Tag: loss
-
PIA to be privatised: assets, debt and staff to be transferred
Pakistan International Airlines (PIA), which has been running at a loss, has unveiled its privatisation plan. Sources indicate that this plan encompasses not only the privatisation of PIA but also the power distribution companies and the revival of Pakistan Steel Mills.
-
Rupee resumes downward trend against US dollar
Pakistani rupee suffered a marginal loss of Rs0.50 against the US dollar in the interbank market, extending its losses for a second straight session. State Bank of Pakistan (SBP) reports that the local currency lost Rs0.50 against the dollar in the interbank market and ended the day at Rs218.38. The Forex Association of Pakistan (FAP)…
-
Pak Suzuki discontinues Bolan’s AC variant after one year
Pak-Suzuki Motor Company (PSMC) will no longer sell the Suzuki Bolan’s AC variant. After almost 15 years, this variation was finally introduced last year, and tragically, its production will cease once again. The company’s decision to stop producing the AC variant of the Suzuki Bolan is a blatant indication that it has failed to pique…
-
Nisab amount of zakat deduction set at Rs88,927 for 2022
The nisab amount of zakat for the year 2022 is set at Rs88,927, according to a notification dated March 30, 2022, issued by the Poverty Alleviation & Social Safety Division, Cabinet Secretariat, Government of Pakistan. The account holders, maintaining a minimum of Rs88,927 balance on the first day of Ramzan would be liable to pay…
-
Pakistani rupee continues its record-breaking decline against the US Dollar
The Pakistani Rupee (PKR) continued its decline against the US Dollar (USD) today, reporting losses in the interbank market. At the close of the session today, the local currency lost 30 paisas against the US dollar. It fell 0.16 percent against the US dollar, closing at Rs182.64 after losing 30 paisas and closing at Rs182.34…
-
Mark Zuckerberg loses $6 billion in hours after Facebook, Instagram and WhatsApp outage
Mark Zuckerberg’s personal wealth has fallen by more than $6 billion (roughly Rs44,790 cores) in a few hours, knocking him down a notch on the list of the world’s richest people, after a whistle blower came forward and outages took Facebook’s flagship products offline. As per details, a selloff sent the social-media giant’s stock crashing…
-
Pakistan post suffered losses worth Rs61 billion in last 10 years
The Pakistan Post has suffered a loss of Rs61 billion in the last 10 years. According to reports, the Ministry of Postal Services, while presenting statistics regarding organisation’s performance, told the Senate Standing Committee that the institute faced a loss of Rs140 million in year 2008-2009 and this loss swelled to Rs10 billion in 2018-2019.…