Despite clearly lacking quorum, the National Assembly after a lackluster debate on Monday passed the IMF-dictated Finance (Supplementary) Bill 2023, seeking to impose additional Rs170 billion taxes with minor amendments as Finance Minister Ishaq Dar held the mismanagement in the power sector and poor economic policies of the previous PTI regime mainly responsible for this economic burden on the ma
Share prices oscillated within a short range on Thursday before closing on the lower side owing to a sharp increase in the rates of petroleum products. Arif Habib Ltd said investors’ participation remained sluggish even though they sold shares in the last trading hour to book profits across the board. Other negative triggers for the index’s downward slide included a rise in the yields of gov
A sense of quiet despair hangs thick in the air. With Ramazan around the corner and Eid to follow right after, the inflation-weary citizenry must once again sit down for the depressing task of trimming their household budgets if they wish to continue to make ends meet. Even those who have been lucky to keep their heads above the water despite wave after wave of inflation will soon find it a challe
K2 Airways, an airline backed by United Arab Emirates-based Pakistani businessmen and professionals, is in the “final stages” of its launch, according to a press release issued by the company. The press release said that K2 Airways would be the country’s “first private airline to introduce Embraer E-Jets” in Pakistan’s commercial aviation. “The airline plans to serve specific domestic destin
Pakistan’s foreign exchange reserves held by the central bank rose by $276 million to $3.2 billion in the week ending on February 10, the State Bank of Pakistan (SBP) said on Thursday. According to the state bank, net foreign reserves held by commercial banks stood at $5.5bn, bringing the country’s total liquid foreign reserves to $8.7bn.Arif Habib Ltd calculated that the current reserves would