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International Monetary Fund (IMF) Managing Director Kristalina Georgieva has urged Pakistan to implement progressive taxation policies that target the wealthy and safeguard the interests of the nation’s impoverished citizens. Georgieva made this recommendation during her meeting with Interim Prime Minister Anwaarul Haq Kakar on the sidelines of the United Nations General Assembly (UNGA). In an interview with a Pakistani private …

Amreli Steels Limited, a prominent manufacturer of steel bars and billets in Pakistan, faced significant losses in the fiscal year ending on June 30th, 2023. Here are the key details: Financial Loss: The company reported a substantial loss of Rs678.44 million for FY23. This marked a stark contrast to the previous fiscal year, FY22, during which the company had registered …

The Pakistani rupee maintained its positive momentum against the US dollar in the open market, narrowing the gap with the inter-bank rate. This convergence is considered a significant benchmark of the International Monetary Fund’s (IMF) Stand-By Arrangement (SBA). According to reports from currency dealers, the rupee was being quoted at 305 for selling and 302 for buying in the open …