The Pakistani Rupee (PKR) finally held out against the US Dollar (USD) and reported no change against the greenback in the interbank market today. Withal, it hit an intra-day low of Rs. 178.30 against the USD during today’s open market session.The loca...
Read More »Monthly Archives: December 2021
Islamic Development Bank Approves $252.5 Million Funding for Pakistan
The Islamic Development Bank (IsDB) has approved $252.5 million of funding for two vital projects in Pakistan aimed to support the country’s green agenda in the energy sector and its ongoing efforts to counter the adverse impacts of COVID-19.President ...
Read More »Packages Ltd-Led Consortium Interested in Taking Over Sanofi-Aventis Pakistan
Packages Limited will lead a consortium consisting of IGI Investment and Affiliates of Arshad Ali Gohar Group to acquire majority shares of 52.87 percent in the leading pharmaceutical company, Sanofi-Aventis Pakistan.According to stock filing, the mana...
Read More »FTO Orders Investigation of Tax Formula Issue
Federal Tax Ombudsman (FTO) Dr. Muhammad Asif Mahmood Jah, has directed officials to investigate the issue of the minimum tax computational formula that was approved by a policymaker of the Federal Board of Revenue (FBR).The FTO Office has sent a notic...
Read More »SBP’s New Foreign Currency Rules to Reverse the Negative Trend: Economist
The State Bank of Pakistan (SBP) has updated the regulations governing the selling of foreign exchange to individuals by exchange companies in order to curb the demand for the US Dollar in the local markets.The central bank has added new limits for the...
Read More »Pakistan to Face Another Electricity Price Hike of Rs 4.33 Per Unit
The Central Power Purchasing Agency (CPPA) has sought an increase of Rs. 4.33 per unit in power tariff on account of monthly fuel charges adjustment (FCA) for November 2021.Following a massive increase of Rs. 4.75 per unit from NEPRA, on account of mon...
Read More »Current Account Deficit Surges to Record High in November 2021
Pakistan’s current account recorded the highest deficit of $1.91 billion during the current financial year 2021-22 in November 2021 according to the statistics released by the State Bank of Pakistan (SBP) on Monday due to the soaring import bill.Accord...
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