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Gold Rate in Pakistan Today – 20 November 2025
BusinessFinance & Banking

Gold Rate in Pakistan Today – 20 November 2025

by waseem
written by waseem

Gold Rate in Pakistan Today – Latest Prices (20 November 2025)

The gold rate in Pakistan today shows a strong upward trend. Local and international markets recorded a sharp rise in gold prices. This increase affected all major cities at the same time.

Gold Price Per Tola in Pakistan

According to the Sarafa Association (APGJSA), the price of gold per tola rose sharply. The new gold rate in Pakistan today reached Rs438,800after an increase of Rs7,900.
The 10-gram gold price also increased. It gained Rs6,773 to reach Rs376,200 in the local market.

City-Wise Gold Rates in Pakistan

Gold rates remained the same across major Pakistani cities. These uniform prices reflect a stable trading pattern in the local bullion market.

CityGold Price (Per Tola)
Karachi438,800
Lahore438,800
Islamabad438,800
Peshawar438,800
Quetta438,800
Sialkot438,800
Hyderabad438,800
Faisalabad438,800

Market Trend and Previous Decline

A day earlier, the price of per tola gold dropped by Rs7,000, settling at Rs423,662 on Tuesday.
Today’s recovery shows strong buying interest. Analysts believe the rebound is tied to international movements.

International Gold Market Update

Global gold prices also saw a sharp increase. APGJSA reported the international price at $4,092 per ounce, including a $20 premium. This reflects a day-on-day gain of $79.
The rise in global bullion pushed local prices higher.

Silver Prices Also Increased

Silver prices moved upward as well. The per tola silver rate increased by Rs177, reaching Rs5,422 today.

Conclusion

The gold rate in Pakistan today shows strong positive movement. Both local and global markets supported this rise. Investors are closely watching the latest shifts as gold continues to gain value.

Also Check: Live Gold Price in Pakistan

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Novo Nordisk shares fall after Trump deal
BusinessFinance & Banking

Novo Nordisk Shares Drop After Obesity Drug Price Deal

by waseem
written by waseem

Novo Nordisk shares fall after Trump deal to cut obesity drug prices, marking a major shift in the U.S. pharmaceutical market. The Danish company, along with rival Eli Lilly, has agreed to lower prices of their leading GLP-1 weight-loss medications.

Novo Nordisk and Eli Lilly Agree to Slash Prices

According to the announcement, Novo Nordisk and Eli Lilly will reduce monthly prices for drugs such as Wegovy and Zepbound. The new prices will range from $149 to $350, down from the previous $500–$1,000.

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This agreement applies to U.S. government programs like Medicare and Medicaid, as well as direct cash payers. Both drugmakers will also receive a three-year tariff relief under the new deal.

Analysts Predict Short-Term Hit, Long-Term Gains

Market analysts believe the price cuts will hurt short-term profits but may help boost long-term sales volume.
“These price cuts represent a near-term headwind but could increase patient access and sales over time,” said analysts at TD Cowen.

At 0924 GMT, Novo Nordisk shares were down by 1.8%, after dropping as much as 3% earlier in the day.

Increased Competition in the Obesity Drug Market

The weight-loss drug market has become more competitive, with Eli Lilly’s Zepbound gaining momentum. Copycat compounded drugs are also adding pressure on Novo Nordisk’s market share.

Novo’s flagship drug Wegovy, launched in 2021, initially made the company Europe’s most valuable listed firm. However, its market value has dropped nearly 70% since last year due to supply shortages and rising competition.

Financial Impact and Future Expectations

Novo Nordisk said the price reductions will cause a “low single-digit” decline in global sales growth next year. However, the company expects larger sales volumes under Medicare programs in the medium to long term.

The deal also includes provisions for starter doses of upcoming weight-loss pills, priced at $149 per month through government channels and the TrumpRx program. These offers depend on FDA approval.

FDA Expedited Review for New Obesity Pills

The U.S. Food and Drug Administration (FDA) confirmed that both companies’ obesity pills are being reviewed under a fast-track approval process.

