While improving macroeconomic indicators in Pakistan offer some comfort, they have yet to meaningfully invigorate the private sector, the key driver of economic growth. Commercial activity has picked up, supported by the easing of import restrictions, and the capital market is performing beyond expectations. Nevertheless, business sentiment reportedly remains subdued. “Businesses in Pakistan mu
The Federal Board of Revenue (FBR) has decided to bar travellers coming from abroad from bringing any goods beyond $1,200 in value, it emerged on Monday. An FBR notification dated December 6, a copy of which is available with Dawn.com, proposed changes in the Baggage Rules, 2006, under Section 219 of the Customs Act, 1969. It changed the definition of “commercial quantity” in the rules from
Rates of profit on National Savings Schemes (NSS) have been revised with effect from Dec 10, reported Arif Habib Ltd on Monday. The government has reduced the profits on savings but the biggest cut was made on Savings Account by 250 basis points. The profit fell to 13.5pc from 16pc. The Regular Income profit was slightly reduced by 10bps to 12.1pc. However, the return on Serwa Islamic Saving
World oil prices jumped on Monday on fresh moves by China to boost its economy and as traders tracked an uncertain future for Syria and the wider crude-rich Middle East. Major stock markets diverged as investors reacted to political crises in South Korea and France, and tracked the perspectives for interest rate cuts. Gold, seen as a haven investment, gained around one per cent. “The week ha
Remittances sent by workers during the first five months (July-November) of the current fiscal year FY25 jumped 34 per cent, but fell last month compared to the preceding month. The latest data issued by the State Bank on Monday shows that remittances could reach the target of $35 billion set by the government for the current fiscal year. According to the State Bank, overseas Pakistanis sent