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Gold prices dropped by Rs1,700 in Pakistan, settling at Rs274,500 per tola on Monday. This decline continues a recent trend in both local and international markets. On Friday, the gold price per tola had fallen by Rs1,100. Globally, gold prices dropped $17 to $2,633 per ounce, influenced by stronger US dollar performance. The rising dollar…
The Pakistan Stock Exchange (PSX) reached a new milestone today. The KSE-100 index climbed to 102,664.34 points. This is the highest it has ever been. The index rose by 1,307.02 points, a 1.29% increase during today’s trading. At 11:15 AM, the market surged to an intraday high of 102,737.83 points. The lowest point of the…
The International Monetary Fund (IMF) has advised Pakistan to either introduce a mini-budget or significantly reduce its government spending to help stabilize the economy. This comes as Pakistan faces economic challenges, including rising inflation, high debt levels, and a widening budget deficit. The IMF’s recommendation aims to ensure Pakistan can meet the requirements of its…
In a landmark decision, High Court has halted FBR tax recovery actions against Askari Bank under Alternative Dispute Resolution mechanism. This ruling highlights the importance of tax dispute resolution and ensures that businesses engaged in ADR processes are treated fairly. The case centers around a tax dispute between Askari Bank and the FBR. The bank…
Dollar Rate Increases by 6 Paisa in Interbank Market Today, the value of the dollar in the interbank market increased by 6 paisa, closing at 277.85 rupees. The dollar had previously closed at 277.79 rupees yesterday. Throughout October, the dollar has become 14 paisa more expensive in the interbank market, with its rate at 277.71…
Petrol and diesel prices in Pakistan could see a decrease of Rs2 to Rs3 per litre starting November 1, 2024, reflecting the recent dip in global oil prices. This potential price adjustment aligns with the fortnightly fuel price revision implemented by the Pakistani government.Recent data indicates a slight drop in the international average prices of…
From Financial Struggle to Mega Success A compelling story from China is capturing global attention. A man recently faced a devastating personal setback. His girlfriend ended their relationship abruptly. She explicitly cited his financial struggles as the primary reason. Instead of dwelling on the heartbreak, he channeled the rejection. He used the pain as intense…
The Optimistic Five-Year Outlook The International Monetary Fund (IMF) has delivered a positive economic forecast. The IMF Predicts Pakistan Inflation Decline will continue steadily. This decline is expected to result in a multi-year period of stability. The Fund estimates average inflation will remain in single digits. This encouraging trend is projected to last for five…
Historic Milestone Reached in Islamabad The Pakistan Stock Exchange (PSX) reached a historic peak. The major surge happened during the SCO Summit. The PSX 100 Index hit an all-time high value. It closed at a record 86,513 points overall. This figure marks a significant gain for the market. It gained 603 points from the previous…
FBR Tax Returns Surge: Dramatic Increase in Filings and Filers Filings Cross Four Million Mark The Federal Board of Revenue (FBR) reported a huge surge. Over 4.078 million individuals filed tax returns. This massive number was reached by October 8, 2024. This early filing demonstrates improved compliance. The FBR Tax Returns Surge is highly significant….