Category: bussines

KARACHI: Gold prices in Pakistan fell slightly on Wednesday, mirroring losses in the international market, even as silver recorded fresh gains. According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold per tola closed at Rs443,162, down by Rs1,000 from Tuesday’s level of Rs444,162, when it dipped by Rs2,700. Similarly, 10-gram gold was sold at Rs379,939, down Rs858. In contrast, silver continued its upward momentum, rising Rs81 to reach Rs6,085 per tola. In the international market, silver edged 0.2% lower to $58.28 an ounce after touching…

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KARACHI: In yet another volatile session, the Pakistan Stock Exchange (PSX) on Wednesday experienced a broad-based decline as investors remained cautious, which pulled the benchmark KSE-100 index down by nearly 1,500 points. In the morning, the market opened on a positive note, which briefly lifted the index, but early gains evaporated when investors trimmed their positions in the absence of positive triggers. The index moved in a narrow band throughout the session, fluctuating between the intra-day high of 168,161 and the low of 166,115. At close, the KSE-100 settled at…

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LAHORE: The struggle of Pakistan’s financial managers to achieve revenue targets for the current fiscal year has once again come under the spotlight, with early data pointing to a widening gap between projected collections and actual performance. The first quarter of fiscal year 2025-26 has already revealed a shortfall of nearly Rs200 billion, indicating deeper structural problems in the tax system at a time when the country remains under strict scrutiny from international lenders. The revenue target for the year requires a substantial 20.3% annual growth. However, the Federal Board…

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KARACHI: Gold prices fell in Pakistan on Tuesday, tracking the decline in international markets, where the metal slipped more than 1% as investors took profits after a six-week high in the previous session. In global trade, spot gold dropped 1.4% to $4,173.91 per ounce by 11:09 am ET (1609 GMT), with markets awaiting key US economic data ahead of Federal Reserve’s policy meeting next week, according to Reuters. Reflecting the global trend, domestic prices also retreated. Gold rate per tola fell by Rs2,700 to Rs444,162. The price of 10-gram gold…

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KARACHI: The Federal Board of Revenue (FBR) has issued a new Customs General Order (CGO) No 8/2025 to ensure secure transportation and transparent clearance of plant, machinery, equipment and industrial raw materials imported at concessional sales tax rates for industrial units located in erstwhile FATA and PATA. The new order applies to those industrial units that are availing concessional tax rates under Clause 89 of the Eighth Schedule of the Sales Tax Act, 1990. This new procedure is a continuation of the previously enforced CGO 01/2021. In 2018, the federal…

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“Pakistan is undoubtedly a rising star in digital assets, even if this is still a “honeymoon phase” for the South Asian country in a notoriously volatile fintech segment. How Pakistan responds to its first major crypto shock will ultimately reveal the depth of its commitment.” This is what Forbes has reported on Pakistan’s current fintech landscape. Fintech’s centre of gravity in South Asia may finally be shifting, and Pakistan is emerging as the region’s unexpected powerhouse. For years, India’s dominance kept neighbouring fintech ecosystems in its shadow. Pakistan, Bangladesh and Nepal lagged…

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KARACHI: Pakistan’s stock market is expected to extend its record-breaking rally into next year, with analysts at Taurus Securities projecting that the KSE-100 index may surpass 200,000 points by December 2026, supported by strong corporate earnings, improved investor confidence, and continued policy anchoring under the IMF programme. The bullish forecast builds on the index’s performance in 2025, as the market absorbs domestic political instability, falling global commodity prices, and active reforms in the energy and fiscal sectors. “We expect the KSE-100 index to reach 206,000 points by the end of…

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LONDON: Bitcoin fell below $90,000 on Monday as a sell-off gathered pace following the steepest monthly decline since mid-2021 and as renewed risk aversion drove investors out of stocks and digital assets. The world’s largest cryptocurrency fell 6.1% at one point. By 1120 GMT, it was down 5.2% at $86,461, set for its biggest one-day fall in a month and hovering near last month’s eight-month low of $80,553. Bitcoin shed more than $18,000 in November as a record amount of money rushed out of the market, making this its largest…

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