Novo expects an FDA decision by the end of the year, while Eli Lilly has yet to submit its candidate drug, orforglipron, for review.

Analysts at Jefferies suggested the expedited process may “limit Novo’s advantage” by helping competitors enter the market sooner.

Read More: Trump Blames Shutdown for Election Loss in New York

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PTA tax refund
BusinessFinance & BankingNews

Islamabad High Court Orders PTA Tax Refund

by danish
written by danish

Islamabad High Court Orders PTA Tax Refund and Imposes Fine on Inland Revenue Commissioner

In a significant ruling, the Islamabad High Court has directed the Federal Board of Revenue (FBR) to refund the excess advance tax deducted from the Pakistan Telecommunication Authority (PTA) in 2018. The decision, made by Justice Babar Sattar, came after a prolonged delay in addressing the PTA’s request for the return of the sum of 1.37 billion rupees.

The PTA had challenged the tax department’s action, claiming that the money was wrongly deducted as advance tax without proper notice or consultation. According to the Income Tax Ordinance, taxpayers must be issued a notice before any deduction of taxes. The court ruled that this procedure was not followed, and the tax department’s action violated the PTA’s basic rights.

Justice Sattar also highlighted that the Inland Revenue Commissioner failed to make a decision within the two-month time frame specified by law. As a result, the court imposed a fine of 100,000 rupees on the Deputy Commissioner of Inland Revenue and ordered the immediate payment of the refund.

The court’s ruling was a win for PTA, which has long argued that the tax deducted from its account was unjustified. The decision is expected to set a precedent for future cases involving improper tax deductions by the government.

Key Takeaways:

  • The Islamabad High Court directed FBR to refund the excess tax collected from PTA.
  • A fine was imposed on the Inland Revenue Commissioner for the delay in processing the request.
  • The ruling emphasizes the importance of following legal procedures in tax collection.

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  2. FBR Tax Guidelines

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Khyber Pakhtunkhwa Bonds: Financial Strategy Unveiled
BusinessFinance & BankingNews

Khyber Pakhtunkhwa Bonds: Financial Strategy Unveiled

by Muhammad Sajid
written by Muhammad Sajid

The Khyber Pakhtunkhwa (KP) government has announced a pioneering initiative to boost financial resources by issuing bonds through the stock exchange. This innovative strategy, introduced under the guidance of KP Finance Advisor Muzammil Aslam, aims to reduce reliance on external loans and donor agencies for developmental projects. The decision to issue education bonds highlights the province’s commitment to creating sustainable and localized financial solutions.

What Are Education Bonds?

Education bonds, as explained by the finance advisor, will specifically target the settlement of pension dues for universities. The initial pilot project, referred to as Khyber Pakhtunkhwa Bonds, is expected to raise between 3 to 4 billion, though it may begin with a smaller amount. This innovative step of finance represents a significant shift in the province’s approach to resource mobilization. Instead of navigating the complexities of external loans—often hindered by lengthy processes and exchange rate risks—KP plans to engage local donors through this bond program, ensuring faster and more sustainable financial solutions.

Implementation Steps

The KP government has outlined a comprehensive plan to ensure the success of this venture:

  1. Public Awareness Campaigns: Efforts are underway to educate potential investors about the bond program.
  2. Consultancy Services: A professional consultant is engaging to guide the project’s design and implementation.
  3. Testing and Feedback: A phased rollout will allow authorities to address any challenges during the initial phase.
  4. Engagement Activities: Roadshows and events have been organized in Karachi, Lahore, and Islamabad to showcase the project to investors and stakeholders.

Long-Term Goals

According to Muzammil Aslam, this initiative represents more than a one-off solution. It is the first step in creating a self-sufficient financial ecosystem for the province. By shifting focus toward local funding sources, KP can accelerate its development agenda while mitigating risks associated with external borrowing. Additionally, the province plans to extend this model to larger infrastructure and development projects in the future.

The Bigger Picture

For years, KP’s reliance on external loans has constrained its ability to undertake timely development work. This bond issuance strategy not only addresses immediate financial challenges but also establishes a new financial pathway for sustainable growth. As KP ventures into this uncharted territory, the results of this pilot project will be closely watched by other provinces and policymakers across Pakistan.

