The status quo in the SBP policy rate against the market expectation of a cut disappointed investors who resorted to profit-selling, dragging the index below the 71,000 level in the outgoing volatile week. Arif Habib Ltd (AHL) said the index experienced persistent pressure throughout the week as the market anticipated a rate cut, which ultimately remained unchanged at 22 per cent. On the econom
Pakistan is a challenging location for workers who are the backbone of the economy. Despite the International Labour Organisation (ILO) estimating a living wage of Rs60,000 to 65,000, they typically earn only a fraction of this amount. Workers face life-threatening risks in factories, agriculture fields, construction sites and mines, and if they are fortunate enough to secure employment in an o
The Federal Board of Revenue’s (FBR) recent decision to block the mobile SIMs of 506,671 individuals who failed to file their tax returns for 2023 as a penalty is a controversial move that telecom operators may challenge in courts. It is yet another example of using diktat to expand the tax net and improve tax collection instead of introducing systemic reforms based on best international practices
Noting the importance of long-standing strategic and economic relations between Pakistan and Saudi Arabia, Deputy Prime Minister and Foreign Minister Ishaq Dar and Saudi Foreign Minister Prince Faisal bin Farhan Al Saud reaffirmed the resolve to further enhance economic cooperation and Saudi investments in Pakistan. Mr Dar held a meeting with the Saudi foreign minister on the sidelines of the 1
The oil and gas exploration companies have warned the government that their financial default was eminent as the outstanding amount against the state has almost reached Rs1.5 trillion. The Pakistan Petroleum Exploration and Production Companies Association (PPEPCA) has written to Petroleum Minister Musadik Malik stating that the upstream oil and gas sector is in a critical situation. “Our in