Pakistan is seeking a valuation of at least $1 billion for the Roosevelt Hotel it owns in New York and is ready to part with a minority stake in the prime Manhattan property as it scouts for a redevelopment partner, a senior government official said. Named after former US President Theodore Roosevelt, the century-old property in midtown Manhattan is seen as one of Pakistan’s most valuable forei
The eight-session bull run at the Pakistan Stock Exchange (PSX) came to an end on Wednesday as investors resorted to profit-taking at elevated levels, pulling the benchmark KSE-100 index below the 133,000 mark. The index settled at 132,576.99, down 826.20 points or 0.62 per cent, according to Topline Securities Ltd. The session remained volatile, with the benchmark oscillating between an intrad
With Pakistan facing yet another challenging fiscal year, the spotlight has returned on the provincial shares from the federal tax divisible pool under the National Finance Commission (NFC) award, which distributes financial resources between the federation and provinces. The prime minister has already announced his plan to convene the reconstituted NFC next month, ostensibly to address the iss
Reciprocal US tariffs are altering the dynamics of global trade partnerships, making it critical for Pakistan to gauge the stakes and craft a multi-pronged policy response across time horizons. Over the first 10 months of FY25, Pakistan’s exports to the United States totalled $4.46 billion, while imports from the US were valued at $2.05bn. According to the World Trade Organisation (WTO) tariff
Despite record remittances of $38.3 billion in FY25, the government has decided to reduce the reward paid to banks and exchange companies facilitating overseas inflows through official channels, the State Bank of Pakistan (SBP) informed the Senate Standing Committee on Finance on Wednesday. SBP Deputy Governor Inayat Hussain told the committee that the reward structure — previously set at 20, 2