Excessive government borrowing from the banking sector, indirect taxes, and the informal economy dilute the impact of tight monetary policy in controlling inflation, a senior official of the State Bank of Pakistan (SBP) said on Tuesday. Dr. Fayyaz Hussain, Additional Director, Monetary Policy Department, SBP, stated this in a webinar on the topic of ‘Managing Stability During Uncertain Times: R
The government has made over 35 major changes in the Finance Bill 2026 and amended Finance Bill to allow all Pakistani airlines to avail sales tax exemption on the import or lease of aircrafts and its parts from July 1, 2027. According to the amendments approved in the Finance Bill 2026 on Tuesday, a new entry in sales tax exemption schedule said, “Import or lease of aircrafts and parts thereof
The book-building phase of Select Technologies Limited’s Initial Public Offering (IPO) was oversubscribed by 3.2 times, with the issue fully subscribed at Rs34 per share, above the floor price of Rs28 per share, according to official transaction details. The company offered 66.67 million ordinary shares through the book-building process, attracting strong investor participation and reflecting r
The US dollar extended gains to reach a fresh 13-month high against a basket of major currencies on Wednesday as investors sought shelter from a tech stock sell-off and positioned for Fed rate hikes. A broad sell-off in technology and semiconductor shares has dragged global stocks lower as investors take profits on a long rally, sparking safe-haven demand for dollar and bonds. Meanwhile, e
Gold extended losses on Wednesday, as bets on US interest rate hikes lifted the dollar, while investors assessed conflicting signals on the US-Iran peace talks. Spot gold fell 0.5% to $4,087.68 per ounce by 0116 GMT, hitting its lowest level since June 11. U.S. gold futures for August delivery declined 1.1% to $4,105.40. The dollar hit a more than one-year high, making bullion more expen