Pakistan’s gold and jewellery export sector is facing a severe crisis following the abrupt suspension of SRO 760 on May 6, which halted imports of raw gold and stalled export consignments. According to Pakistan Bureau of Statistics (PBS) data, no gold was imported in June or July. Only nine kilograms of gold worth $927,000 were imported in May — primarily shipments made before the SRO’s suspens
The Pakistan Stock Exchange (PSX) extended its losses for the third consecutive session on Wednesday, as investors remained cautious amid fresh flood warnings and economic concerns, coupled with rollover pressure ahead of the expiry of futures contracts. The benchmark KSE-100 index shed 941 points, closing below the 147,500 level. An early rebound was short-lived as selling pressure dominated t
Pakistan on Wednesday sought deeper collaboration and fresh support for policy-based lending from the Asian Development Bank for vast sectors of the economy, from climate to infrastructure to resource mobilisation, through global capital instruments, like green bonds and debt-for-nature swaps, under the new 10-year partnership. The wish-list for future direct financial support and collaborati
Finance Minister Muhammad Aurangzeb on Wednesday unveiled a drastically simplified income tax return form for salaried individuals — reducing the number of required fields from 800 to just 40 — as part of the government’s push for a predictable tax regime and accelerated privatisation under its broader structural reform agenda. Speaking at a conference on “Building a Resilient Public Financial
The Public Accounts Committee (PAC) on Wednesday reviewed audit objections involving the Cabinet Division’s management of the Toshakhana, the state gift repository, highlighting improper amendments to its rules and the disappearance of records dating back before 1997. The committee, chaired by Syed Naveed Qamar, was told by audit officials that the original Toshakhana rules from 1973 had been a