The federal government has conditionally recommended a Rs465 billion provincial project, named Lahore-Bahawalnagar motorway, for approval in violation of the National Fiscal Pact and instructions of the Prime Minister's Office, as well as without securing funding and firming up design. The cost is Rs201 billion, or 76%, higher than the original price tag set two years ago, and the road project
A Think Tank - Prime Institute on Wednesday disclosed that taxpayers who have been manually filing the tax returns primarily due to lack of digital literacy or access of technology, are facing administrative issues. According to a paper of the said think tank, the government must ensure that all valid manual filings have been recognised. The Federal Board of Revenue (FBR) has denied the “Active
Oil prices gained slightly on Thursday, rebounding from two days of declines, as a larger-than-expected draw in U.S. crude inventories provided some impetus for investors to buy futures while they monitor developments in Venezuela. Brent crude futures climbed 38 cents, or 0.6%, to $60.34 a barrel by 0104 GMT, while U.S. West Texas Intermediate crude was at $56.36 a barrel, up 37 cents, or 0.7%.
The Pakistani rupee strengthened against the US dollar, appreciating 0.07% during the opening minutes of trading in the inter-bank market on Thursday. At 10am, the local currency was hovering at 279.85, a gain of Re0.21 against the greenback. On Wednesday, the local unit closed at 280.06. Internationally, the US dollar was calm on Thursday as investors weighed a slew of data that showed the
Gold prices dipped on Thursday, pressured by a firm dollar as investors geared up for a key jobs report later this week that could provide more hints on US monetary policy moves and while they assess the US pressure on Venezuela. Spot gold lost 0.3% to $4,440.67 per ounce as of 0344 GMT, dipping from an over one-week high hit in the last session. US gold futures for February delivery also fe