Trading in the privately placed Rs6.7 billion Islamic bond of K-Electric Ltd will commence on the Pakistan Stock Exchange on Friday (May 12). Also known as sukuk, the certificate will be traded through the Bond Automated Trading System (BATS) on the PSX and will be settled through the National Clearing Settlement System. The purpose of the issue is to fund the company’s routine operational a
The Federal Board of Revenue (FBR) has notified draft rules to facilitate the import of duty-free equipment for technological zones for 10 years. The new rules were notified through a notification SRO536, which will become final in case no objection is received from any quarter in 15 days. The rules cover the registration of zones, equipment import and retention period. Under the rules, the
Remittances being sent by overseas Pakistanis fell by 29.2 per cent in April compared to April 2022 while it declined by 13pc during the first 10 months of the current fiscal year. The State Bank of Pakistan reported on Wednesday that Pakistan received $2.21 billion in April against $3.124bn in the same month last year showing a decline of 29.2pc while dipped by 12.8pc when compared with $2.536
The US dollar appreciated to an all-time high against the rupee, rising by 1.8 per cent in the interbank market on Wednesday, apparently after the political situation deteriorated further. The State Bank reported the dollar price at Rs290.22 in the interbank market against the price of Rs284.87 a day before, an increase of Rs5.37, or 1.8pc. This was the highest dollar price in the banking ma
The government on Wednesday allowed the Pakistan International Airlines-Investment Ltd (PIA-IL) to sign an agreement with the New York City Government (NYCG) for the utilisation of Roosevelt Hotel on rental for three years after reaching a settlement deal with the hotel union. The decision was taken at a special meeting of the Economic Coordination Committee (ECC) of the Cabinet that also allow