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SBP Amendment Bill Deferred in Pakistan
Finance & Banking

SBP Amendment Bill Deferred in Pakistan

by Muhammad Sajid
written by Muhammad Sajid

Cabinet Defers SBP Amendment Bill for Review: Concerns Over Dual National Appointments

Prime Minister Shehbaz Sharif has instructed the Cabinet Division to consult Minister of State for Finance, Ali Pervaiz Malik, on the SBP Amendment Bill. This decision comes after concerns raised by Malik when he felt excluded from discussions about the proposal to amend the State Bank of Pakistan (SBP) Act. The government had initially planned to approve the bill. It will allow dual nationals to hold top positions at the central bank.

The finance ministry’s proposal included several key changes to the SBP Act. Most notably, it suggested lifting the restriction on dual nationals serving as the governor, deputy governor, or directors of the SBP. Currently, Section 13 of the SBP Act disqualifies dual nationals from these roles. The finance ministry argued that such a change would help bring in expertise from the global pool of talent.

The federal cabinet deferred the SBP Amendment Bill after Malik raised concerns about being left out of discussions. He argued that, as the finance minister’s representative, they should have consulted him before presenting any summaries to the cabinet. Prime Minister Shehbaz Sharif took immediate action and instructed the Cabinet Division to ensure Malik’s involvement in all future discussions on economic matters.

This amendment comes after previous changes to the SBP Act in 2022, influenced by the International Monetary Fund (IMF). Recommendations of IMF led to the restriction on dual nationals, but the IMF did not specifically advise banning them from top central bank roles. Some cabinet members have expressed concerns that dual nationals might return to their countries of origin after their tenure. while others argue that subject matter experts should be allowed to serve, regardless of nationality.

Finance Minister Muhammad Aurangzeb, who renounced his Dutch nationality to serve in the current government, supported the idea of allowing dual nationals to serve at the SBP. He argued that allowing such individuals to hold positions would help attract the necessary expertise for the country’s economic growth.

The government is particularly keen on reappointing Dr. Inayat Husain, a dual national who recently completed his term as deputy governor. Dr. Husain, along with Dr. Saeed Ahmad, a former IMF adviser, are the leading candidates for two vacant deputy governor positions. However, their dual nationalities may present an issue under the current law.

The cabinet has decided to set up a committee to review the proposed changes before bringing them back for approval. Once the committee has completed its review, the government expects to finalize the bill. The proposed amendments could have a significant impact on the country’s financial and economic policies.

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Gold Price Dropped Rs274,500/Tola as Pakistani Rupee Strengthens
BusinessFinance & BankingStock Exchange

Gold Price Dropped Rs274,500/Tola as Pakistani Rupee Strengthens

by Muhammad Sajid
written by Muhammad Sajid

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 index, up 0.5%, made bullion pricier for international buyers, reflecting notable gold market trends.

Adnan Agar, Director of Interactive Commodities, explained these gold price changes are within expected ranges. He noted the absence of major market events, with US employment data in November likely to impact future trends. Holiday season trading activity might also pick up by January, adding momentum to gold market trends.

The Pakistani rupee showed slight appreciation, gaining 0.03% to close at 277.97 against the US dollar on Monday. This minor recovery follows a dip below 278 last week, marking the first in over 10 weeks. Malik Bostan, Chairman of the Forex Association of Pakistan, attributed this rupee appreciation to improved political stability and growing confidence in the Pakistani rupee exchange rate. He predicted the rupee could stabilize further, potentially nearing 250.

Economic indicators in Pakistan also showed improvement in November 2024. The trade deficit Pakistan faced narrowed by 19% year-on-year (YoY) to $1.6 billion. Exports grew by 9% YoY to $2.8 billion, although they fell by 6% month-on-month (MoM). Imports decreased by 3% YoY and 4% MoM, reaching $4.4 billion. Over the first five months of FY25, the trade deficit Pakistan recorded shrank by 7% YoY to $8.7 billion.

