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Terrorist attack: Chaman border remains closed for fifth straight day

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  • Pak-Afghan border crossing at Chaman remained closed for fifth straight day.  
  • Chaman border was closed after unidentified armed men opened fire on Pakistani security troops. 
  • All business and trade activities at Chaman border remained suspended. 

ISLAMABAD: The Pak-Afghan border crossing at Chaman remained closed for the fifth consecutive day on Thursday.

The Chaman border — known as Friendship Gate — was closed after unidentified armed men opened fire on the Pakistani security troops from inside Afghanistan, martyring a soldier and injuring another two on Sunday.

All business and trade activities at the Chaman border remained suspended for the fifth day. 

The federal government will take a decision about the opening of the Friendship Gate, the Chaman’s deputy commissioner said, adding that Islamabad and Kabul are in contact with each other on the matter.

FC soldier martyred

On November 13, a Frontier Corps soldier embraced martyrdom and two more sustained injuries in the midst of a cross-border attack from Afghanistan to Balochistan’s Chaman district.

Afghan security officials allegedly opened fire on the FC personnel while they were deployed on duty on the Pakistani side of the Bab-e-Dosti near Chaman, as per Levies officials.

As a result of the attack, one FC trooper was martyred while two were injured due to bullets shot at them during the exchange of fire between security officials of the two countries.

Following the incident, the Pakistani authorities contacted the Afghan government for a ceasefire in the area. Meanwhile, Bab-e-Dosti has been closed for all kinds of trade and pedestrian movement.

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An increase in tax was made on restaurant card payments.

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After 15 years, the SRB reduced the service tax that 58 hotels and restaurants in Karachi could have charged on debit and credit card purchases to 15%. This action is a part of the Sindh budget, which was designed to make eating out less expensive for customers.

Prior to this, Sindh’s tax on credit and debit card purchases was lowered from 15% to 8%.

Officials from the SRB have further stated that the service was made available for input adjustment of restaurant tax payments. With this step, businesses will be able to efficiently handle their tax responsibilities and the tax process would be made simpler.

Only a few eateries have been given authority to remove the lower tax rate, even though this tax facility has been reversed.

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The KSE-100 Index rises following a sharp decline in the previous session.

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The government is considering filing a treason case under Article 6 against PTI founder Imran Khan, former president Arif Alvi, and former deputy speaker Qasim Suri. On Tuesday, the KSE-100 Index was up more than 1.3% during early trading, following a day of roughly a 2 percent loss due to growing political unrest and the potential banning of the party.

However, the benchmark index of the Pakistan Stock Exchange was trading at 79,074.63 by 11:49 a.m., having gained 535.45 points, or 0.68 percent, after reaching an intraday high of 79,578.04.

Market analysts said that political tensions were the primary cause of the KSE-100’s earlier Monday decline of 1578.71 points, or 1.97 percent.

They did point out, though, that a correction was a reasonable reaction to the protracted upswing that allowed the benchmark mark index to reach 81,839.86 on July 18.

As a result of interest rate cuts and the possibility of another IMF program, the Pakistan Stock Exchange has gained 22.97 percent so far this year. The cycle began on June 10 with a 1.5 percent decrease in borrowing costs.

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In interbank trade, the US dollar crushes the Pakistani rupee.

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During interbank trade on Tuesday, the US dollar’s value increased by 15 paisas, reaching Rs 278.45.

It is important to remember that Fitch Business Monitor International expressed concern about the possibility that Pakistan’s economic stability may be jeopardized by the ongoing political unrest.

The fragile situation of Pakistan’s economic recovery was emphasized by Fitch in its most recent Pakistan Country Risk Report, which also noted that economic activity has been impeded by urban protests.

(PTI),In spite of multiple successful judicial appeals, the founder of Pakistan Tehreek-e-Insaaf (PTI) is expected to stay behind bars, the article notes, underscoring the fragile political environment.

With no urgent plans for new elections, this scenario suggests that the coalition administration will remain in office for the next 18 months.

Fitch also described an eventuality in which the government could change and be replaced by a technocratic administration. This suggests that the government of Pakistan would carry out the reforms demanded by the IMF, contributing to the 3.2% GDP growth expected in 2024–2025.

The policy rate has stabilized above projections, while the research predicted it may reach 16 percent this fiscal year and 14 percent the following year.

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