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KARACHI: Foreign direct investment (FDI) increased 4.6 per cent to $2.41 billion in 2016-17, data released by the State Bank of Pakistan (SBP) showed on Monday. FDI in the last fiscal year was the highest since the PML-N government came to power four years ago. It was $1.45bn in 2012-13 and fell to $988 million […]

KARACHI: Political uncertainty, submission of the JIT reportand adjournment of Supreme Court decision to next week, resulted in adding to the pervading gloom over the investor sentiments. KSE-100 index declined 885 points (1.96 per cent) and settled at the end of the week at 44,337 points. During the week, the market also saw one of the […]

THE rupee appeared to be in search of direction last week against the dollar amid political uncertainty in the local currency market. Though State Bank of Pakistan’s (SBP) strict monitoring helped the rupee stabilise to some extent, the parity continued to show sharp variations. The rupee plunged Rs3.50 against the dollar a week earlier. Analysts […]

ISLAMABAD: Commerce and textile ministries have urged the Ministry of Finance to allow the continuation of an unconditional cash subsidy on exports in 2017-18 under the prime minister’s Rs180 billion support package. “We have approached the finance ministry several times for a policy change,” an official source in the commerce ministry told Dawn on Monday. […]

KARACHI: A welter of new revenue measures could become necessary this fiscal year, according to the International Monetary Fund (IMF) Article IV report released earlier in the week. The IMF projects a shortfall equal to 1.5 per cent of GDP just to meet the revenue target set by the government. The amount is around Rs480 […]

KARACHI: The rupee weakened against the dollar at 105.7/105.9 in the inter-bank market on Monday compared to Friday’s close of 105.4/105.6. The currency market has fluctuated regularly in recent months with hefty rises and falls on some occasions. In the long run, however, the rupee has stood firm after experiencing extensive volatility, when it weakened from […]

On Tuesday, when the KSE-100 index tanked 2,153 points, the record single-day decline, investors went into a panic selling in the lead of mutual funds which sold equity worth $11.6 million. Swinging like a pendulum over the Panama Papers’ case developments, the stock market on May 12 staged a rally of 1,052 points, recovering about […]

MULTAN: The government has failed to achieve the tax targets fixed for 2016-17 despite employing all tactics and delaying the issuance of refunds describing it concerning and discouraging. The parliament had approved unrealistic revenue targets in the previous budget, which could not be achieved even after realising advance taxes from corporate sector and delaying payment of […]

ISLAMABAD: The International Monetary Fund (IMF) has said that Pakistan’s gross external financing requirements would amount to $16.2 billion in the new fiscal year – a projection that does not fully reflect implications of external vulnerabilities the global lender itself mentioned in the same report. A critical review of the IMF’s Article-IV report on the state […]

KARACHI    : Bank deposits have increased 19% to reach Rs11.9 trillion in June after the country saw increased circulation of money in the system, a local brokerage house reported on Tuesday. “We attribute this to a 17% year-on-year Broad Money (M2) growth in June 2017,” Topline Securities’ analyst Umair Naseer said in a note to its clients. […]