Cash-strapped Pakistan’s weekly inflation rise to 38.4%

The Sensitive Price Index (SPI), has measure short-term weekly inflation, rose to 38.42 per cent on a year-on-year (YoY) basis in the outgoing week, The Pakistan Bureau of Statistics reported, quoting the latest data of the Pakistan Bureau of Statistics. In order to satisfy the International Monetary Fund’s (IMF) demand before releasing $1.1 billion under […]

Pharmaceutical Companies Threaten to Shut Down Due to Import Delays

According to sources, the pharmaceutical companies have threatened to initiate protests on January 5 in an effort to put pressure on the federal government to solve the challenges facing the sector. Due to the federal government’s misguided policies, the nation is currently experiencing a severe scarcity of life-saving medications. The pharmaceutical industry was having issues, […]

Burgers, Fries and Robots; McDonald’s Open its 1st Fully Automated Restaurant

At one McDonald’s location in Texas, robots are now serving up Big Macs. This is the world first Automated Restaurant where robots are serving food to humans, Source Daily News Publisher. Amid a growing desire for fast food giants to automate their processes, the first mostly robot-run McDonald’s restaurant is currently being tested in Fort […]

Another Textile Company in Pakistan Stop Production

Due to economic crisis, Pakistan’s industrial sector is witnessing a slowdown, Suraj Cotton Mills Limited (SURC), a textile manufacturer recently announced to diminish their production by 40%. SURC sent notice to PSX (Pakistan Stock Exchange). “We would like to inform you that due to the worldwide economic recession and low demand, it is not feasible […]

Textile Company Nishat Chunian Temporary Shut Down due to Economic Crisis

NCL (Nishat Chunian Limited) shared a notice to PSX (Pakistan Stock Exchange) to temporary shut down its 51,360 spindles after one month due to ongoing market condition. The firm has installed capacity of 219,528 spindles and 2,880 rotors in its spinning division. Where the rest of the divisions are operating as per schedule,as soon as […]

Private Agents (Non-FBR) Collect Rs.734 Billion Taxes in Last 5 Months in Pakistan

In the first five months of the current fiscal year, withholding agents—most of whom are private individuals—collected Rs734 billion, or two-thirds of all the income tax, making them larger tax collectors than privileged taxmen.According to data compiled by the Federal Board of Revenue, the most income tax was collected from contractors, consultants, importers, saving account […]

ACE Money Transfer and Allied Bank Limited, Giving Away 61 Samsung Galaxy S22 Ultra to Overseas Pakistanis

ACE Money Transfer and Allied Bank Limited, Giving Away 61 Samsung Galaxy S22 Ultra to Overseas Pakistanis. Pakistan is the world’s 5th leading remittance recipient, with $31.2 billion in remittances in FY2022. Pakistan’s economy and financial reserves heavily depend on remittances and makeup approximately 8.69% of its GDP. The economy’s reliance on foreign remittance has […]

Pakistan Govt To Roll Back Import Restrictions From 2nd Jan

The State Bank of Pakistan (SBP) has decided to remove the import restrictions with effect from January 2, 2023, Source Daily News Publisher. It has been stated in a circular sent on Tuesday to the presidents and chief executives of all authorized dealers in foreign exchange. “It has been decided to cancel the aforementioned directives […]

Landa Bazar Traders Threaten to Shut Shops over “Tax Issue”

The traders of Landa Bazar have threatened to close their shops in protest of the increase in taxes imposed on imported goods, Daily News Publisher Reported. Speaking at a press conference in Karachi, Muhammad Usman, secretary general of the Pakistan Second Hand Clothing Merchant Association, demanded that the government remove the new taxes imposed on […]

Shabbar Zaidi claims that Pakistan has technically entered default

Former chairman Federal Board of Revenue (FBR) and renowned economist Shabbar Zaidi on Thursday claims that Pakistan has technically entered default, Daily News Publisher Source. While talking to ARY News, Shabbar Zaidi said that Pakistan has to rationalise the petroleum products and restrictions should be imposed on the approval of the letters of credit (LCs) […]

World’s Oldest Hotel still Continuously Operational for over 1300 years operated by 52 Generations of same family in Japan

The Nishiyama Onsen Keiunkan hotel has welcomed guests for over 1,300 years and was founded in 705 AD. To top it all off, the Japanese hot spring inn has been run by the same family for 52 generations. In 2011, Guinness World Records recognised it as the oldest hotel in the world. Japan also boasts […]

Data of 400 Million Twitter users stolen by Hacker, put for Sale on Dark Web

A hacker has claimed to have stolen the data of nearly 400 million Twitter users and put it up for sale on the da*k web. According to I*sraeli cyber intelligence firm, Hudson Rock, the database contains devastating amounts of information, including e-mails and phone numbers of high-profile users. Hudson Rock has shared pictures of the […]

Afghan Traders Paying upto Rs. 30 More than open Market to buy Dollars, Causing Dollars Shortage in Pakistan

The president of Pakistan’s Forex Association, Malik Muhammad Bostan, asserted on Monday that the government was losing dollars as a result of smuggling and its trading with Afghanistan. Chairman Exchange Companies Association Malik Bustan says that it is estimated that 2 billion dollars are going to Afghanistan per month, Afghan businessmen are paying up to […]

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