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Encroachments on govt land will not be tolerated: DG KDA
KARACHI: Director General Karachi Development Authority (KDA) Syed Muhammad Ali Shah said that illegal occupation and encroachment on government land will not be tolerated under any circumstances. Strong action will be taken against encroachment mafi...
Rupee appreciates against dollar
KARACHI: Rupee appreciated against dollar in interbank market, according to State Bank of Pakistan (SBP) report. Domestic unit gained 0.72 paisa against greenback to close at Rs 283.80 in interbank market. Greenback had closed at Rs 283.91 day earlie...
KSE-100 falls over 502pts owing to IMF uncertainty
Karachi: Pakistan Stock Exchange (PSX) KSE-100 index witnessed selloff for fifth consecutive session and fell over 500 points owing to stalemate between Pakistan and International Monetary Fund with regard to resumption of bailout programme. At close...
Pakistan careening towards potential default if IMF aid does not arrive: Bloomberg
Karachi: International Monetary Fund (IMF) could release funding to Pakistan by June under bailout package, Bloomberg report stated, but warned country could be heading towards default if this does not happen. “Our base case is that IMF will de...
SBP to remain closed for public dealing on Friday
Karachi: State Bank of Pakistan will remain closed for public dealing on Friday March 24, 2023, which shall be observed as ‘Bank Holiday’ for purpose of deduction of Zakat, since 1st of Ramadhan-ul-Mubarak, 1444 A.H. is likely to fall on...
Hinopak suspends assembly plant operation
Karachi: Hinopak Motors Limited (HINO) become latest automaker to shut operations on temporary basis as it faces consequences of government’s import restrictions and struggles to continue production. Hinopak, which assembles and manufactures Hi...
IP procedures to be simplified through digitalisation: Chief IPO
KARACHI: Chairman Intellectual Property Organisation (IPO) Pakistan Farrukh Amil said that under its long-term strategy, IPO Pakistan wants to simplify cumbersome IP procedures through digitalisation which would enable individuals and companies to ge...
Rupee makes minor gain against dollar
Karachi: Rupee registered minor gain against dollar, appreciating 0.04 percent in inter-bank market. As per State Bank of Pakistan rupee settled at 283.92 a gain of Re 0.11. A day earlier, rupee had settled at 284.03 against dollar in inter-bank mark...
PSX closes with marginal loss on lull investors’ interest
Karachi: Pakistan Stock Exchange (PSX) KSE-100 index endured mixed session and KSE-100 Index closed 0.1 percent down amid sharp drop in investor participation. Political and economic uncertainty kept market participants on sidelines. At close, KSE-10...
Bank Alfalah, TCF to set up primary school in Nawabshah
Karachi: Bank Alfalah partnered with The Citizens Foundation (TCF) to fund construction of primary school in Asif Nagar in Nawabshah for Rs 49 million. Bank Alfalah’s contribution towards rebuilding schools is particularly noteworthy given that...
