Gold prices dropped significantly on Friday, mirroring a decline in international rates, and settled at Rs277,800 per tola with a decrease of Rs5,000. Similarly, the price for 10-gram gold fell Rs4,286 to Rs238,169, as per the rates provided by the All Pakistan Sarafa Gems and Jewellers Association (APSGJA). The drop followed an increase of Rs2,300 per tola on Thursday. Meanwhile, the intern
Oil and Gas Development Company (OGDC) on Friday announced a significant gas and condensate discovery in the Samanasuk Formation exploratory zone. The discovery was made at the Bettani-02 (Slant) well in the Wali Block, located in the Lakki Marwat district of Khyber-Pakhtunkhwa. OGDC is the operator of the Wali exploration licence with a 100% working interest. The Bettani-02 well was drilled
The two biggest economies of the world – the US and China – should resolve their disputes amicably so that the global economy may not suffer and developing economies are not forced to bear the burden of trade-cum-tech war. Any protectionist approach from the US will not benefit the world. The US has to blame itself for the tit-for-tat actions taken by China recently as the trade war seems to be
Remittances have proved to be the most important stabilising variable for Pakistan's economy in the recent past. It is one of those indicators that has shown considerable and sustainable progress in the last few years, so much so that now these inflows have snatched the limelight from exports. This is a major shift in the economic structure of the country. This year, Pakistan's remittances are
People do not work to pay taxes. People work to earn an after-tax income. What that after-tax income is in each case, and how it is related to reported income and work efforts, is often far from obvious. Tax rates or retention rates are conceptually quite different. Grasping the difference is the key to understanding the ways in which taxes change economic behaviour and outcomes. When tax ra