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Money laundering to be made non-bailable offence
Several laws are being amended through finance bill to meet FATF requirements.
Pakistan doubles its wheat contribution to Saarc food bank
Wheat quantum increased from 40,000 to 80,000 tonnes.
Auto anguish reaches Senate
Spare parts manufacturers point out large duty differentials with importers.
Negative net revenue impact in mini-budget, says finance ministry
Stockbrokers seem to be the biggest winners.
Pilot project to detect power theft through mobile phones launched
UK's GSMA is sponsoring the project by funding 200,000 pounds sterling.
Raising revenues essential to stabilise economy: IMF
"There is an immediate need to stabilise the economy," says IMF resident representative to Pakistan.
Non-food group contributes 93pc to inflation
Non-food inflation seems to have evaded the benefits of low food prices.
Auto sector to cut output as sales slump
Many blame the ban on sale to non-filers of tax returns.
Global FDI declined in 2018, says UNCTAD
Decline concentrated in developed countries, while FDI in developing countries remains resilient, finds monitor.
Rs3.5bn workers’ welfare fund released by Punjab govt
Punjab Minister for Labour and Human Resources Ansar Majeed Khan terms fund release a big achievement of his government.
EXCHANGE RATES
Exchange Rates for Currency Notes
| Countries | Selling (Rs.) | Buying (Rs.) |
|---|---|---|
| U.S.A. | 138.60 | 139.30 |
| U.K. | 178.80 | 179.80 |
| Euro | 157.80 | 158.80 |
| Japan | 1.2600 | 1.2900 |
| Saudi Arabia | 36.95 | 37.10 |
| U.A.E. | 38.00 | 38.15 |
Highlights
Aurora
BULLION RATES
| City | Gold (24-ct) | Silver |
|---|---|---|
| Karachi | 57,600 | 754.45 |
| Multan | 56,580 | 745.00 |
Business & Finance
Holding company to fix bleeding SOEs
The concept of forming a holding company has successfully been adapted in Malaysia and Singapore.
Time to set SBP’s objective straight
Evidence suggests SBP created excessive inflation, distortions in economy that hindered growth in the last 50 years.
Does disrupting the system of patronage affect growth?
PM Khan needs to instil confidence in business community but not through knee-jerk patronage initiatives: EFP president.
Higher manufacturing loans show the sector is struggling
In Pakistan, the government keeps switching gears from central bank borrowing to commercial bank borrowing.