Uncertainty loomed over the Pakistan Stock Exchange (PSX) on Tuesday as investors grappled with pre-budget concerns and reports about the International Monetary Fund (IMF) seeking an additional Rs1.3 trillion in taxes under a new loan programme. In the morning, trading began with a sharp dip as the KSE-100 index dived to around 72,700 points. However, it managed to rebound quickly and wipe out
Pakistani currency bounced back on Tuesday and appreciated Rs0.12 to Rs278.12 against the US dollar in the inter-bank market after a visiting Saudi business delegation signed investment agreements of billions of dollars. According to the State Bank of Pakistan’s data, the rupee had closed at Rs278.24 on Monday. The local currency has gained 10.42%, or almost Rs29, in the past eight months si
Citi Pharma Limited, the leading manufacturer of Paracetamol in Pakistan, has announced its venture into a joint partnership with a renowned Chinese firm. The objective is to locally produce 30 ingredients for medicines, aiming to reduce imports by approximately Rs10-15 billion annually. The company plans to establish a new production line, with an estimated investment ranging from Rs15-20 bill
Finance Minister Senator Muhammad Aurangzeb highlighted on Tuesday that the economic indicators of the country were moving in a positive direction, significantly boosting the confidence of foreign investors in Pakistan’s economic governance. He highlighted that investors from the European Union, the United States, and Saudi Arabia had visited Pakistan, engaging in ongoing discussions. This stat
ISLAMABAD: An inquiry committee has attributed the failure and flawed awarding of a Rs25 billion contract, aimed at monitoring the production activities of companies three years ago, to the project director and two former chairmen of the Federal Board of Revenue (FBR). Chaired by Secretary Finance Imdad Ullah Bosal, the committee presented its findings to Prime Minister Shehbaz Sharif on Tuesda