The Islamabad High Court (IHC) on Wednesday temporarily suspended a one-off 40 per cent tax imposed by the government earlier this month on bank profits reaped from foreign exchange transactions in the past two years. The court has suspended a statutory regulatory order (SRO) in this regard until Dec 8. According to the Prime Minister’s Office (PMO), the cabinet approved a proposal of the Fe
Pakistan has exported at least 125,000 cotton bales this season and the quantum is set to improve further during the current crop season. The cotton consignments are being destined for China, Vietnam and Indonesia and a significant point is that all these export deals have been clinched by only one cotton ginner from Sindh, Dr Jasso Mal, Dawn has learnt. It is hoped that a similar quantity o
The Senate Standing Committee on Finance on Wednesday regretted that the State Bank of Pakistan (SBP) had shared insufficient information on over Rs70bn established trade-based money laundering through the import of solar panels and ordered immediate payment to teachers their salaries pending since the start of the current fiscal year. Senator Saleem Mandviwalla, who presided over the meeting,
The benchmark of major shares galloped higher on Tuesday, crossing the psychological barrier of 60,000 points for the first time in history. Speaking to Dawn, Topline Securities Ltd CEO Mohammed Sohail said the rally in stock prices witnessed since the beginning of 2023-24 has been one of the fastest in the last two decades. One of the key reasons for the steep rise in share prices is unusua
The benchmark index of the Pakistan Stock Exchange (PSX) continued its bullish run on Tuesday to cross the 60,000 barrier in a record high. At closing, the KSE-100 index’s trade volume increased by 918.92 points, or 1.54 per cent, standing at 60,730.26 from the previous close of 59,811.34. The index reached a high point of 60,845.60 points at 3:30pm, while the lowest was 60,023.8 around 9am.