Fitch downgrades Pakistan’s rating to B-, maintains stable outlook

It projects current account deficit will narrow to 5.1% of GDP in FY19 and to 4% in FY20 from a revised 6.1% in FY18

Pakistan receives second $1bn Saudi tranche

Earlier, the State Bank of Pakistan (SBP) in November had received $1 billion from Saudi Arabia.

SBP governor hints further devaluation of rupee

ISLAMABAD: As the experts have already expected a further decrease in the value of Pakistani currency against the dollar, the State Bank of Pakistan (SBP)...

Saudi Arabia to make its ‘largest foreign investment’ in Pakistan: Asad Umar

ISLAMABAD: Federal Minister for Finance Asad Umar said on Thursday that Saudi Arabia is about to make “the largest foreign investment in Pakistan’s history” which...

Rupee to weaken to Rs148 against greenback by end of FY19: Fitch Solutions

It expects the trade deficit to narrow over the coming months irrespective of oil price dynamics taking the country’s dollar shortage and recent rupee weakness into context

Asad Umar says will only take IMF’s money, not dictation

PTI govt has clear strategy to get Pakistan out of the begging-bowl syndrome - Asad Umar

PIBTL working on setting up LPG import facility at Port Qasim

Port Qasim Authority (PQA) Chairman Asad Rafi Chandna said it was working to develop another natural ship navigation channel

Chinese entity e-Hualu clinches $83.6 million deal to build rapid bus transit system in Pakistan

Previously, e-Hualu was involved in building a project in 2016, which included an electronic policing system, access control and a vehicle monitoring platform for the capital Islamabad

Landlords found evading taxes, sent notices by FBR

It has come to the fore, that three out of four people who were declaring agriculture as the source of income aren’t paying tax on agriculture income in provinces

Pakistan likely to receive financial assistance from China after JCC meeting

Pakistan may get short-term lending of $2 billion from Industrial and Commercial Bank of China ISLAMABAD: As Pakistan still awaits financial assistance from China, the...

Auto sales nosedive 17% YoY to 17,442 units in November

On a month-on-month basis (MoM), auto sales declined 30% to 17,442 units in November against 24,850 units in October

Trade deficit declines 0.3% YoY to $2.78 billion in November

On a month-on-month (MoM) basis, trade deficit recorded a decline of 5.3% to $2.78 billion from $2.94 billion in October 2018

No duty payable on phones being used on roaming for less than thirty days: Azhar

For these phones to be registered, Mr Azhar said it can be done at either the airports or in any of the Customs houses across the country and phones aren’t detained during the process of registration/duty payments

Hubco completes acquisition of 37% stake in ThalNova

In April 2016, ThalNova had been granted a power generation licence for establishing a 330-megawatt coal-fired power plant at Thar coal mine south, Sindh

Overseas Pakistanis liable to pay tax on bringing more than one mobile phone : Chaudhary

Chaudhary said a 38% duty will be levied on costlier mobile phones

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MoF to seek cabinet’s approval over appointment of NBP chief

ISLAMABAD: The Ministry of Finance (MoF) is considering approaching the federal cabinet over the appointment of Arif Usmani as National Bank of Pakistan (NBP)...