ISLAMABAD: Prime Minister Shehbaz Sharif, on Tuesday, directed the hiring of a foreign consultant to modernise the Federal Board of Revenue (FBR), indicating a departure from the previously approved restructuring plan. This decision emerged during the PM’s first comprehensive meeting on the administrative affairs of the FBR. The PM stressed the urgent need to engage international consultants and s
ISLAMABAD: The services’ exports in January contracted year-on-year for the third month during the current fiscal year, according to data compiled by the Pakistan Bureau of Statistics. The services exports fell to $677.96 million in January marking a 7.25 per cent decline from the $730.99m in the corresponding month last year. Contrary to this, merchandise exports reversed the trend and incr
ISLAMABAD: Pakistan’s Ambassador to the United Arab Emirates, Faisal Niaz Tirmizi, has invited UAE investors to invest in Pakistan’s real estate, energy, agriculture, information technology and various other sectors which offer immense business opportunities. Speaking at the Business Opportunities Conference in Dubai on Tuesday, Ambassador Tirmizi said the Pakistan government deeply encourages
WASHINGTON: Bitcoin soared to a new record high on Tuesday, fuelled by investors pouring money into US spot exchange-traded crypto products and the prospect that global interest rates may fall. The world’s largest cryptocurrency hit a high of $69,202, topping November 2021’s all-time peak of $68,999.99. Investor interest has increased since the Securities and Exchange Commission approved 11 spo
KARACHI: Hub Power Co Ltd (Hubco), the country’s largest private utility, expects power consumption in the country to fall again this year due to higher tariffs and tepid industrial activity, a top executive told Reuters. Power demand in Pakistan plunged last year by nearly a sixth and a decline in 2024 would mark the first time in 16 years that annual electricity use has fallen consecutively,