U.S. President Donald Trump has lowered Pakistan’s import tariff rate to 19% from 29%, effective August 7, 2025, following a trade agreement finalized on July 31. The decision, announced via an executive order, comes a day after Trump hailed a “landmark energy partnership” with Pakistan to develop its oil reserves, signaling a new chapter in...
Gold prices across Pakistan saw a modest decline today, offering a small reprieve for buyers. The price of 24-carat gold per tola dropped by Rs. 100, settling at Rs. 352,900. Similarly, 10 grams of 24-carat gold fell by Rs. 86, now priced at Rs. 302,555. The price of 22-carat gold per tola also decreased by...
Pakistan’s Oil and Gas Development Company Limited (OGDCL) has struck oil for the 13th time in Tando Allahyar, Sindh, marking another milestone in the nation’s quest for energy self-sufficiency. The company notified the Pakistan Stock Exchange (PSX) of the discovery at the Chakar-1 well in the TAL Block, reinforcing Pakistan’s potential as a hydrocarbon-rich region....
Petrol users can breathe a sigh of relief as the price per liter drops by Rs. 7.54, bringing it to Rs. 264.61. On July 31, 2025, Pakistan’s federal government rolled out the new revision in petroleum product prices, effective from August 1, 2025, to August 15, 2025. On the other hand, high-speed diesel (HSD) sees...
The federal government has ordered the closure of all Utility Stores Corporation (USC) outlets across Pakistan, ending a 54-year-old state-run retail chain that provided affordable essentials to millions of low-income households. The decision, finalized on July 31, 2025, has left over 11,000 employees jobless, sparking widespread concern about economic fallout and worker welfare. The Ministry...
Gold prices declined significantly in both local and international markets, reflecting shifts in global economic conditions. In Pakistan, the price of 24-karat gold per tola fell by Rs 2,000, settling at Rs 353,000. The price of 10 grams of 24-karat gold also dropped by Rs 1,714, now standing at Rs 302,641. Globally, the spot price...
India has escalated its diplomatic efforts against Pakistan by submitting a controversial statement by Khyber Pakhtunkhwa Chief Minister Ali Amin Gandapur to the Financial Action Task Force (FATF). Gandapur, a senior leader of Pakistan Tehreek-e-Insaf (PTI), reportedly claimed on July 25, 2025, that Pakistani authorities arrest Taliban members, but certain state institutions, including the Inter-Services...
The US dollar weakened slightly against the Pakistani rupee in the interbank market, dropping by 8 paisas, according to the State Bank of Pakistan (SBP). The dollar closed at Rs 282.87, down from Rs 282.95 the previous day, reflecting a minor fluctuation in the currency’s value. This small decline aligns with recent trends reported by...
The Provincial Ombudsman for Sindh, Justice (R) Shahnawaz Tariq, has removed K-Electric CEO Moonis Alvi from his position after finding him guilty in a workplace harassment case. The Ombudsman also fined Alvi Rs 2.5 million, ordering him to pay within one month or face severe consequences, including asset seizure and restrictions on his national identity...
On July 30, 2025, the Federal Board of Revenue (FBR) announced a staggering Rs. 111 billion fine on fraudulent solar panel import companies involved in a sprawling money laundering and over-invoicing scheme. The FBR’s Directorate of Post Clearance Audit (South) in Karachi uncovered a sophisticated network of 13 fake companies, primarily based in Peshawar, Quetta,...