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Business

Car sales go up by 62pc in November

News Desk.1 day ago

SPOTLIGHT

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News Desk

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1 day ago

Car sales go up by 62pc in November

Car sales in the country have increased by 62% in November 2024 as compared to November 2023, data from the Pakistan Automotive Manufacturers Association (PAMA) showed Thursday.

According to reports, the year-on-year increase was noted with 7,909 units sold in November 2024 as compared to a mere 4,875...

Business

News Desk

•

1 day ago

Stock market regains momentum after Tuesday's 1,000-point drop

The stock market is bouncing back from the steep decline recorded Tuesday, which led to the slashing of over 1,000 points from the KSE-100 Index.

According to reports, the Pakistan Stock Exchange’s (PSX) benchmark KSE-100 Index gained 1,277.16 points, or 1.17%, to reach an intraday high of 110,173.81,...

Business

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PIA's comeback: Ban reversal opens European skies, new opportunities

Baku’s sweet deal might drive Pakistan’s sugar industry to new heights

Government repays 1.9 trillion rupees in debt, unlocking credit for businesses

Sunblock for solar: Winter package might dim solar market spark

Protests, profits and losses: PTI's march and its business impact

Business

News Desk

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Dec 05

Is the dollar really worth only Rs 211? Tola Associates blame IMF for high rate

Tax advisory and consultancy firm Tola Associates has said in an Economy Alert note released on Wednesday that the average rupee-dollar value would be 211.5 rupees instead of the current 277 rupees by the end of October this year if International Monetary Fund (IMF) conditions were excluded, The News reported.

...

Business

Ibraheem Sohail

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Nov 23

Illegal housing societies struggle as Punjab cracks down on them

Housing scheme developers and the owners of residential construction companies are currently witnessing their efforts going down the drain as Punjab cracks down on illegal housing societies (IHS). While Punjab’s crusade against the 600 illegal societies serves to displeasure them, it comes as great news for those that have been...

Business

Ibraheem Sohail

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Nov 22

Banks play cat-and-mouse with Islamabad, cutting deposits over boosting loans

Bank owners breathed a sigh of relief as they found a way to potentially overcome the additional taxes that Islamabad was keen to extract from them. These additional taxes were levied as the Advance-to-Deposit ratio (ADR) was too low.

In simple terms, a low ADR demonstrates that banks...

Business

Ibraheem Sohail

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Nov 21

Banks rush to lend ahead of private loan deadline

The government has decided to finally increase lending levels amid the threat of an additional tax of 15 per cent looming over banks due to low private lending. Banks were able to sidestep these additional taxes last year by negotiating with the government; however, Islamabad refused to budge this year.

...

Business

News Desk

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Nov 21

10 power distribution companies likely to be transferred to president

The World Bank has proposed transferring the ownership of 10 power distribution companies (DISCOs) to the president of Pakistan before their privatisation.

According to reports, Power Division officials, during a meeting of the Senate Standing Committee on Privatisation, revealed that the World Bank had outlined at least nine conditions for...

Business

Ibraheem Sohail

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Nov 20

Prime minister Shehbaz Sharif’s crackdown on sugar hoarders might not be sweet for culprits

Owners of sugar mills grow worried as Prime Minister Shehbaz Sharif ramps up efforts against their activities. As per a PM office press release, Mr Sharif relayed information regarding a plan to reduce the hoarding of sugar and tax evasion by mill owners.

This move by the Prime...

Business

Ibraheem Sohail

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Nov 19

Prime Minister Shehbaz Sharif targets tax evasion amid rising public criticism

Prime Minister Shehbaz Sharif has instructed relevant authorities to take action against tax defaulters, evaders, and any party that is facilitating them, according to a report by Dawn News.

The prime minister was briefed by the finance ministry regarding the country's economy and a recent high-profile meeting...

Business

Ibraheem Sohail

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Nov 19

Punjab expected to achieve Rs630 billion cash surplus

Despite missing the International Monetary Fund’s (IMF) cash surplus by a staggering Rs182 billion, hope still remains for Punjab.

Reports quoted provincial Information Minister Azma Bokhari as saying the IMF still believes that Punjab will be able to achieve the predetermined cash surplus of Rs630 billion by...

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