KARACHI: The gold prices on Saturday increased by Rs 800. With the increase of Rs 800, the price of gold per tola will be Rs 1 lac 8 thousand. The price of 10 grams of gold increased by Rs 686 to Rs 92,593. Gold in the global market increased by 17 8 to 1745 per …
Category Archives: Business
Malpractices by some tea importers are damaging the national economy, PTA
KARACHI: The office-bearers of Pakistan Tea Association (PTA) Mr. Muhammad Aman Paracha, former Chairman, Mr. Zeeshan Maqsood, and the Convener Standing Committee (SVC) of Tea in The Federation of Pakistan Chambers of Commerce & Industry (FPCCI) have expressed their concerns over the malpractices being carried out by some tea traders. They have also requested the …
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SBP reserves increase by $13b, report
KARACHI: The foreign exchange reserves of the State Bank of Pakistan (SBP) were recorded at $13 billion in the week ending March 12, a rise of $4 million or 0.03 percent. Overall liquid foreign currency reserves held by the government, including net reserves held by banks other than the SBP, were $20 billion, according to …
Asif Ahmed appointed General Manager of IBM Pakistan
KARACHI: Asif Ahmad has been appointed General Manager of IBM Pakistan by the International Business Management (IBM). He will succeed Ghazanfar Ali, who has led IBM’s operations in Pakistan since 2016 and is now in charge of IBM’s Middle East and African operations. “The adoption of technology is not only necessary for a profitable and …
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Tax specialists observe issues in tax system
ISLAMABAD: Complications and irritants in current tax processes must be overcome in order to fully use the country’s tax capacity. According to former vice president of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) MA Jabbar, taxation schemes are getting more nuanced with each budgetary exercise, likely due to the Federal Board of …
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Govt seeks ECP resign en masse
ISLAMABAD: The ruling party, Pakistan Tehreek-e-Insaf (PTI), sought the resignation of the Election Commission of Pakistan (ECP) on Monday, accusing it of “total incompetence” in conducting open Senate elections and thereby losing the government’s confidence. The PTI government and the commission got into a battle when the latter claimed in the Supreme Court that the …
The government raises the price of kerosene by Rs3.42
ISLAMABAD: The government raised kerosene and light diesel oil (LDO) tariffs on Monday, the new rates will be effective from today. The price of kerosene oil was boosted by Rs3.42 per litre, from Rs80.19 to Rs83.61, by the government. Within the fortnightly market adjustment process, the premiums will be in place for the next two …
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Pakistan becomes the largest importers in Asia: SIPRI
STOCKHOLM: The Stockholm International Peace Research Institute (SIPRI), on Monday, informed via a report that Pakistan, among other counties, such as India, Australia, China, and South Korea, was the largest importer of major weapons. In the report by SIPRI, Pakistan collected 42% of global arms transactions in 2016–20. The United States, France, and Germany – …
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K-Electric to increase tariff, NEPRA allows
ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) has authorized K-Electric to raise the electricity tariff to Rs1.97 per unit for a period of three quarters. Currently, the government is implementing a strategy of uniform tariffs for all electricity delivery firms. The same policy applies to K-Electric as well. With a strategy of standardized market …
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March 11: Gold rates in Pakistan
KARACHI: At the opening of the bullion market, a single tola of 24-Karat gold in Pakistan was sold for Rs103,000 on Thursday, 11 March. Likewise, 10 grams of 24k gold were sold for Rs 88,305, while 10 grams of 22k gold were traded for Rs 80,947. In addition, silver was exchanged at Rs1,320/tola, while 10 …