Bulls dominated the trading floor on Thursday as shares gained over 800 points, which analysts attributed to “clarity on the formation of the new government” and the swearing-in of MNAs. According to the PSX website, the KSE-100 index gained 873.38, or 1.37 per cent, to stand at 64,576.82 at 11:43am from the previous close of 63,703.44 points. The benchmark index sustained its gains througho
UNITED NATIONS: The United States (US) supports Pakistan’s efforts to “break free” from the vicious cycle of debt and financing, a State Department spokesperson has said, urging the new government to continue working with the International Monetary Fund (IMF) and other global financial institutions. “Pakistan’s new government must immediately prioritise the economic situation because the pol
ISLAMABAD: An implementation committee on Diamer Bhasha and Mohmand Dams, constituted by the Supreme Court of Pakistan, met on Thursday to review progress on land acquisition and resettlement of locals from project sites. The committee met at the request of the sub-committee on land acquisition and resettlement relating to Diamer Bhasha Dam. Water and Power Development Authority (Wapda) Chairma
ISLAMABAD: The interim government has failed to broaden the tax base, with the number of income tax return filers shrinking 35% to just under 3.9 million compared to last year, amid challenges to achieve monthly tax collection targets. The caretaker government, whose rule has now effectively ended with the oath of the new National Assembly, also remained unable to tax retailers, neither was
KARACHI: The Sindh government is collaborating with the World Bank to set up renewable energy projects in solar and wind equipment, aiming to protect the environment from greenhouse gases and Pakistan from recurrent natural disasters. Speaking at a seminar titled ‘Significance of Renewable for Karachi & Export Industry: Cost of Inaction’, Director of Alternative Energy for the Sindh Government,