Inflation in Pakistan significantly improved, hitting a 79-month low of 4.9% YoY in November 2024. This was a sharp drop from 29.23% in November 2023, the lowest rate since April 2018. The Consumer Price Index (CPI) also declined to 4.9% in November from 7.2% in October. For the first five months of FY25, average inflation in Pakistan stood at 7.88%, compared to 28.62% during the same period last year.

These positive trends signal recovery in Pakistan’s economy. Experts suggest that a stable Pakistani rupee exchange rate, reduced trade deficit Pakistan metrics, and lower inflation in Pakistan could boost economic confidence further in the coming months.

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Pakistan Stock Exchange
BusinessFinance & Banking

Pakistan Stock Exchange Hits Record High

by Muhammad Sajid
written by Muhammad Sajid

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 day was 101,921.20 points. Trading volume was high, with 345,041,632 shares traded. The total value of the trades reached 11,381,780,782 PKR.

This rise continues the market’s positive trend. The Pakistan Stock Exchange has been performing well for weeks. The KSE-100 index is now comfortably above the 102,000-point level. Analysts say that investor confidence is strong. Favorable economic signals are also helping the market grow. The stock market’s strong performance is good news for the broader economy.

Last week, the PSX surpassed the 100,000-point mark. It closed at 101,357 points, up by 3.6%. Earlier in the week, the market faced challenges. Political unrest caused a drop of 3,500 points. However, things changed when the Pakistan Tehreek-e-Insaf (PTI) canceled protests. The market quickly recovered. The banking sector led the recovery after the minimum deposit rate (MDR) for conventional banks was removed. Inflation expectations also eased.

Despite foreign selling of $15 million, local investors kept the market strong. Mutual funds and insurance companies bought many shares. Positive economic indicators helped the rally. Government bond yields dropped by 61 to 85 basis points. The government raised Rs616 billion in a T-bills auction, short of the Rs800 billion target. This boosted market sentiment.

Auto financing grew, and the country’s foreign currency reserves increased. A $500 million loan from the Asian Development Bank (ADB) helped boost reserves. Investor sentiment is high, which is expected to keep the KSE-100 index strong next week.

Weekly Market Movement

At the start of the week, the Pakistan Stock Exchange hit a new high of 98,080 points, gaining 280 points. Strong interest in the banking sector and easing political tensions drove this rise. The next day, the market faced its biggest single-day drop, falling 3,506 points (3.57%) due to political instability fears. On Wednesday, the PSX made a remarkable recovery, rising nearly 4,700 points—the biggest single-day rebound in its history.

The market crossed the 100,000-point milestone the following day. Analysts say the rally was due to better investor sentiment. Lower interest rates and reduced inflation made stocks more attractive. On Friday, the market surged almost 1,300 points, reaching over 101,000 points. This rise was led by gains in the oil, banking, and pharmaceutical sectors. The KSE-100 index closed at 101,357 points, up 3.64% for the week.

JS Global analyst Abdul Basit said the bullish trend continued. The slight drop earlier in the week was offset by the strong recovery after PTI canceled protests. Trading volumes were slightly down by 1% to 979 million shares. Foreign selling was $15 million, but local buying by mutual funds and insurance companies kept the momentum.

Basit also mentioned that changes in the banking sector, especially the MDR changes, kept bank stocks active. In the recent T-bills auction, the government raised Rs616 billion, and yields dropped by 61-85 basis points across different terms.

Auto financing recovered, reaching Rs236 billion in October 2024, up 3.7% from the previous month. The State Bank of Pakistan’s foreign currency reserves increased by $131 million to $11.4 billion. An additional $500 million from the ADB’s climate financing program is expected to boost reserves next week.

AHL Research noted that lower inflation and a strong rally in commercial banks drove the PSX’s recovery. The Pakistani rupee slightly depreciated by 0.10% to Rs278.04 against the US dollar.

