Protests occur around the country in reaction to rising electricity prices.

ISLAMABAD – Protests are taking place in major cities and towns across the country, including Karachi, Lahore, and Peshawar, over excessive electricity costs. People have taken to the streets in response to a huge increase in electricity rates across the country.In most of the country’s small and big cities, businessmen are protesting the high cost […]

Facebook is allegedly being sued by Thailand for suspected frauds.

Reuters: Bangkok The second-largest economy in Southeast Asia’s Facebook (META.O) may be shut down, according to Thailand’s digital minister, if Meta Platforms doesn’t take steps to stop frauds that have impacted more than 200,000 individuals. “We are asking the court to close Facebook, not allowing it to provide services in Thailand if they let these […]

The PTA has blocked 43 unlicensed lending applications.

ISLAMABAD, Pakistan (Web Desk) – The Pakistan Telecommunication Authority (PTA) has stopped 43 digital lending applications that were functioning without a legitimate license, as directed by Federal Minister for Information Technology and Telecommunication (MoITT) Syed Aminul Haque. The applications were chastised for their predatory lending practices when a man committed himself after failing to settle […]

The government permits abroad Pakistanis and tourists to use mobile phones for up to four months.

ISLAMABAD, (APP) – Prime Minister Muhammad Shahbaz Sharif today launched the Online Temporary Mobile Phone Registration system for abroad Pakistanis and foreign nationals, under which applicants would be allowed to use their phones for 120 days without paying customs taxes. The scheme would allow abroad Pakistanis and foreign nationalities to use their own phones when […]

The dollar’s trend shifts, and it loses another Rs5 on the open market.

KARACHI, Pakistan (Web Desk) — By midday on Wednesday, the US dollar had lost another five rupees versus the local currency and was available for Rs295, resulting in a net gain of Rs10 over the previous two days. On Tuesday, the rupee gained Rs5, closing the day at Rs300 on the open market. However, in […]

Shell Petroleum will sell its shareholding in Pakistan.

KARACHI ( Reuters/Web Desk )- Shell Pakistan Limited (SPL) said on Wednesday that its parent firm, Shell Petroleum firm, which controls 77% of the local organisation, will leave the country, without specifying how much stake would be disposed of. The action comes after the firm experienced huge losses in 2022 as a result of currency […]

Pakistan’s total debt tops Rs58tr amid high interest rate, rupee depreciation

KARACHI : The entire debt of the central government increased by 34.1% at the end of April, according to the State Bank of Pakistan (SBP), reaching Rs58.6 trillion on an annual basis. The trend is predictable given the government’s increasing reliance on borrowing in the face of a weakening currency and its failure to increase […]

Suzuki and Honda’s poor performance resulted in a 52% decline in car sales.

Due to Pakistan’s ongoing economic crisis, the automotive sector is still in a nightmare slide. According to the most recent statistics from the Pakistan Automotive Manufacturers Association (PAMA), automakers (association members only) sold just 4,463 vehicles in April 2023, a 52% month-over-month and 80% year-over-year reduction. With 1,948 vehicles sold, Toyota Indus Motor Company (IMC) […]

Dollar Horror: Country in Crisis As PKR Helplessly Drops Below 300, Making History [Updated]

As political unrest plagues markets, the Pakistani rupee plunged to its all-time low of 300 versus the US dollar during intraday trade today after dipping below 296 at 12:10 PM. The interbank rate lost Rs. 10 during the first few hours of intraday trade today, falling to Rs. 300.25 at 1:30 PM, down by 3.3 […]

ECC authorises Rs60 billion in credit for PSO to pay debts

ISLAMABAD: The release of Rs 60 billion in finance for Pakistan State Oil (PSO) to be able to satisfy its financial commitments was authorised at a meeting of the Economic Coordination Committee (ECC) of the federal cabinet, among other decisions. The bulk of this money will come from commercial banks because of the fact that […]