Lawmakers on Tuesday feared that money would fly out of Pakistan, economic growth would suffer and many jobs would be lost due to proposed restrictions on ineligible persons and the informal sector, but the government instantly dismissed such assertions. Members of the National Assembly Standing Committee on Finance described amendments to tax laws as "draconian", aggressive and tantamount to e
The range-bound Pakistani rupee experienced a relatively steep depreciation in the interbank market on Tuesday, falling by 0.06%. At the close of trading, the rupee settled at 278.82, recording a loss of 17 paisas compared to the previous day's closing rate of 278.65, as reported by the State Bank of Pakistan (SBP). The rupee's trajectory reveals significant trends since the currency first reac
Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb has invited global stakeholders to invest in Pakistan's priority sectors, including agriculture, IT, renewable energy, and pharmaceuticals. In an exclusive article published during the World Economic Forum (WEF) annual meeting, Aurangzeb outlined Pakistan's transformative economic journey. He highlighted efforts toward stabilis
Pakistan has achieved a remarkable progress in rice exports during the first half of the current fiscal year, recording a 19% increase despite facing significant global challenges. This surge in exports is likely to continue in the second half as well. According to official statistics, from July to December 2024, Pakistan exported 3.06 million tons of rice worth $1.87 billion, compared to 2.57
The Pakistan Engineering Company Limited (PECO) Board of Directors (BoD) has decided to issue shares to existing shareholders to raise Rs284.5 million to meet the company's funding requirements, blaming the former managing director (MD) for the current financial crisis. In a press statement and a notice to the Pakistan Stock Exchange (PSX), the board announced its decision for the rights issue