Pakistan Stock Exchange (PSX) ended its winning streak on Thursday and rapidly declined in a volatile session, driven by institutional profit-taking as uncertainty loomed over the government's tax reforms under the $7 billion International Monetary Fund (IMF) loan programme. Earlier, trading began on a robust note, with the KSE-100 index reaching its intra-day high of 82,905.73 points. However,
BF Biosciences has successfully raised Rs1.93 billion by selling 25 million shares at Rs77 each through a two-day Dutch auction that concluded at the Pakistan Stock Exchange (PSX) on Thursday. The funds will be utilised to acquire export certificates to boost sales in Central America, Africa, and Afghanistan, increase working capital, and add new products, it was learnt. The offering was oversu
Pakistani textile firms are reportedly receiving additional export orders from global buyers due to rising costs and political instability in competitor Bangladesh, along with international restrictions on China. As a result, the industry's exports hit a 26-month high of $1.64 billion in August 2024, marking a significant 13% increase compared to the same month last year. In a commentary titled
Federal Board of Revenue (FBR) Spokesperson Bakhtiar Muhammad announced on Thursday a nationwide initiative aimed at increasing tax compliance. The department will conduct seminars to educate taxpayers, and following this campaign, strict penalties will be imposed on those who fail to comply with tax regulations. Speaking to PTV News, he explained that through seminars, workshops, and media out
The International Monetary Fund (IMF) on Thursday distanced itself from Pakistan's decision to arrange the most expensive foreign commercial loan of $600 million and said that any such move was not linked to its requirement for securing approval for a $7 billion bailout package. "To our knowledge no commercial financing at 11% has been undertaken and if there is such it does not necessarily for