Business

Significant surge in the price of gold in Pakistan

Published

9 months ago

Farwa

On Friday, the price of gold in Pakistan continued to increase.

According to the All-Pakistan Gems and Jewellers Sarafa Association, the price of 24-karat gold per tola has risen by Rs2,200, reaching Rs249,000.

The price of 10-gram 24-karat gold increased by Rs1,886, reaching a total of Rs213,477. On Thursday, the cost of 10 grammes of 22-karat gold was Rs195,687.

The global gold market likewise had a rising trajectory. As per APGJSA, the worldwide rate was $2,404 per ounce, showing a decline of $24 during the course of the trading day.

The local market witnessed constant silver prices at Rs2,900 per tola.

Market observers attribute the increase in gold prices to other variables, such as volatility in the global market, currency exchange rates, and economic conditions. The ongoing surge in gold prices is likely to impact investment choices and consumer behaviour in the near future.

Business

PEL Ships Transformers to Start US Exports

Published

17 hours ago

Bilal

Through stable and efficient trade regulations, the Special Investment Facilitation Council has helped promote Pakistani industrial exports internationally.

With the first shipment of transformers departing Pakistan for the United States on March 13, 2025, Pak Electron Limited formally started exporting its goods to the United States.

PEL wants to increase its worldwide visibility and investigate new overseas prospects. Under its power and appliances segment, the company produces high-quality goods like transformers and home appliances.

Additionally, PEL has alliances with major global corporations including General Electric, Mitsubishi, and Hitachi.

Business

The FBR has extended the deadline for sales tax returns until March 27.

Published

18 hours ago

Bilal

The Federal Board of Revenue (FBR) extended the deadline for submitting Sales Tax and Federal Excise reports to March 27, 2025, to assist taxpayers.

The FBR has issued an official notification concerning the prolongation, as per reports.

The initial deadline for submitting Sales Tax and Federal Excise reports for the February 2025 tax period, originally set for March 18, 2025, has been extended to March 27, 2025.

The determination has been rendered pursuant to Section 74 of the Sales Tax Act 1990 and Section 43 of the Federal Excise Act 2005.

FBR officials indicated that the extension is intended to alleviate challenges encountered by taxpayers, permitting them to complete their returns within the specified timeframe without inconvenience.

Taxpayers are encouraged to utilize the extended deadline and submit their returns punctually to evade any possible fines.

The FBR regularly extends tax return deadlines to assist the corporate sector and facilitate seamless tax compliance.

Business

Stocks fall as PSX is under selling pressure.

Published

2 days ago

Bilal

The benchmark KSE-100 Index dropped more than 600 points during Monday’s opening trading hours, sending the Pakistan Stock Exchange (PSX) plunging.

The benchmark index had dropped 635 points and was now trading at 117,806.25.

The PSX’s decline was attributed primarily to selling pressure.

Important industries include fertilizer, auto assemblers, refineries, OMCs, and oil and gas exploration firms. Due to widespread selling, index-heavy stocks such as EFERT, INDU, MARI, OGDC, PPL, and PSO saw negative trading.

Remember that throughout the past week, the PSX has been in a bullish trend, reaching historical highs.

This prolonged increase was fueled by hope for a possible staff-level deal for the International Monetary Fund’s (IMF) $1 billion second EFF tranche.