KARACHI: Nisab for Zakat deduction on bank accounts for the current lunar year has been fixed at Rs46,329. According to a notification put out by the Poverty Alleviation and Social Division, no Zakat deduction at source will be made in case ?the amount standing to the credit of an account in respect of the assets mentioned in column 2 Serial No.1

KARACHI: Textile mills on Thursday demanded that the government freeze gas and electricity bills for the spinning industry for at least two months to help it underpin exports sector amid the spread of the coronavirus that holds a potential recession risk, reported The News. All Pakistan Textile Mills Association said that the government should help the textile spinning industry by freezing gas and electricity bills for at least two months ?so that the industry may operate without any interruption in these difficult times and also to avoid mass unemployment of the workers?.

Men sell vegetables at their makeshift stalls at the Empress Market in Karachi, Pakistan> Photo: Reuters ISLAMABAD: Economists have cautioned the government that if the coronavirus pandemic prolongs, the first one to be impacted will be perishable food items and then the staple food items, reported The News. For an uninterrupted food supply, they recommend, the government must maintain the provision of input to farmers, mobility of labour in the agriculture sector, and shipment of food from farm to markets and market to retailers.

Photo: File ISLAMABAD: The government on Thursday imposed restrictions on the import of petrol and crude oil starting April and directed all oil marketing companies (OMCs) to lift petroleum products from local refineries as demand goes down in the wake of a countrywide lockdown to limit the spread of the coronavirus, reported The News.

KARACHI: The United States Dollar climbed a further Rs0.46 in the interbank market and is being traded at Rs166.60, ARY News reported. The US dollar on Friday touched the highest mark against the Pakistani rupee in the interbank market and closed at Rs168. It is pertinent to mention here that during the past week, the dollar gained 6.87

KARACHI: All bank branches will remain open throughout the country from Monday to Friday with minimum staff for ensuring essential banking services, the State Bank of Pakistan (SBP) said on Monday. According to a statement, all banks and their branches will stay open from 10 am till 4:30 pm on weekdays.

Malaysia’s Top Glove Corporation, which makes one in every five gloves globally, expects a product shortage as demand from Europe and the United States spikes because of the widening coronavirus outbreak is exceeding its capacity. The company has extended shipping times to cope with the demand surge, Executive Chairman Lim Wee Chai told Reuters by phone on Friday.

BENGALURU/MUMBAI: Physical gold dealers in India offered the highest discounts in about two months this week as customers kept away with coronavirus cases in the country continuing to mount, while Singapore saw steady safe haven demand. In thin volume trade, discounts of up to $32 an ounce were offered over official domestic prices in India, the highest since early April.

ISLAMABAD: Adviser to Prime Minister on Finance and Revenue Abdul Hafeez Shaikh will chair a meeting of the Economic Coordination Committee (ECC) on Wednesday (tomorrow), ARY NEWS reported. The meeting would mull over a five-point agenda including the tabling of a summary from the ministry of commerce and industry clarifying the decision to export sugar.

The development comes following a meeting of the ADB's Board of Directors in the Philippines' capital, Manila. REUTERS/Cheryl Ravelo/Files MANILA/KARACHI: The Asian Development Bank (ADB) has approved a loan worth $500 million to Pakistan to help the country's coronavirus health and economic response and "protect poor" citizens, it said in a statement issued Wednesday.