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PSX closes red despite late recovery
KSE-100 index loses 91 points to close at 45,388.
Dollar soars to Rs117 in open market
"Demand for dollar is high as undeclared money is being invested in the US currency,” says official.
War of words intensifies between K-Electric, SSGC
Despite being publicly listed, both firms question the other's accounting standards.
Twin deficits worry government as budget approaches
Fiscal deficit for the current year is estimated at 5.5pc of GDP — higher than the budgeted target of 4.1pc.
Agriculture package on the cards in 2018 budget
Government is considering to exempt sales tax on import of agriculture machinery in upcoming budget.
Tax bar hails amnesty scheme
Tax consultants and practitioners believe it will receive an “overwhelming response from home and abroad"
KP businessmen to challenge RLNG levy in court
SCCI chief fears move to cause further flight of capital, closure of industries in province.
PSX in the red again as KSE-100 index loses 323 points
The cement sector dominated trading with 18.6m shares traded.
Govt aims for large hike in current expenditures in its last budget
Development spending to be cut, focus on salaries, defence, subsidies and debt service in 2018-19.
Rs474bn approved for Bhasha dam
The Ecnec meeting, chaired by Prime Minister Shahid Khaqan Abbasi, approved the much-awaited funding for the project.
BULLION RATES
| City | Gold (24-ct) | Silver |
|---|---|---|
| Karachi | 51,428 | 668.00 |
| Multan | 50,240 | 668.00 |
EXCHANGE RATES
Exchange Rates for Currency Notes
| Countries | Selling (Rs.) | Buying (Rs.) |
|---|---|---|
| U.S.A. | 116.70 | 117.00 |
| U.K. | 165.50 | 166.50 |
| Euro | 143.80 | 144.80 |
| Japan | 1.0700 | 1.1000 |
| Saudi Arabia | 31.05 | 31.20 |
| U.A.E. | 31.80 | 31.95 |
Highlights
Aurora
Business & Finance
Growth is an illusion for textile millers
"How can the govt proclamations of progress convince me when I had to lock down my plant and fire thousands of workers?"
On the path to development
Pakistan’s economy has accomplished a decent growth rate of 5.79pc — highest in 13 years.
PSO fuels the retail sector
PSO derives a great chunk of its profits from 1.2bn non-oil retail transactions at its store network.
Stock exchange decries exorbitant tax on corporates
If the economy managers expected to generate huge sums in tax, the effect of multiple taxation has been the opposite.
Bank investments plunge 12pc
Total assets of all schedule banks fall by 1.9pc during the outgoing week