The price of gold in Pakistan has experienced a decline for the second consecutive day, closing at Rs. 221,800 per tola. The All-Pakistan Sarafa Gems and Jewellers Association (APSGJA) reported that the price of gold (24 carats) decreased by Rs. 600 per tola to reach Rs. 221,800, while the price of 10 grams dropped by Rs. 514 to close at Rs. 190,158.
The price of high-speed diesel in Pakistan is expected to increase by Rs24 per litre effective from August 16, 2023, leading to concerns of a new wave of inflation. As international oil prices surge, the government may also raise prices of other petroleum products, including petrol, by Rs12 to Rs24 per litre in its fortnightly review for August 16-31, 2023.
The Government of Pakistan has signed a memorandum of understanding (MoU) with Miracle Saltworks Collective Inc (MSCI), a Wisconsin-based company, through the Pakistan Mineral Development Corporation (PMDC) to collaborate on the development of the mineral sector.
The import of Russian crude oil to Pakistan has been suspended after the refining process revealed that it produced more furnace oil than petrol, according to a report in The News. Pakistan Refinery Limited (PRL) has reportedly refused to process more Russian crude due to the significant imbalance between the types of refined products obtained from it compared to Arabian crude.
Amidst ongoing economic uncertainty, the automobile industry has faced yet another significant decline in car sales.
A Pakistani expatriate has achieved the remarkable feat of winning gold coins worth AED 50,000 (equivalent to Rs. 3.9 million) in a fortunate draw organized by Mahzooz in Dubai. Coincidentally, an expatriate from India has also experienced a life-altering transformation by securing an impressive amount of AED 1 million.
PIA Anticipates Rs112 Billion Loss This Year, CEO Highlights Restructuring Efforts: Pakistan International Airlines (PIA) CEO, Air Vice Marshal Amir Hayat, disclosed that the national carrier is set to face a Rs112 billion deficit in the current year.
Yamaha has offered a one-of-a-kind deal for motorcycle owners. According to the most recent business update, owners of select Yamaha models can bring their bikes to an authorised dealership and drive away with a new one.
The lush landscapes of Pakistan hold the promise of a thriving agricultural sector, and avocado is one of the many high-value crops that can not only benefit the growers but also reposition the country’s agriculture sector in international markets.
BankIslami Pakistan Limited provides simple auto finance for all locally manufactured new and old vehicles. In order to provide consumers with ease, the bank has developed an interest-free monthly instalment option, making car ownership easier and more accessible to everyone.
Aviation Minister Khawaja Saad Rafique issued a warning on Friday regarding the potentially dire financial future of Pakistan International Airlines (PIA). He said that without immediate correction, the airline could suffer staggering losses of Rs. 259 billion by 2030. Minister Rafique stressed the urgency of implementing essential measures, including transferring administrative control to the private sector.
Gold prices witnessed a substantial decline in Pakistan on Thursday, reaching a closing value of Rs. 220,200 per tola. According to data released by the All-Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of 24-carat gold dropped by Rs. 2,800 per tola, settling at Rs. 222,200, while the price of 10 grams fell by Rs. 2,401, ending at Rs. 188,786.
