Category: bussines

The capital market surged on Friday, fuelled by mounting expectations of an imminent policy rate cut, significant strides in circular debt restructuring, and sustained bullish investor sentiment. Investor confidence drove aggressive buying across key sectors, with cement and energy stocks leading the rally ahead of the highly anticipated State Bank of Pakistan (SBP) monetary policy announcement on March 10. Adding to the optimism, a decline in the Sensitive Price Index (SPI) reinforced projections of lower inflation for March, strengthening the case for monetary easing and further propelling market momentum. The…

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ISLAMABAD: Federal Minister for National Food Security and Research Rana Tanveer Hussain said that the federal government will reassess the 18% General Sales Tax (GST) on packaged milk to support the dairy sector and encourage investment. The minister made the assurance to a delegation of the Pakistan Dairy Association (PDA) delegation during a meeting on on Thursday, where the visiting side highlighted key challenges faced by the dairy industry, including the financial strain on dairy processors and farmers due to the GST. The tax has resulted in increased costs for…

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US President Donald Trump on Thursday delayed some tariffs targeting Canada and Mexico, leading Ottawa to halt an upcoming wave of countermeasures — offering a reprieve to companies and consumers after blowback on financial markets. Stock markets tumbled after Trump’s duties of up to 25% took effect Tuesday, as economists warned that blanket levies could weigh on US growth and raise inflation. Trump signed orders Thursday to hit pause on the fresh tariffs for Canadian and Mexican imports covered by a North American trade agreement, though he dismissed suggestions that…

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US President Donald Trump said Thursday he planned to visit Saudi Arabia, suggesting a deal for major investment from the kingdom that has become the key venue for US diplomacy with Russia and Ukraine. Trump, asked if he would meet Russian President Vladimir Putin in Saudi Arabia, confirmed his intention to visit the oil-rich Gulf nation but suggested that business was the main motive. “I’m going to Saudi Arabia,” Trump told reporters, without mentioning a date. “I said, I’ll go if you pay a trillion dollars, $1 trillion to American…

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Privatisation Minister Abdul Aleem Khan on Thursday claimed that the federal government would complete the privatisation process of Pakistan International Airlines (PIA) within a span of three months. In a statement, the privatisation minister said: “All concerns of the parties interested in the process of privatisation of the airline have been addressed properly.” He said that the government decided to make changes according to the preferences of parties interested in buying PIA stake. “To make PIA’s privatisation more attractive, a new roadmap is being provided, and it is expected that…

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ISLAMABAD: Electricity tariffs have been reduced nationwide under the monthly fuel charge adjustment (FCA), bringing relief to consumers, the National Electric Power Regulatory Authority (NEPRA) notified on Thursday. Power tariffs for K-Electric (KE) consumers will see a cut of Rs3 per unit in their bills, while for the rest of the country, they have been slashed by Rs2.12 per unit. According to the notifications issued by the power sector regulator, the relief will be reflected in electricity bills for March. The price reduction for K-Electric applies to the December 2024…

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Local gold rates fell on Thursday, weighed down by profit-taking in global markets, according to data from the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA). The per tola (11.7 grammes) price dropped by Rs3,000 to settle at Rs304,000, while the 10-gramme rate slid Rs2,571 to Rs260,630. Meanwhile, 22-karat gold lost Rs2,359 to end at Rs238,919 per 10 grammes. As per the data shared by APGJSA, the decline came as international gold prices slipped by $28 to $2,893 per ounce, weighed down by a stronger dollar and shifting investor sentiment. Silver,…

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BEIJING: In retaliation of the trade war initiated by President of the US Donald Trump, the Chinese Embassy in the US on Wednesday expressed determination “to fight till the end”. Trump imposed more blanket tariffs on Chinese imports following a similar move last month prompting major Asian markets to trade up on Wednesday and reverse their losses a day after the enforcement. US tariffs are expected to hit hundreds of billions of dollars in total trade between the world’s two largest economies. “If war is what the US wants, be…

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Gold prices in Pakistan rose again on Wednesday, defying a wobble in international markets amid US tariff war-led economic uncertainties, data from the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA) showed. The per tola (11.7 grammes) gold price in the local market edged up by Rs700 to settle at Rs307,000, while the 10-gramme rate rose by Rs601 to reach Rs263,203. Meanwhile, 22-karat gold climbed to Rs241,278 per 10 grammes after gaining Rs551. Silver also followed gold’s upward trend, with per tola prices climbing Rs54 to Rs3,369, while 10-gramme rates edged…

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LONDON/ISLAMABAD: Bilal Bin Saqib MBE has been appointed as the Chief Adviser to the Finance Minister on the (Pakistan Crypto Council) by the federal government to reaffirm Pakistan’s commitment to embracing technological advancement while ensuring sound policy measures that support the national economy, digital transformation, and a secure, transparent financial system for all. The notification issued by the Finance Ministry states: “The Ministry of Finanace has been pleased to appoint Mr Bilal Bin Saqib as Chief Adviser to the Finance Minister on Pakistan Crypto Council in Finance Division, in terms…

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