Business News | PSX | News Updates from Pakistan Economy

Value of US Dollar reduces against Pakistani Rupee

The United States Dollar (USD) registered a decline against the Pakistani Rupee (PKR) on Thursday with a decrease of Rs0.23 in value in the interbank market.

April 2, 2020
Published in Business

Coronavirus Crisis: Complete lockdown causing huge losses to traders

All Karachi Tajir Ittehad chairman Atiq Mir has said that complete lockdown is causing huge losses to the traders.

April 2, 2020
Published in Business

Oil price collapses to lowest level for 18 years amid the coronavirus pandemic

The price of oil has sunk to levels not seen since 2002 as demand for crude collapses amid the coronavirus pandemic.

March 30, 2020
Published in Business

ECC approves emergency fund to fight coronavirus

Adviser to Prime Minister on Finance and Revenue Abdul Hafeez Shaikh on Thursday chaired the meeting of Economic Coordination Committee (ECC) and approved an emergency fund to be established for tackling coronavirus outbreak.

March 26, 2020
Published in Business

World Bank and IMF call for suspending debt payment by developing countries

World Bank, IMF call for suspending debt payment by developing countries

World Bank and International Monetary Fund (IMF) have urged its bilateral creditors to suspend debt payments from International Development Association countries to help them combat the COVID-19 pandemic.

March 26, 2020
Published in Business

SBP slashes interest rate to 11% over 'considerable uncertainty' amid coronavirus pandemic

The State Bank of Pakistan on Tuesday announced yet another cut in the interest rate, this time slashing it by 1.5% to 11%, saying there was "considerable uncertainty" over the impact of the coronavirus pandemic.

March 24, 2020
Published in Business

State Bank of Pakistan directed all banks to provide disinfected cash to people

To Combat Coronavirus: SBP directs banks to provide disinfected cash to people

As part of preventive measures to contain the spread of novel coronavirus, the State Bank of Pakistan on Monday directed all the banks in the country to provide authenticated and disinfected currency notes to the…

March 24, 2020
Published in Business

US diesel cash prices latest to slump from coronavirus fallout

US ultra-low sulfur diesel was the latest product refined from crude oil to take a hit in its cash market last week, after refiners boosted production in a bid to flee poorer margins for other…

March 23, 2020
Published in Business

K-Electric rejects CM Sindh directives to waive off bills

The K-Electric refused the directives of Sindh Chief Minister Murad Ali Shah to waive off bills for citizens for the ongoing month and charge the dues as installments over the next 10 months as businesses…

March 23, 2020
Published in Business

Medical equipment to be exempted from taxes

The government has exempted import of 61 diagnostic support and personal protective equipment (PPEs) from all duties and taxes for a period of three months in order to reduce the rising prices in the domestic…

March 21, 2020
Published in Business

Govt promises full payment of refunds before month-end

The government on Friday promised full payment of refunds to exporters within the current month following complaints that export industries were facing liquidity crunch due to non-payment of rebates and tax refunds.

March 21, 2020
Published in Business

Pakistan reopens border with Afghanistan to allow food and essential goods

Pakistan on Saturday reopened its border with Afghanistan to allow the crossing over of trucks carrying food and essential goods under the Afghan Transit Trade, customs officials informed on Saturday.

March 21, 2020
Published in Business

To Combat Coronavirus: FBR exempts health safety items from taxes

Federal Board of Revenue (FBR) has exempted all kinds of diagnostic support and health safety items from taxes, including Income Tax, Sales Tax and Customs Duty, for a period of three months, in order to…

March 21, 2020
Published in Business

SBP asks banks to waive all charges on online fund transfer

The State Bank of Pakistan (SBP) has asked banks to waive all charges on online fund transfers.

March 20, 2020
Published in Business

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