Pakistan's rupee has appreciated by around Rs2 against the US dollar since the Middle East war began, maintaining its strength despite rising energy costs, geopolitical uncertainty and higher global yields. The Pakistani rupee, extending its modest upward trend against the US dollar, gained 0.01% in the inter-bank market on Monday and closed at Rs276.97 per dollar. It was up three paisa from Fr
As winter is approaching, the struggle to keep kitchen stoves burning through cold months is set to carry a staggering price tag of $1 billion, fuelled by high costs of liquefied natural gas (LNG) imports from the open market triggered by the US-Israel-Iran war. Pakistan's government is set to import 10 LNG cargoes at double the price at which LNG is being imported from Qatar. These cargoes wil
The International Monetary Fund (IMF) has revised upward Pakistan's inflation forecast to 9.9% but kept economic growth unchanged at 3.5%, suggesting that it has not agreed to the government's projections of relatively low inflation and high economic growth for this fiscal year. The fresh figures have been released in the World Economic Outlook (WEO) report while the IMF's staff-level report wi
Ismail Suttar, Chairman of the Salt Manufacturers Association of Pakistan (SMAP), has called on the Federal Board of Revenue (FBR) to grant more time for the submission of income tax returns, pointing to ongoing technical glitches on the IRIS online filing system. He noted that many taxpayers are struggling to complete and lodge their returns because of repeated problems with the portal. He hig
Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb held a series of meetings and participated in key ministerial engagements on the sidelines of the Annual Meetings of the World Bank Group and the International Monetary Fund (IMF) in Bangkok, Thailand. The engagements focused on Pakistan’s macroeconomic stabilization, structural reforms, investment opportunities, climate financ