Federal Minister for Information and Broadcasting Ataullah Tarar addresses a press conference in Islamabad on November 1, 2024. – Screengrab via Geo News The two sides agree to enhance cooperation in multiple sectors: “Qatar honors the Prime Minister by organizing a special exhibition in Pakistan” The Minister refers to a development milestone in the Prime … Read more
The final bidding process for the privatization of Pakistan International Airlines (PIA) took place at a local hotel in Islamabad, on October 31, 2024. — Screengrab via YouTube/Geo News ISLAMABAD: Pakistan International Airlines (PIA) has attracted Rs10 billion from the sole bidder for a stake in the national carrier for the expected minimum price of … Read more
Prime Minister Shehbaz Sharif (centre) and Saudi Investment Minister Khalid bin Abdulaziz Al-Falih, among others, speak at a joint press conference on the sidelines of the eighth edition of the Future Investment Initiative (FII) in Riyadh, October 30, 2024. – PID The number of memorandums of understanding increased after the meeting between the Prime Minister … Read more
Pakistan’s IPO market witnessed a strong recovery in 2024, with five IPOs raising PKR 8.4 billion, reflecting renewed investor confidence amid improving economic conditions. According to a report by Arif Habib Limited, key economic indicators such as downward inflation trend, monetary easing, stable currency and $7 billion IMF Expanded Financing Facility have collectively created a … Read more
State Bank of Pakistan building in Karachi. – Application/File KARACHI: Despite difficult conditions, Pakistan’s external account has improved significantly since October 2023, State Bank of Pakistan Governor Jamil Ahmed said. Hence, the Central Bank Governor expects the country’s foreign exchange reserves to reach $13 billion by the end of the current fiscal year. This came … Read more
Islamabad: The Balochistan government has collected Rs 2.5 billion from the mineral sector during the current fiscal year, despite the coronavirus pandemic and the subsequent lockdown imposed to curb the spread of the virus. An official in the Balochistan government said that the government collected the huge amount from the mining sector and deposited it … Read more
Finance Minister Muhammad Aurangzeb said Reuters Pakistan is targeting about $1 billion in a formal request for financing from the International Monetary Fund facility that helps manage external shocks. “We have formally requested consideration of this facility,” Aurangzeb said in an interview on the sidelines of the fall meetings of the International Monetary Fund and … Read more
KarachiPakistan Refinery Limited (PRL), a subsidiary of Pakistan State Oil Limited (PSO), reported a significant financial loss of INR 2.35 billion for the quarter ended September 30, 2024. This is in stark contrast to the previous year’s profits. – After tax of Rs 4.48 billion for the same period. In a filing to the Pakistan … Read more
A policeman walks in front of the Federal Board of Revenue (FBR) office building in Islamabad, on August 29, 2018. — Reuters FTO finds blatant case of organized tax fraud Fake transactions worth Rs 84 billion were made. Taxes worth Rs 14 billion were evaded in just a few months. ISLAMABAD: A glaring example of … Read more
A strike banner hangs from a position near a Boeing sign as Boeing factory workers and supporters gather in a picket line during the third day of the strike near the entrance to Boeing’s production facility in Renton, Washington, US on September 15, 2024. – Reuters Global aerospace giant Boeing announced it will cut 17,000 … Read more