The Federal Board of Revenue (FBR) is facing the impossible task to collect Rs. 965 billion in December for meeting the assigned revenue collection target. The FBR’s month-wise tax projections for the current fiscal year (FY23) reveal that an extraordinary growth of 61 percent (compared to last year’s collection) would be required in revenue collection … Read more
Pakistan and Russia are expected to start negotiations on importing oil and liquified natural gas (LNG) by the end of the week. A two-member Pakistani delegation comprising Dr. Musadik Malik, Minister of State (Petroleum Division), and Capt (R) Muhammad Mahmood, Additional Secretary In-charge (Petroleum Division), will visit Moscow from November 29 to 30 to get … Read more
Oil prices fell on Thursday with Brent crude falling near Monday’s levels following developments that Group of Seven (G7) nations were considering a price cap on Russian crude in the range of $65-70 per barrel, international media reported today. The world’s most traded commodity fell as supply fears added to the downward trend that initially … Read more
The Pakistani Rupee (PKR) dropped further against the US Dollar (USD) and posted losses during intraday trade today. It depreciated by 0.05 percent and closed at Rs. 223.91 after losing 10 paisas against the greenback. The local unit quoted an intraday low of 224.35 against the greenback. The local unit was initially bearish in the … Read more
