Pakistan Today

LONDON: Oil hit a nine-month high on Friday and was headed for a seventh straight weekly gain as investors focused on the rollout of Covid-19 vaccines and looked past rising case numbers and tighter lockdowns in Europe. Pfizer has applied for approval in Japan for its vaccine, which is being used in the United Kingdom and the United States. US...

Prime Minister Imran Khan has called for immediate measures to pass on the benefits of improved economic indicators to the common man. Chairing a high-level meeting of his economic team in Islamabad on Friday, the premier noted that the government’s business-friendly policies were now bearing fruit. “The country’s economy is back on track due to the efforts of the present government," he...

KARACHI: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) on Friday welcomed the central bank's decision to remove the condition of Form-E to facilitate small-scale exporters. FPCCI President Mian Anjum Nisar in a statement lauded the State Bank of Pakistan (SBP) for the waiver of e-form requirement (up to $5,000 per consignment) for small industries. He said that...

ISLAMABAD: The Federal Board of Revenue (FBR) on Friday constituted a provincial complaint resolution committee for the settlement of issues related to sales tax refund in Khyber Pakhtunkhwa (KP). The six-member committee comprises Senator Nauman Wazir Khattak (convener); chief commissioner Inland Revenue (IR) Regional Tax Office (RTO)-Peshawar; chief commissioner IR (RTO, Abbottabad); additional commissioner (RTO, Peshawar); Khyber Match and AYS...

KARACHI: Visiting the highest global peaks in Gilgit-Baltistan has now become easy, as Pakistan International Airlines (PIA) on Friday introduced special fares to facilitate travellers visiting Skardu and Gilgit. Sharing the details on its Twitter feed, the national flag carrier announced that it would now be charging a minimum one-way fare of Rs6,915 from passengers travelling from Islamabad to Skardu...

The Pakistan Stock Exchange (PSX) held a gong ceremony to welcome The Bank of Punjab (BOP) onboard as a market maker for debt securities on the exchange. To mark the occasion, an agreement was signed between PSX and BOP at PSX trading hall on Friday. Following the accord, BOP became the first bank to be recognized as market maker for...

ISLAMABAD: The Economic Affairs Division has rejected media reports that the country witnessed a 45pc increase in its foreign loans over the last five months. In a statement issued on Friday, the Economic Affairs Division said, “Media reports regarding 45pc increase in foreign loans in 5-months period are completely incorrect and misleading.” Explaining key facts, the division claimed the government received gross...

ISLAMABAD: In a positive development that will further promote and enhance Pak-Lanka bilateral trade, the Sri Lankan government has reversed its decision to increase the cess (domestic tax) on imported mandarins (kinnows). According to officials of the Ministry of Commerce, Pakistan has been a leading and steady supplier of quality mandarins to the Sri Lankan market in recent years. But...

KARACHI: The Pakistan Stock Exchange (PSX) succumbed to selling pressure on Friday, with the benchmark index failing to sustain early gains and closing in the red. The performance of global equity markets also remained mixed, whereas crude oil prices slipped lower from the previous close; WTI crude price declining 0.19pc to $48.27 while Brent crude price falling 0.39pc to $51.30. "The...

ISLAMABAD: The Sensitive Price Indicator (SPI)-based weekly inflation for the week ended on December 17 witnessed a nominal decrease of 0.22pc as compared to the previous week. The SPI for the week under review in the combined consumption group was recorded at 140.73 points against 141.04 points registered in the previous week, according to data released by the Pakistan Bureau...

NEW DELHI: Thousands of Indian farmers protesting against deregulation of agriculture markets are drawing strength from Sikhs around the world who are urging foreign governments to intercede with Prime Minister Narendra Modi. Farmers, mostly from the Sikh-dominated state of Punjab, have been camped on the borders of New Delhi since last month, demanding Modi roll back the reforms intended to...

The solutions partnership between Jazz Business and Falcon-i could shape how fleet tracking in Pakistan happens

ISLAMABAD: Pakistan and the UAE have agreed to enhance cooperation in the agriculture sector. The understanding was reached at a meeting between Foreign Minister Shah Mahmood Qureshi and UAE's Prime Minister Mohammed bin Rashid Al Maktoum in Dubai on Thursday, said a statement. During the meeting, Shah Mahmood Qureshi said that Pakistan desires to further strengthen its relations with the UAE by...

ISLAMABAD: The Ministry of Commerce has suggested the Ministry of National Food Security and Research not to import additional wheat during March-April 2021, it was learnt on Thursday. As per the commerce ministry, any additional arrival of imported wheat in March-April 2021, when local wheat would be available in Pakistan, should be avoided as it would create an imbalance with...

The Federal Board of Revenue (FBR) has allowed customers to get five per cent cash back on sales tax paid on purchases from tier-1 retailers that are integrated with the FBR’s online system. The amount of 5pc of the sales tax paid to the integrated retailers can be redeemed through FBR’s wallet account. According to a notification, an important amendment was...