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Business

Pakistan sees 56% drop in car sales in first half of FY2023-24

11 Jan 2024

Pakistan sees 56% drop in car sales in first half of FY2023-24

The latest data from PAMA highlights a significant downturn in passenger car sales, plummeting to 30,662 units in 1HFY24.

30 new hybrid, 50 electric buses hit Karachi roads

10 Jan 2024

30 new hybrid, 50 electric buses hit Karachi roads

The new buses include 30 hybrid and 50 electric vehicles. With the addition of 80 new buses, the city's fleet now comprises 300 buses, including 18 Pink Buses.

Top 5 most expensive private jets in the world and their owners

9 Jan 2024

Top 5 most expensive private jets in the world and their owners

Hong Kong billionaire Joseph Lau owns the second most expensive private jet in the world

Good news for freelancers as Pakistan inks agreement with 'PayPal'

6 Jan 2024

Good news for freelancers as Pakistan inks agreement with 'PayPal'

The initiative will enable the channeling of remittances through PayPal via a third-party service within the country.

Pakistan Startup Fund to be launched on Jan 9, says IT minister

5 Jan 2024

Pakistan Startup Fund to be launched on Jan 9, says IT minister

According to Saif, Pakistani startups have attracted nearly $800 million in foreign investment during the last four years.

This SBP video will help you spot fake Rs1,000 note

5 Jan 2024

This SBP video will help you spot fake Rs1,000 note

Over the past two years, around 60-70 per cent of detected fake notes were of Rs1,000 denominations

Pakistan Railways unveils ‘Premium Lounge’ dining car

4 Jan 2024

Pakistan Railways unveils ‘Premium Lounge’ dining car

Former railways minister Khawaja Saad shared video of the dining car from his X account and lauded the authorities.

NEPRA hikes power tariff by Rs4.12 per unit

4 Jan 2024

NEPRA hikes power tariff by Rs4.12 per unit

This increase, attributed to fuel adjustment charges for November 2023, was outlined in a notification issued by NEPRA.

FBR collects record over Rs1 trillion tax in December 2023

1 Jan 2024

FBR collects record over Rs1 trillion tax in December 2023

According to the top tax collection body, Rs1,021 billion was collected in December 2023 and reached a net collection of Rs984 billion after adjusting refunds of Rs38 billion issued during the month.

96% clothing, shoe brands offer fake discounts to lure customers: CCP

1 Jan 2024

96% clothing, shoe brands offer fake discounts to lure customers: CCP

Nearly 96% of the outlets were found engaged in deceptive marketing practices

Petrol price likely to decrease by Rs0.98 per litre from January 1

30 Dec 2023

Petrol price likely to decrease by Rs0.98 per litre from January 1

The Oil and Gas Regulatory Authority (Ogra) will announce the new prices on December 31

'SUNWAI': SBP launches portal for customer complaints

29 Dec 2023

'SUNWAI': SBP launches portal for customer complaints

‘Sunwai’ would serve as a one-window operation for banking customers to register their complaints against Banks, Microfinance Banks (MFBs), and Development Financial Institutions (DFIs) operating in Pakistan.

L'Oréal heiress becomes first woman to achieve $100 billion fortune

29 Dec 2023

L'Oréal heiress becomes first woman to achieve $100 billion fortune

She is also an author of two books

Dubai Islamic Bank accused of 'stealing' depositors' Rs420mn in Karachi

28 Dec 2023

Dubai Islamic Bank accused of 'stealing' depositors' Rs420mn in Karachi

The staff and the branch manager in Karachi allegedly embezzled the amount using counterfeit signatures.

Govt likely to cut petrol price on New Year’s Eve

26 Dec 2023

Govt likely to cut petrol price on New Year’s Eve

Prime Minister Anwar-ul-Haq Kakar-led interim government has slashed the prices of petroleum products by over Rs60 in the last three months

FBR warns non-filers of suspension of bank accounts

25 Dec 2023

FBR warns non-filers of suspension of bank accounts

In more severe cases, non-filers may even encounter travel restrictions at airports and on motorways.

Auto financing shrinks on dismal demand in Pakistan

21 Dec 2023

Auto financing shrinks on dismal demand in Pakistan

Data released by the State Bank of Pakistan (SBP) revealed that the total drop in the last 17 months was Rs111bn. At the end of June 2022, the auto financing stood at Rs368bn.

Profit rates on most savings schemes slashed

21 Dec 2023

Profit rates on most savings schemes slashed

Interest rates on many savings products reduced to 160 basis points starting December 19

NEPRA raises electricity tariff by Rs1.15per unit

20 Dec 2023

NEPRA raises electricity tariff by Rs1.15per unit

The latest hike in the tariff would put an additional financial burden of Rs22.29 billion on the power consumers.

Pakistan Stock Exchange sheds over 2300 points

19 Dec 2023

Pakistan Stock Exchange sheds over 2300 points

PSX has now lost over 3,000 points in the past two days and continues to plunge as stakeholders (investors and politicians) question the legitimacy of the upcoming elections.

Petrol price decreased by over Rs60 in last three months

16 Dec 2023

Petrol price decreased by over Rs60 in last three months

The Petroleum Division issued a statement on the reduction in POL prices

Petrol price slashed by Rs14/ litre for next fortnight

15 Dec 2023

Petrol price slashed by Rs14/ litre for next fortnight

Caretaker Prime Minister Anwaar-ul-Haq Kakar approved the changes in the prices of petroleum products.

Christian community to get salaries, pensions before Christmas

15 Dec 2023

Christian community to get salaries, pensions before Christmas

The caretaker government will release salaries and pensions to the Christian community on December 20.

PTCL acquires Telenor Pakistan for Rs108bn

14 Dec 2023

PTCL acquires Telenor Pakistan for Rs108bn

The research firm estimated that PTCL will need to pay Rs19 billion in annual interest, assuming it borrows $380 million (Rs108 billion) at 18% (8% interest rate + 10% currency depreciation). This is much lower than Telenor’s EBITDA of Rs112 billion in the past year.

Property tax collection by Cantonment Boards declared illegal by SHC

14 Dec 2023

Property tax collection by Cantonment Boards declared illegal by SHC

The court suspended the execution of the decision for three days upon the request of the lawyer of the Cantonment Boards.

PSX crashes as KSE-100 Index loses 1,900 points

13 Dec 2023

PSX crashes as KSE-100 Index loses 1,900 points

The stock market recovered a bit later in the day.

SBP keeps interest rate unchanged at 22pc

12 Dec 2023

SBP keeps interest rate unchanged at 22pc

The decision factors in the impact of the recent increase in gas prices in November, which exceeded the monetary policy committee's (MPC) earlier expectations.

Caretaker govt aims to collect taxes from small shopkeepers

12 Dec 2023

Caretaker govt aims to collect taxes from small shopkeepers

FBR-determined shop valuations will be utilised for tax imposition

OGRA chairman hints at further hike in gas tariff

11 Dec 2023

OGRA chairman hints at further hike in gas tariff

Addressing a public hearing in Lahore, Khan noted that global gas prices were on the rise, and Pakistan might experience an increase in gas prices as well. Various stakeholders voiced their concerns during the hearing.

Petrol price likely to drop by Rs13 per litre

10 Dec 2023

Petrol price likely to drop by Rs13 per litre

Diesel rate is also expected to witness a drop of Rs15 per litre.

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