The Overseas Investors Chamber of Commerce and Industry (OICCI) has approached the caretaker prime minister with a request to set up an overseas investors task force in collaboration with his office to attract more private sector-led foreign investment. The demand by the representative body of 200-plus multinational companies operating in the country comes on the heels of the establishment of t
Caretaker Prime Minister Anwaarul Haq Kakar on Thursday outlined the plan for tax reforms through digitisation and underscored the need to improve the tax collection for economic progress. The development came a day after the Federal Board of Revenue (FBR) assured the PM it would bring one million new taxpayers on the roll and 20,000 retailers to the Point-of-Sale (POS) system — a real-time mec
The rupee continued to gain strength on Thursday, rising by over Rs2 to the dollar in the interbank market and by Rs5 in the open market. During the last three sessions, the dollar has lost about Rs25 in the open market, whose rates have edged closer to the interbank market’s after a crackdown on hard-currency hoarders and smugglers. The State Bank of Pakistan (SBP) reported the rupee’s clos
Stakeholders expect a Rs5-7 per kg decline in wheat prices after a private sector consortium finalised a deal for the import of 700,000 tonnes of Russian and Romanian wheat which would arrive in 12 cargo ships. The first ship carrying 55,000 tonnes of Russian wheat would arrive at Karachi port on Sept 15. The second ship with 60,000 tonnes is expected to arrive in the third week of this month.
The benchmark of the stock market entered the green zone on Wednesday, thanks to a buying interest following a substantial improvement in the rupee’s value in the open market. Topline Securities said the local currency appreciated against the dollar by Rs10, bringing the total gain to Rs20 in just two days. According to Arif Habib Ltd, the standout share on Wednesday was Kot Addu Power Compa