Shares at Pakistan Stock Exchange (PSX) traded in the red on Monday, shedding nearly 200 points. The benchmark KSE-100 index plunged 730.69 points, or 0.9 per cent, to stand at 80,561.44 points from the previous close of 81,292.13 points at 1:23pm. The index closed at 81,114.20, down by 177.93 points, from the previous close. Awais Ashraf, director research at AKD Securities, noted that the
THE government is desperate to increase its abysmally low tax collection to meet the stringent revenue conditions of the new $7bn funding programme approved by the IMF recently. In order to meet the tax target, the FBR has worked out a new compliance and enforcement plan, which primarily relies on punitive actions against tax evaders and cheaters. The authorities hope that it will compel existi
Over the last few weeks, local and international media have reported a “massive” oil and gas find in the offshore territory of Pakistan. According to some estimates, the find could be the “fourth largest” oil and gas reserve in the world. That would be a game-changer in more than one way. Today, Venezuela has the largest amount of oil reserves, with over 300 billion barrels of crude oil, follow
Pakistan’s domestic politico-judicial crisis has seemingly reached a point of no return. The apex court wants to keep the democratic spirit of the Constitution alive, but differences between the top judges continue to add to political uncertainty. The Election Commission, too, is apparently not independent. Simultaneously, terrorism and militancy continue to grow in Balochistan and Khyber Pakht
Cash-strapped Sri Lanka’s economy recorded falling consumer prices for the first time in 39 years, official data showed on Monday, with the September inflation figure dipping to negative 0.5 per cent. Census and Statistics Department data showed price drops in both food and non-food goods contributing to deflation in September, compared to inflation of 0.5pc in August. Sri Lanka last recorde