March 28, 2024
Business

93,300 cusecs of water are released by IRSA

ISLAMABAD: On Friday, the Indus River System Authority (IRSA), with an input of 62,500 cusecs, discharged 93,300 cusecs of water from various rim stations. IRSA data showed that the River Indus at Tarbela Dam had a water level of 1518.01 feet, 120.01 feet above its dead level of 1,398 feet. The dam’s water input and […]

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Business

Gas supply to industries in Karachi is turned off by Sui Gas Company

Karachi’s gas issue appears to have gotten worse when the Sui Southern Gas Company Limited (SSGC) stopped supplying gas to various industries in the city.According to a statement from the gas company, “it has been decided to suspend gas supply to all general industries from November 15 to February 28, 2023.” This is in accordance […]

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Business

PKR is losing ground to the US Dollar in interbank

KARACHI: On the opening day of the week’s activity, the Pakistani rupee weakened against the US dollar and saw a new decline. Details show that the rupee fell by 11 paisas versus the dollar, which currently trades for roughly Rs217.65. The Pakistan Stock Exchange, on the other hand, experienced a drop. The KSE-100 index reached […]

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Business

Between July and October 2022, there was record-breaking drop in car sales

Despite increasing month over month in October, car sales fell 47% between July and October 2022, from 74,952 to 39,700, as a result of inflation, limits on auto financing, and high interest rates.Interestingly, the number of cars sold increased from 9,213 in September to 11,129 in October, which is still much behind the 17,413 sales […]

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Business

Interim CEO of Mitchell’s Fruits Farm has been appointed Najam Sethi

The Mitchell’s Fruit Farm Limited has appointed renowned journalist Najam Sethi as interim CEO. According to the stock filing, he will succeed Naila Bhatti, who left the company last month after two years of service. Since the beginning of 2020, Sethi has been the company’s chairman of the board of directors. He resigned from his […]

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Business

Despite the Iqbal Day holiday, FBR is open

The Federal Board of Revenue (FBR) Operations Wing Inland Revenue was open on Wednesday to monitor the IR revenue collection across Pakistan despite November 9 being a national holiday.Except for the FBR IR Operations Wing, which is led by Amjad Zubair Tiwana, the other parts of the FBR were closed on Wednesday. The room where […]

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Business

The rupee keeps winning versus the dollar

In the interbank market on Tuesday, the Pakistani rupee achieved a strong comeback versus the US dollar, leading to gains on the second working day of the week. Details indicate that as compared to the dollar, which was trading at roughly Rs220.5, the local currency increased by 39 paisa. Data from Pakistan’s central bank show […]

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Business

Against the US dollar, the rupee resumes its winning streak

KARACHI: With respect to the US dollar in interbank trading, the Pakistani rupee has once more resumed its winning streak. The dollar has dropped 41 paisa against the Pakistani rupee on the second day of trading. As of the current day, the dollar is trading at Rs220 in the interbank market after depreciating by 41 […]

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Business

The FBR collects more than Rs. 2 trillion in taxes in less than 4 months

The Federal Board of Revenue (FBR) hit yet another milestone on Monday when it collected Rs 2 trillion in taxes—a month earlier than the previous year. In a succinct board statement, Chairman FBR Asim Ahmad acknowledged his gratitude for the efforts made by the team. According to the release, he expressed confidence in attaining the […]

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Business

Dollar keeps gaining while facing PKR

KARACHI: Following a recent increase, the US dollar is gaining ground against the Pakistani rupee on Friday. Details indicate that the value of the local currency decreased by 10 paisa in relation to the US dollar, which is currently trading at Rs 221.5. As you may remember, the dollar’s value grew somewhat at the end […]

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