Oil jumps more than 7% as Israel strikes Iran, rattling investors
Brent crude futures rise $5.29, or 7.63%, to $74.65 and WTI crude up $5.38, or 7.91%, to $73.42 a barrel; Iranian media said multiple explosions were heard near Nantanz nuclear facility Â
KP faces 27% budget cuts amid funding shortfalls
KP slashes budget by Rs358bn amid Rs526bn funding shortfall, with deep cuts to development and merged districts to meet IMF surplus target
International donors to fund Rs177.52bn for 50 uplift projects in KPK
KP allocates Rs177.52bn for donor-backed projects in FY2025–26, with major funding from World Bank and ADB targeting roads, energy, health, education, and tourism
Car, bike sales accelerate in May; 11-month volumes up 39% YoY
Auto sector benefits from lower rates, improved sentiment; 2/3-wheeler volumes hit 3-year high
SBP to decide on policy rate on June 16 amid rising May inflation
MPC to weigh recent inflation uptick after 11% rate cut in May
Pakistan-Russia rail service to begin June 22, Russia eyes PSM investment
Pakistan Railways signs MoU with Punjab IT Board for digitalisation push
PSX pares gains, ends lower after record intra-day surge post-budget
KSE-100 closes at 124,093 after touching all-time high of 126,718 intraday
Tax on digital platforms imposed after retail sector’s concerns over unequal burden, says FBR chairman
Online platforms and courier services that fail to remit taxes on digital transactions will face fines of Rs500,000 for first-time violations and up to Rs1 million for repeated defaults
New levy imposed on locally made, imported vehicles to boost EV adoption
"Energy Vehicle Adoption Levy", outlined in Finance Bill, aims to encourage people to transition from traditional internal combustion engine vehicles to electric alternatives, including motorcycles and rickshaws
Rs500bn in additional taxes possible if tax enforcement legislation is not passed by parliament, says finance minister
Aurangzeb stresses that all budget figures have been locked with IMF, and further steps would be needed to meet revenue targets
Govt seeks National Assembly approval for Rs345 billion in unapproved spending
Additional spending largely funded by reallocating resources from other budget areas, raising concerns over financial control
FBR grants Inland Revenue officers powers to arrest company executives for tax fraud
Under the new rules, an IR officer conducting an investigation may arrest directors, CEOs, chief financial officers, and individuals suspected of abetting tax fraud
OGRA slaps over Rs400 million penalty on 20 OMCs for stock shortfalls, local uplift failures
OGRA fines 20 oil firms over Rs400 million for failing stock cover and refinery uplift mandates, warns of stricter action for non-compliance
Industry warns of export risk if methyl bromide fumigation is reduced
Experts warn against curtailing methyl bromide use as lapses in fumigation threaten Pakistan’s agricultural exports and violate global quarantine standards
Remittances surge to $3.68bn in May, pushing FY25 inflows to nearly $35bn
Worker remittances up 29% in 11 months; May sees 16% monthly jump amid strong inflows from Gulf, UK, and US