Amid growing prospects of realising Saudi investment in diversified sectors, the stock market on Monday turned in another record-breaking session in Ramazan, tossing the KSE 100-share index to an all-time high, closing above 69,500, though the volume fell day-on-day. Ahsan Mehanti of Arif Habib Corporation told Dawn that Saudi Arabia’s commitment to fast-track the initial tranche of $5 billion
IN recent years, Pakistan’s fiscal situation has deteriorated significantly due to persistently low tax revenue collection and burgeoning public expenditure. This has led to large budget deficits year after year, while a massive debt has been accumulated in the attempt to plug the gap. The situation has had a spill-over effect on the external sector, as reflected in the recurrence of balance-of
Prime Minister Shehbaz Sharif and Crown Prince Mohammed bin Salman have agreed to expedite the first wave of a planned $5 billion Saudi investment package for Pakistan, according to the joint statement issued by both countries. The two leaders had held a meeting a day ago during the prime minister’s visit to Saudi Arabia in his first foreign trip since his election. In January last year, the
The Sindh Revenue Board (SRB) on Monday extended the deadline for e-deposit of sales tax and e-filing of returns for March 2024. According to a circular of SRB, the registered taxpayers will now e-deposit the amount of Sindh sales tax for the tax period March 2024 on or before April 18 in the Sindh government’s head of account. The date is extended to facilitate taxpayers who may need more t
Oil prices fell over a dollar a barrel on Monday after Israel reduced its troops in southern Gaza and began a fresh round of ceasefire talks with Hamas. Brent crude futures fell $1.07, or 1.2 per cent, to $90.10 a barrel by 1:26 p.m. ET (1726 GMT). US West Texas Intermediate crude was down 85 cents, or 1pc, at $86.06. Both benchmarks fell more than $2 earlier in the session, with investors f