Amid falling lending costs, auto financing increased by 2 per cent month-on-month and 12pc year-on-year to Rs263 billion in April. This was the fifth straight monthly rise. However, auto financing remains 28pc below its peak of Rs368bn in June 2022, observed Topline Securities Chief Executive Mohammed Sohail. The benchmark interest rate stands at 11pc after staying at an unprecedented level
All five refineries are now ready to initiate upgrade projects involving a $6 billion investment after the government addressed their key demand for clearance of their Rs34bn stuck-up funds through petroleum pricing. The chief executive officers (CEOs) on Tuesday had a meeting with Petroleum Minister Ali Pervaiz Malik to appreciate his proactive role in resolving almost a year-long problem hamp
Criticising the IMF-led gas disconnection of industrial captive power plants, the Oil and Gas Regulatory Authority (Ogra) on Tuesday determined about 6.6 per cent (Rs117 per unit) increase in prescribed natural gas prices to meet about Rs890 billion revenue requirement of the two gas companies during 2025-26. In a late-night determination sent to the federal government, Ogra worked out the aver
The Federal Board of Revenue plans to introduce digital tracking of freight vehicles to prevent sales tax evasion and curb smuggling. A high-level meeting chaired by Prime Minister Shehbaz Sharif on Tuesday was briefed on the digital monitoring system, which will be installed at major highways across the country. An official announcement said FBR Chairman Rashid Mahmood Langrial briefed the
Pakistan’s gross domestic product (GDP) and per capita income increased in dollar terms at a modest pace in 2024-25, reflecting a sustained recovery in the country’s overall output compared to the previous year, the government said on Tuesday. It was announced on Tuesday that the country’s economy is expected to grow by 2.68 per cent in the current fiscal year, a revision from earlier projectio