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The Secretary of Commerce has taken decisive action. He suspended the DGTO’s decision and restored the Chamber of Commerce. The DGTO had separated the voter lists for the Corporate Class and Associations Class. It then barred separate elections. Following this, the office bearers left the chamber. Their nameplates were removed. The move created confusion among …
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The Federal Reserve has decided to keep interest rates unchanged at 4.25%-4.50%, signaling that it is in no hurry to cut rates despite economic uncertainty. Chairman Jerome Powell emphasized the need for clarity on inflation and labor market trends before making any policy adjustments. Economic Strength and Inflation Concerns Powell noted that the economy remains …
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The State Bank of Pakistan (SBP) has denied claims that it is not issuing fresh banknotes for Eid-ul-Fitr. The central bank continues its tradition of providing new banknotes to commercial banks. This ensures the public can access fresh currency notes during the festive season. Read: Husband Sets Wife on Fire After She Objects to His Infidelity …
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The State Bank of Pakistan (SBP) has reaffirmed that it is issuing fresh banknotes for Eid-ul-Fitr, countering claims that new currency notes are unavailable. The central bank has already distributed Rs. 27 billion in fresh banknotes to 17,000 commercial bank branches across the country. This move ensures the public can access crisp new notes during …
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The Pakistan Stock Exchange (PSX) surged as investor confidence grew over the circular debt resolution and progress in the International Monetary Fund (IMF) program. The KSE-100 Index gained 801.50 points (0.69%), closing at 117,001.09, extending its bullish momentum. Market Performance and Investor Sentiment The KSE-100 Index saw a strong trading session, reaching an intraday high …
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Consumers in Pakistan are paying over Rs100 per litre in taxes, duties, and margins on petrol and diesel, adding a significant burden on fuel prices. Official documents reveal that despite no sales tax on petroleum products, multiple charges keep prices high for the public. Breakdown of Petrol and Diesel Costs According to the latest figures, …
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The National Savings Centre has announced the Rs200 prize bond draw results, held in Faisalabad on March 17, 2025. Prize bonds remain a popular investment choice in Pakistan, offering a chance to win cash prizes through regular draws organized by the State Bank of Pakistan (SBP). First Prize Winner The first prize of Rs750,000 has …
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The Pakistan Stock Exchange (PSX) started the week on a strong note. Investor confidence soared due to progress in negotiations between Pakistan and the International Monetary Fund (IMF). Optimism over the resolution of circular debt in the energy sector also fueled market gains. The KSE-100 Index climbed 663.43 points, or 0.57%, closing at 116,199.59. This …
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The federal government has decided to keep petroleum prices unchanged for the next fortnight, despite expectations of a price drop. A notification from the Finance Division confirmed that all fuel prices would remain at current levels. Current Fuel Prices The unchanged fuel rates are as follows: High-Speed Diesel (HSD): Rs258.64 per litre Petrol: Rs255.63 per …
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SpaceX is gearing up for its most ambitious goal yet—sending a rocket to Mars by late next year. CEO Elon Musk announced that if the initial missions succeed, human landings could begin as early as 2029, though he believes 2031 is a more realistic target. The Mars mission is a crucial step in Musk’s vision …
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Islamabad: Pakistan and the International Monetary Fund (IMF) have made significant progress toward a Staff-Level Agreement (SLA) on the first review of the $7 billion loan program. IMF Mission Chief Nathan Porter confirmed the development. He stated that discussions between the lender and Pakistani authorities moved forward on economic reforms under the Extended Fund Facility …
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Tesla has put Cybertruck deliveries on hold due to a critical issue with its trim. Reports indicate that the cantrail trim, a decorative piece covering the roof ledge above the door, is detaching and potentially flying off. This has led the company to issue a “containment hold,” delaying deliveries until the problem is resolved. Safety …
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The gold price has soared to record levels on Thursday in both global and local markets. In the international market, gold per ounce jumped $27, reaching $2,942. Meanwhile, in the local market, the price of gold per tola rose by Rs 2,800, hitting a new peak of Rs 309,300. Similarly, gold per 10 grams increased …
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Karachi: Visa (NYSE: V), a global leader in digital payments, has announced that Visa cardholders in Pakistan can now add their cards to Google Wallet. The announcement was made at a market-wide event hosted by Visa, attended by senior members of Pakistan’s financial industry. Starting today, Visa cardholders from HBL, Bank Alfalah, UBL, and Meezan …
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Google Wallet has officially launched in Pakistan, bringing a safer and more convenient digital payment solution to users. As Pakistan’s digital payment landscape continues to grow, this launch aims to simplify transactions, enhance financial inclusion, and support seamless payments for shopping, travel, and daily expenses. Seamless Payments and Added Convenience Google Wallet allows users to …
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Tesla stock plunged by 15%, wiping out all the gains it had made after the U.S. presidential election. The decline followed an analyst’s lowered delivery forecast, which triggered a wave of selling and increased pressure on the stock. Tesla had experienced a surge in stock value after Donald Trump’s election victory, reaching its peak in …
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Pakistan has begun policy-level discussions with the IMF to secure the next $1 billion tranche from its $7 billion loan program. These talks, running until March 14, will assess Pakistan’s economic progress and its ability to meet IMF conditions. The key focus areas include new taxation policies, energy sector reforms, and debt reduction strategies. New …
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The Monetary Policy Committee (MPC) decided to maintain the policy rate at 12% in its meeting on March 10, 2025. Inflation in February dropped more than expected due to lower food and energy prices. However, the committee highlighted risks from price volatility, which could reverse the declining trend in inflation. Core inflation remains high, and …
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Karachi: The gold and silver prices in Pakistan remained stable on Monday, March 10, 2025. Local and international markets showed no fluctuations, keeping the rates steady. Gold Prices in Pakistan The gold price per tola (24-Karat) stood at Rs. 306,000, while 10 grams of 24-Karat gold was priced at Rs. 262,345. The 22-Karat gold price …
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Prime Minister Shehbaz Sharif has set up a three-member inquiry committee to investigate alleged irregularities in the leasing of Port Qasim Authority (PQA) land. The decision follows claims by Senator Faisal Vawda that the land was leased at extremely low prices during the current government’s tenure. According to a notification from the Prime Minister’s Office, …
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The government is launching digital prize bonds to boost economic documentation and enhance transparency. The Finance Division has directed the Central Directorate of National Savings (CDNS) to introduce these paperless bonds, replacing discontinued bearer bonds. This shift will reduce fraud, improve security, and eliminate costs linked to printing and logistics. Secure and Risk-Free Investment Unlike …
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The Pakistan Stock Exchange (PSX) continued its bullish trend on Friday, driven by expectations of a policy rate cut and progress in circular debt restructuring. Investors showed confidence as the market rallied ahead of the State Bank of Pakistan’s (SBP) monetary policy announcement on March 10. Market Gains on Positive Sentiment The KSE-100 Index surged …
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The State Bank of Pakistan (SBP) is expected to announce its seventh consecutive rate cut on Monday as the country undergoes its first International Monetary Fund (IMF) review of a $7 billion bailout. With inflation at a near-decade low, analysts believe further easing is likely, which could help unlock additional IMF funding before the national …
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