Saudi Arabia and China were set to beef up Pakistan’s foreign exchange reserves much before the close of this month, Finance Minister Ishaq Dar said on Wednesday and announced that the government would be shortly imposing flood levy on the affluent and a significant gain tax on banks’ foreign exchange earnings to ramp up revenue. “Our foreign exchange reserves by end-June would be much better t
Share prices dropped on Tuesday as investors reacted to a high monthly inflation reading and the announcement of the federal government’s energy conservation plan. Defence Minister Khawaja Asif unveiled the plan that involves the closure of commercial markets by 8:30pm and wedding halls by 10pm. Topline Securities said the cement sector took a major hit during trading as Lucky Cement Ltd, D.
THE PDM government’s continuing inability to keep prices under control speaks volumes about the competency of its economic management team, currently led by a former finance minister who loves to make a great deal of his ‘extensive experience’. It has thus far failed to show any spine as far as the protection of ordinary citizens’ financial well-being is concerned. As a result, the public has l
The rate of consumer inflation shot back up to 24.5pc in Dec — after a temporary decline to 23.8pc in Nov — affecting the country’s rural population the most, as prices escalated by almost 29pc. The average six-month (July-December 2022) inflation increased to 25.02pc when compared to the same period in the previous year. It was more pronounced at about 28pc for rural areas — home to more than
As the price of chicken meat touched Rs650 per kilogramme on Tuesday, traders and poultry farmers warned that relative affordability of chicken may become a thing of the past, and soon it could become as pricey as beef in light of the feed crisis. They added the price could cross Rs800 per kg, almost equivalent to the red meat, as the live broiler chicken was being sold up to Rs370/kg in Islama