy

Spread between exchange rates in markets widens

Finance Minister Ishaq Dar says current prices would remain in effect until June 30

Gas purchase from Azerbaijan will help bridge energy shortages

This represents a substantial increase compared to the 11.3% rate observed in FY22

In open market, currency regains 1.36% to Rs294 to a dollar

Widening macroeconomic crisis forces Dutch oil company to sell shareholding

Diesel, however, may become expensive by Rs3.29 per litre

Both crude benchmarks earlier climbed more than 1.5%

Spokesperson says company suffered losses in 2022 due to exchange rates, devaluation of rupee, overdue receivables

CEO assures users that no data was compromised in the breach

Announces supply deal that will see one LNG cargo provided per month

Event will help farmers advance crop harvesting mechanisation process

Finja Invest to bring investors, promote development of financial sector

4.4% lower compared to the $2.19 billion recorded in April 2023

Crude prices, however, have remained under pressure from concern over slowing economic growth and demand

Finance ministry plans to increase oil levy from Rs50 to Rs60 per litre

DISCOs will display the approved FCA separately in the consumer bills on the basis of units billed in April 2023

It comes after banks provide $5m to currency dealers

G2G import of discounted Russian crude marks key shift from US dollar-dominated export payments policy

Questions delay in project execution that leads to increase in cost