Gold prices in Pakistan witnessed a sharp increase on Monday, mirroring a global rally in the precious metal as a weaker US dollar and growing safe-haven demand pushed international prices higher ahead of a key policy decision by the US Federal Reserve later this week. According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold per tola rose by Rs7,800, reach
Beating the market expectations of a 50 basis points (bps) cut, the State Bank of Pakistan (SBP) has slashed the policy rate by 100 bps to 11%, effective May 6, 2025, reflecting easing inflationary pressures. However, the central bank has highlighted that the broader economic landscape remains fraught with challenges, including sluggish GDP growth, weak large-scale manufacturing, persistent fiscal
Industrialists, traders, and business leaders strongly criticised the State Bank of Pakistan's (SBP) decision during its Monetary Policy Committee (MPC) meeting to cut the interest rate by just 1%, urging swift reduction to single digits without any further delay. Karachi Chamber of Commerce and Industry (KCCI) President Muhammad Jawed Bilwani termed the State Bank of Pakistan (SBP)'s decision
The GSM Association (GSMA), a body of mobile operators, has called for reducing taxes and fees in the telecom industry in the upcoming budget 2025-26. In a letter to Federal IT Minister Shaza Fatima Khawaja, GSMA's Head of Public Policy and External Affairs for Asia Pacific, Jeanette Whyte, argued that lowering sector-specific taxes would make mobile services more affordable, particularly for l
The federal government on Monday reviewed the possibility of adjusting provincial reconciled outstanding electricity bills' dues against their shares under the National Finance Commission award, after limiting power sector losses to Rs221 billion, down by 40%. The Power Division shared the performance of the power distribution companies with the Economic Coordination Committee (ECC) of the Cabi