Amjad Lodhi, who owns a car rental company, bought a Toyota Corolla in 2019 for around Rs2.5 million. Having paid off the amount in three-year instalments, he recently sold it for Rs3m, a cool Rs500,000 more than the original price. But he doesn’t seem satisfied. Reason: the sticker price has now crossed Rs5m. This is partly why people want to sell their old vehicles at higher prices. They want
Pakistan is expected to finally exit the ‘increased monitoring list’ — commonly known as grey list — of the Financial Action Task Force (FATF) on Oct 21, after languishing in the infamous category for almost 52 months. “The first FATF Plenary under the two-year Singapore Presidency of T. Raja Kumar will take place on October 20-21, 2022,” said the Paris-based global watchdog on dirty money. Del
The pound jumped more than two per cent against the dollar Monday as Britain’s fourth finance minister in as many months sensationally ripped up a tax-cutting budget that had spooked markets. Chancellor of the Exchequer Jeremy Hunt tore up the fiscal policy unveiled by the new government of Prime Minister Liz Truss last month. Monday’s reversals also lifted London’s benchmark FTSE 100 shares
A syndicate led by the Bank of Punjab (BOP) has raised over Rs10 billion for Thar Energy Ltd (TEL) for working capital financing, a press release said on Monday. In this regard, a financing-document signing ceremony was held at the bank’s corporate office to mark the closure of the first tranche of the facility. The ceremony was attended by the Hub Power Company Ltd (Hubco) CEO Kamran Kamal, TE
A day after opposition Pakistan Tehreek-i-Insaf won six out of eight seats it had vacated, an urgently called virtual meeting of the Economic Coordination Committee (ECC) of the federal cabinet approved a supplementary grant of Rs17 billion to increase discretionary spending on development schemes of parliamentarian to a record Rs87bn. The meeting, which was presided over by Finance Minister I