Russia, which chairs the Brics group this year, has called on its partners to create an alternative to the International Monetary Fund (IMF) to counter political pressure from Western nations ahead of the Brics summit later this month. Russian Finance Minister Anton Siluanov, who is hosting the meeting, said the global financial system is controlled by Western countries and that the group, whic
The Intelligence and Investigative Department of the Federal Board of Revenue (FBR) has detained five people engaged in the issue of fake and flying invoices, which caused billions of rupees in losses to the national exchequer. The top tax authority has intensified its crackdown on the organised mafia and beneficiaries involved in sales tax fraud in accordance with the FBR’s enforcement initiat
Pakistan Stock Exchange (PSX) made a marginal recovery in late trading on Friday as it crept up 30 points due to a strong earnings outlook for banking and auto sectors. Earlier, trading got off to a positive start, with the KSE-100 index reaching its intra-day high of 85,750.18 points. However, the early momentum petered out as the index slipped below the 85,000 mark, hitting the intra-day low
In contrast, silver prices remained stable in Pakistan, with no change in the price per tola, which stayed at Rs3,050. Similarly, the price for 10 grams of silver remained unchanged at Rs2,614.88. In the international bullion market, the price of gold surged by $16 per ounce, bringing the new global rate to $2,656 per ounce. Yesterday, the price of gold per tola surged by Rs2,700, reaching R
The economic freedom is the freedom available to the private citizens of a country to undertake businesses, and freedom to grow these businesses, including freedom to do trade domestically and internationally. While apparently we have this freedom (you can register a new business in a single day today, register with the Federal Board of Revenue (FBR) and open a bank account in a week and be in