Pakistan Stock Market continues bleeding and dropped by 674 points in opening hours of trading on Wednesday.
KSE 100 index dropped by 0.41 per cent at 9:45 am to 165499 points.
The companies which suffered included auto companies like Gandhara, Hinopak.
The Auditor General of Pakistan (AGP) has revealed that a sharp rise in withholding tax collection during FY24 was primarily driven by higher deductions on salaried income. According to the latest report published by AGP on Inland Revenue and Customs, withholding tax collection reached Rs2.74 trillion in 2023-24, accounting for more than 60 percent of…
MUGHAL announced its 4QFY25 result today, where the company recorded consolidated profit of Rs440mn (EPS of Rs1.31), down by 28% YoY, while up 94% QoQ. The result came higher than expected due to higher-than-expected gross margins. The company recorded gross margins of 9.75% in 4QFY25 compared to 6.48% in 3QFY25 and 9.21% in 4QFY24. Gross…
Pakistan has created a fiscal space of US$4billion as a result of successful negotiations for rescheduling of agreements under the Debt Service Suspension Initiative (DSSI). The government has been trying to reschedule debt after the outbreak of Covid-19 to create fiscal space. Pakistan is currently facing record debt and the burden of repayment of loans….
Car sales of local assemblers are likely to grow by 29% to 25,720 units in March 2022. The sales stood at 20,009 units during the same month last year, led by Pakistan Suzuki (PSMC). Barring PSMC, sales growth may slow down at 9%. Our estimates include provisional sales of major local players listed…
Pakistan’s debt burden has reached alarming levels, with every citizen now owing Rs 318,252, according to latest estimates by the Economic Policy & Business Development Think Tank. Figures show that per-person debt has ballooned from Rs 90,047 in 2014 to Rs 318,252 in 2024 — marking an average annual growth of 13 percent. The country’s…
ISLAMABAD, October 8: The Competition Commission of Pakistan (CCP) has imposed heavy financial penalties on Aisha Steel Mills Limited (ASML) and International Steels Limited (ISL) after finding both undertakings guilty of cartelization and price-fixing in violation of Section 4 of the Competition Act, 2010. The CCP’s Bench, comprising Chairman Dr. Kabir Ahmed Sidhu and Member…