Sector and Stock Highlights

Several sectors contributed to the rise:

  • Commercial Banks: +1,676 points
  • Technology and Communication: +349 points
  • Oil and Gas Exploration: +284 points
  • Oil and Gas Marketing: +260 points
  • Cement: +234 points

Top individual stocks included:

  • Habib Bank Ltd: +694 points
  • Bank AL Habib: +538 points
  • Pakistan Petroleum: +274 points
  • Systems Ltd: +255 points
  • Bank Alfalah: +205 points

AHL Research forecasts that the market will likely keep its positive trend next week. They expect inflation to drop further, with November projections at 4.7%. Some stocks are trading at attractive prices, attracting more investors.

Foreign selling for the week totaled $15.1 million. This is an improvement from the previous week’s net selling of $32.9 million.

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Mini Budget
BusinessFinance & BankingWorld

IMF Tells Pakistan to Cut Spending or Raise Taxes with Mini-Budget

by danish
written by danish

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 extended loan program, which was set up to support the country’s economic recovery and prevent financial instability.

A mini-budget would involve raising additional taxes or reducing subsidies, which could increase costs for citizens. For example, taxes on goods or services could be increased, or government subsidies on fuel or food might be reduced. On the other hand, if the government chooses to cut spending, it may reduce funding for certain public programs and services. These measures are part of the IMF’s strategy to help Pakistan reduce its debt and keep inflation in check. However, both options could have challenging consequences for the public, especially for low- and middle-income households already dealing with high living costs.

Past experiences with austerity measures in Pakistan have often been met with public resistance, as such policies tend to put extra financial pressure on everyday citizens. However, these steps may be necessary to keep the IMF’s support flowing, as the international body has set strict benchmarks that Pakistan must meet to continue receiving loan installments. The funds from the IMF are essential for Pakistan to handle its current financial challenges and meet debt repayment obligations.

The government now faces a tough choice: either implement a mini-budget, which may increase taxes, or reduce public spending. While these moves may be difficult for many citizens, they are aimed at improving Pakistan’s financial stability and economic health in the long run. The final decision, and its impact on the people, will unfold in the coming weeks as the government considers its options.

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Tax Dispute Resolution IHC Halts FBR Recovery
BusinessFinance & Banking

Tax Dispute Resolution: IHC Halts FBR Recovery

by danish
written by danish

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 has sought relief under the ADR formula. ADR offers a structured alternative to traditional court litigation, allowing businesses to negotiate their tax liabilities directly with the FBR. The goal is to reach a fair settlement without enduring prolonged legal battles. However, Askari Bank’s appeal to the IHC suggests there were disagreements regarding tax amounts owed or terms of settlement, causing bank to challenge FBR’s actions.

The IHC’s decision to pause the FBR’s tax recovery highlights the need for fair tax dispute resolution. The ruling stresses that authorities should not rush or settle tax disputes unfairly. This is especially true when ADR is ongoing. By halting the recovery actions, the IHC allows for more discussions. It reinforces the principles of fair treatment during the dispute process.

This case could have broader implications for Pakistan’s banking and business sectors, especially in how the FBR approaches tax recoveries when disputes remain unresolved. Should the IHC rule in favor of Askari Bank? it could set an important precedent, showing that businesses have a right to fair treatment while negotiating tax settlements. Conversely, if the FBR prevails, it could reaffirm the board’s stance on aggressive tax recovery.

Ultimately, the IHC’s intervention underscores the importance of establishing clear and fair guidelines for tax dispute resolution through ADR. This ruling gives Pakistan the opportunity to refine its approach to handling tax disputes, ensuring businesses have a fair chance to resolve their obligations without undue pressure. The outcome will not only influence the relationship between the FBR and businesses but also shape the future of ADR processes within the country’s taxation system.

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Interbank Dollar Rate
Finance & Banking

Interbank Dollar Rate Rises to PKR 277.85, Open Market Rate at PKR 278.78

by admin
written by admin

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 rupees at the end of September.

Meanwhile, in the open market, the dollar’s rate has risen by 6 paisa, reaching 278.78 rupees. In October, however, the dollar has decreased by 1 rupee and 16 paisa in the open market.

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