Amid improvements in foreign exchange reserves, Pakistan has eased the outflow of profits and dividends, which surged by 112 per cent in the first five months of the current fiscal year (FY25). The latest data released by the State Bank on Wednesday showed that the profits outflow during July-November FY25 amounted to $1.129 billion, compared to $532 million during the same period of the pr
Karachi Port Trust (KPT) is set to award an important dredging contract to a bidder previously disqualified due to insufficient capacity, sources familiar with the development told Dawn on Wednesday. On July 14, the KPT invited bids for dredging 4 million cubic meters to maintain its navigation channel and the work was to be completed within 120 days. As bids were received from four internat
The government on Wednesday introduced a bill in the National Assembly aimed at granting tax authorities sweeping powers to enforce compliance with tax laws, including measures to prohibit the opening of bank accounts for non-compliant individuals, restrictions on their financial activities and the purchase of vehicles over 800cc, as well as the threat of sealing unregistered businesses. The Ta
Pakistan Stock Exchange (PSX) on Tuesday witnessed a bearish session, with the benchmark KSE-100 index experiencing significant swings, reaching the intra-day high of 869 points before plunging to the intra-day low of 2,480 points. By the close of trading, the index settled at 114,860.69, marking a decline of 1,308.72 points, or 1.13%. The downturn was attributed to a combination of factors inc
Gold prices dropped on Tuesday, reflecting a decline in international rates. In the local market, the price of gold per tola fell Rs2,100 to Rs274,900, according to data provided by the All Pakistan Gems and Jewellers Sarafa Association (APGJSA). Similarly, the price of 10-gram gold decreased Rs1,800 to Rs235,682. Internationally, bullion prices dropped $21 to $2,637 per ounce (inclusive of a $