Despite a slight improvement in its value, the rupee looked shaky against the US dollar on Monday, according to currency dealers in the inter-bank market. The dollar shed its weight by Rs1.28. The closing price of the greenback, as reported by the State Bank, fell to Rs275.30 from Rs276.58 the previous day. Currency dealers said there was no solid reason behind the rupee’s improved showing.
Amid an uncertain vehicle delivery situation, Honda Atlas Cars Ltd (HACL) on Monday again raised prices of various models by Rs260,000-550,000 in less than two weeks. Some 12 days back, HACL had increased the rate by Rs300,000-550,000 due to the rupee devaluation, uncertain economic conditions and high inflation. Dealers of various assemblers offer a different schedule for the delivery of ve
Consumers must brace for another hike in electricity tariff as the government was left with no other option but to receive additional payment from consumers to retire the power sector debt hovering at Rs1,000bn. This will be in addition to a slew of other measures, including removal of subsidies and other adjustments, to retire the debt. The move is part of the government’s actions to meet prec
The Supreme Court on Monday modified an interim order of the Lahore High Court (LHC) and directed wealthy taxpayers to deposit their 50 per cent due super tax directly with the Federal Board of Revenue (FBR) within one week. A three-member bench, headed by Chief Justice of Pakistan Umar Ata Bandial, took up the FBR plea against the impugned interim order which had stayed the recovery proceeding
Ishaq Dar’s boastful comeback has deepened Pakistan’s economic turmoil. In a fairly short stint, Mr Dar has not only worsened his party’s political prospects but has also brought Pakistan on the verge of defaulting on external debt despite taking over the baton after Pakistan secured the International Monetary Fund (IMF)’s clubbed seventh and eighth tranches. Finding himself short on time and a