The government is considering handing over Pakistan Central Cotton Committee (PCCC), which conducts research to improve cotton quality, to the All Pakistan Textile Mills Association (Aptma). The committee is facing a financial crunch due to failure of textile millers to pay their dues. Millers are reluctant to pay cotton cess and in this regard they have filed lawsuits. Following this, the gove
Federal Minister for National Food Security and Research Rana Tanveer Hussain met with Turkish ambassador to discuss ways to enhance agricultural cooperation between Pakistan and Turkiye. The meeting focused on exploring new opportunities for partnership under the Strategic Economic Framework, with an emphasis on boosting agricultural trade and facilitating technology transfer. The federal m
A Senate panel on Thursday endorsed a proposed legislation that would lead to the closure of all bank accounts of non-filers having bank balances of over Rs1 million and would even bind filers to first explain the source for buying a home or a car. The Senate Standing Committee on Finance unanimously backed the Tax Laws Amendment Act 2024 with certain amendments to make the law more stringent.
The State Bank of Pakistan (SBP) injected Rs575.8 billion into the market through an open market operation (OMO) reverse repo purchase on Thursday. The SBP conducted the OMO reverse repo purchase (injection) for an eight-day tenor and accepted Rs575.8 billion offered through three bids to address short-term liquidity needs. The OMO received bids at rates ranging from 13.07% to 13.10%, with the
DisturÂbances on the western border and comments from a former US official about the opposition leader’s incarceration further fuelled panic-selling in the stock market, resulting in the benchmark KSE 100 index extended overnight losses. Topline Securities Ltd said the index experienced a steeper decline, closing the session at 110,423 points, down by 1,991 points or 1.77pc day-on-day. The mark