Yearly headline inflation hit 38 per cent in May 2023. This means that on average, the purchasing power of the rupee was down 38 per cent in May compared to May last year. If you have Rs138,000 now, you can buy only as many goods and services worth Rs100,000 a year ago. Or in other words, if you have Rs100,000 now, you can buy goods and services that were worth Rs62,000 a year earlier. Infla
Finance Minister Ishaq Dar has said the government will announce a welfare-oriented, pro-investment and business-friendly budget for the next fiscal year. The government would provide as much relief to the public as possible, he claimed talking to a private news channel on Sunday. He said the government was introducing long-term policies aimed at sustainable economic growth and achieving econom
Trade between Pakistan and Turkiye has the potential to reach $5 billion annually in the next three years, Prime Minister Shehbaz Sharif tweeted on Sunday, as he returned home after completing his two-day tour of Ankara. The prime minister said that in his meetings with heads of leading Turkish business groups, he highlighted the need for investment and trade in the agriculture, energy, informa
The government has finally leased out its precious asset in the United States —Roosevelt Hotel, a property of the Pakistan International Airlines (PIA) — to the New York City Administration for a period of three years against USD 220m. A contract has also been signed between the government and the NYC administration/government, according to Federal Minister for Railways and Aviation Khawaja Saa
The Pakistan Stock Exchange (PSX) witnessed a negative session on Wednesday, with the benchmark index of representative shares ceding ground to the bears by the end of trading. Arif Habib Ltd said the KSE-100 index hit an intraday low of 406.62 points following the market chatter about new tax measures in the upcoming budget. Investors decided to book profits after news reports emerged that the