Following a record high, the price of gold in Pakistan is slightly declining.

Thursday saw a decrease in the price of gold in Pakistan after Wednesday saw the largest one-day surge. The price of gold (24 carats) declined by Rs 2,700 per tola to Rs 237,300, according to statistics issued by the All-Pakistan Sarafa Gems and Jewellers Association (APSGJA), while the price of 10 grammes decreased by Rs […]

NA organisation for preventing wheat and fertiliser smuggling to stabilise prices.

KARACHI – On Wednesday, the National Assembly Standing Committee on National Food Security and Research expressed its concerns about the smuggling of wheat and fertiliser and requested that the appropriate steps be taken to stop the problem in order to ensure that the commodity is supplied across the nation at a reasonable price. The Committee, […]

Pakistan’s exports to China increased by 17% in the first quarter.

Pakistan’s exports to China surpassed 1.039 billion dollars in the first quarter of this year, from January to March, representing an almost 17 percent growth. According to figures released by the General Administration of Customs of China, China’s exports to Pakistan climbed by 28.69 percent in the first three months of this year, totaling 6.058 […]

The trade deficit in Pakistan has reached an all-time high.

During the first 10 months (July-April) of the current fiscal year, 2021-22, the country’s trade imbalance set an all-time high, increasing by 64.79 percent.According to Pakistan Bureau of Statistics figures, the trade imbalance reached $39.264 billion in 2020-21, up from $23.826 billion in the previous year (PBS). According to the PBS monthly summary of foreign […]

A court has ordered the government to abolish the riba-based Haram financial system.

On Thursday, the Federal Shariat Court deemed Pakistan’s Interest Act 1839 un-Islamic, ordering the government to replace the Riba-based financial system with an Islamic one within five years.On April 12, a full bench of the Federal Shariat Court (FSC), led by Chief Justice Muhammad Noor Meskanzai and included Justice Dr. Syed Muhammad Anwar and Mr. […]

The FTO has asked the Federal Bureau of Revenue to conduct a yearly analysis of domestic tobacco production.

The Federal Tax Ombudsman (FTO) has urged the Federal Board of Revenue (FBR) to perform an annual examination of cigarette tobacco produced in Pakistan in comparison to claimed tobacco use by all cigarette manufacturing facilities.According to the FTO’s special report on the tobacco industry, the FBR should promptly apply Rule 89, particularly sub-rules (2) and […]

PSO Reports Record-Breaking Profits For FY22’s First 9 Months.

Pakistan State Oil Co. Ltd. (PSO), Pakistan’s primary oil marketing business, continues to dominate the energy industry, posting the highest-ever nine-month profit after tax of Rs. 64.8 billion, up 690 percent or 6.9x over the same time previous year.In the preceding 9MFY21, it made a profit of Rs. 18.2 billion, illustrating the company’s flexibility and […]

Poland will no longer buy Russian oil, and Germany has issued a gas warning.

WARSAW, Poland (AP) — Poland launched measures Wednesday to phase out all Russian oil imports by the end of 2022, as Germany issued a warning about natural gas supplies and urged users to save energy in a hint of rising economic tensions in Europe over Russia’s conflict in Ukraine. Poland’s reliance on Russian oil has […]

According to Saudi Aramco, yearly earnings would more than treble in 2021.

RIYADH, Saudi Arabia (AFP) – Saudi Aramco announced on Sunday that its net profit for 2021 increased by more than 120 percent owing to higher crude prices, as global economic growth rebounded from a pandemic-induced dip. The declaration came just hours after Yemen’s Huthi rebels, against whom Saudi Arabia leads a military coalition, launched cross-border […]