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Govt scrambles for consensus as provinces baulk at PSDP allocations
Some provincial projects have been included in the revised federal PSDP portfolio.
Rupee sinks further in open market
The dollar attracts a record high price of Rs119.50.
As budget looms, tax plan still under debate
Three major taxes can face the axe, no replacement is in sight.
Rs5m fine imposed on Reliance Paints
The CCP’s inquiry finds Reliance Paints was in an agreement with its dealers to maintain the resale price.
Cement pulls index down after two-day rally
The rout in the cement and banking sectors in late hours pull the index down by intraday low of 195 points.
‘Structural flaws exist in management of public money’
Around Rs1.8tr belonging to various ministries, state institutions, etc is parked in banks, secretary finance tells PAC.
World Bank urged to schedule talks on water dispute with India
Islamabad believes that Kishanganga and Ratle plants violate the Indus Water Treaty.
Third-tier tax regime on cigarettes likely to go
The current federal excise duty should be reverted back to the old two tier structure, NA body recommends.
MCB Bank quarterly profit dip 22.3pc
The bank declares first interim cash dividend of Rs4 per share for the three months period ended March 31, 2018.
Boeing cruises past forecasts as margins, sales grow
“We’re not seeing anything there that’s a material effect right now,” Chief Executive Officer Dennis Muilenburg says.
BULLION RATES
| City | Gold (24-ct) | Silver |
|---|---|---|
| Karachi | 51,042 | 668.57 |
| Multan | 50,240 | 694.00 |
EXCHANGE RATES
Exchange Rates for Currency Notes
| Countries | Selling (Rs.) | Buying (Rs.) |
|---|---|---|
| U.S.A. | 118.50 | 118.90 |
| U.K. | 165.00166.0 | - |
| Euro | 144.30145.3 | - |
| Japan | 1.0600 | 1.0900 |
| Saudi Arabia | 31.55 | 31.75 |
| U.A.E. | 32.25 | 32.45 |
Highlights
Aurora
Business & Finance
What to watch out for in the next budget
PML-N government will present its sixth federal budget that will become operational in the next financial year.
Experts predict the next budget
The budgetary process has tended to go out of control in recent months.
Poll concerns will drive policymakers
The upcoming budget’s philosophy is based on four objectives: ....
Bank borrowings fall by 19.09pc
Deposits decline by 2.29pc; total assets lower by 3.89pc
Rupee hits Rs117 against dollar
The rupee in the open market came under pressure as an rise in dollar demand dragged the rupee value to historic lows