The domestic prices of diesel and petrol are likely to hike by Rs16.89 and Rs4.55 per litre, respectively, in the next fortnight, The News reported Thursday. However, the petroleum levy (PL) and General Sales Tax (GST) will remain excluded from this price hike. The price of diesel will witness a massive increase from July 1, مزید پڑھیں

The Pakistani rupee continued to gain value against the US dollar on Thursday, appreciating over Re1 as Pakistan inches closer to the release of a bailout package from the International Monetary Fund (IMF) under a staff-level agreement. The local unit was trading at Rs204.75 against the US dollar as of 1:38pm, according to forex.com.pk. The مزید پڑھیں

The US dollar was seen losing ground against the rupee in interbank trading on Wednesday morning as it fell by more than Re1, with analysts linking the development to optimism surrounding the expected release of loan tranches by the International Monetary Fund (IMF). According to the Forex Association of Pakistan (FAP), the greenback depreciated Rs1.45 مزید پڑھیں

The Ministry of Energy has asked industrial experts to provide analysis for importing oil from Russia, as the country seeks to procure the commodity at a cheaper rate amid a financial crunch. Pakistan’s monthly fuel oil imports are set to hit a four-year high in June, Refinitiv data showed. The country’s fuel oil imports could مزید پڑھیں

Bad news for power consumers, an increase of Rs7.90 per unit was approved. The increase is in line with the May monthly fuel adjustment. A public hearing was held at NEPRA headquarters regarding the May monthly fuel charges adjustment of Discus. The public hearing was presided over by NEPRA Chairman Mr. Engineer Tauseef H. Farooqi. مزید پڑھیں

The Pakistan Stock Exchange (PSX) crashed on Friday minutes after Prime Minister Shehbaz Sharif announced a 10 per cent tax on large-scale industries. The bourse stayed flat until two hours after the opening bell. However, at 11:40am, the market witnessed a steep dip with the KSE-100 losing 1,598 points and sinking to 41,100. At 12pm, مزید پڑھیں

Finance Minister Miftah Ismail Friday announced that a Chinese consortium loan of RMB 15 billion (roughly $2.3 billion) has been credited into the State Bank of Pakistan’s (SBP) account, increasing Pakistan’s foreign exchange reserves. Earlier, Pakistan had signed a loan facility agreement with a Chinese consortium of banks to aid the depleting foreign exchange reserves مزید پڑھیں

Owing to economic uncertainty and rupee depreciation, the price of gold in Pakistan plunged over Rs4,000 on Thursday. The price of precious commodities plunged by around Rs4,600 per tola and Rs3,940 per 10 grams to settle at Rs140,700 and Rs120,628, respectively. Cumulatively, the price of gold plummeted by Rs6,550 per tola in the last three مزید پڑھیں

The Federal Board of Revenue (FBR) Thursday imposed a 10% regulatory duty on the import of motor spirit — a transparent, petroleum-derived liquid that is used primarily as a fuel in internal combustion engines — from June 30, 2022. According to a notification issued by the FBR, the federal government has imposed regulatory duty at مزید پڑھیں

PTI leader and former finance minister Shaukat Tarin said on Wednesday that a potential deal with the International Monetary Fund (IMF) for the revival of the extended fund facility (EFF) was still weeks away as he lashed out at the current coalition government for its economic policies. Speaking to the media in Islamabad, Tarin said: مزید پڑھیں