LONDON: Consumers in difficulties due to the COVID-19 pandemic will have more time to ask for a temporary freeze on their credit card payments, Britain’s Financial Conduct Authority said on Wednesday. Measures introduced in April to offer temporary relief to customers with credit cards and interest-free bank overdrafts were due to end this month.

ISLAMABAD: Adviser to the Prime Minister on Finance and Revenue Abdul Hafeez Shaikh on Saturday said the budget presented for next fiscal year is focused to cope with the impacts of Covid-19 and provide relief to the people, ARY News reported. While addressing a post-budget news conference in Islamabad along with Information Minister Shibli Faraz and Minister for Industries and Production Hammad Azhar, the adviser said the PTI government imposed no new tax imposed in the federal budget 2020-21 keeping in view the Covid-19 situation.

Photo: File KARACHI: The International Monetary Fund (IMF) on Thursday hinted at the possibility of renewing conditions concerning the $6 billion loan program for Pakistan in the wake of the coronavirus shock to Pakistan?s economy, reported The News. IMF Communication Department Director Gerry Rice said technical discussions on the extended fund facility (EFF) with the Pakistani authorities continue.

ISLAMABAD: The Islamabad administration on Saturday announced the extension of working hours of shopping malls and markets from 5pm to 10pm, ARY News reported. According to a notification, all markets have been allowed to function till 10pm from Saturday (today) on account of the upcoming festival of Eid. Earlier on May 21, the Punjab government announced to increase business hours of markets and shopping malls following the demand from the traders’ community ahead of Eid.

KARACHI: The State Bank of Pakistan (SBP) has decided to provide more relief to the various companies for payment of wages and salaries to their workers and employees and to prevent layoffs as a result of the coronavirus lockdown. Banks have sanctioned more than Rs23 billion in concessional loans to various companies for payment of wages and salaries to their employees, till May 8.

LAHORE: The Punjab government has finalised the market timings amid COVID-19 lockdown which will be coming into effect from Wednesday (tomorrow), ARY News reported. The Punjab Minister for Industries, Commerce and Investment Mian Aslam Iqbal announced that pharmacies and petrol pumps will remain open for 24 hours everyday from tomorrow.

SINGAPORE: Oil prices fell on Monday, after Saudi Arabia and Russia delayed a meeting to discuss output cuts that could help alleviate global oversupply as the coronavirus pandemic pummels demand. Brent crude slipped close to $30 a barrel earlier but pared losses to trade down 24 cents, or 0.7%, to $33.87

KARACHI: Gold rates in the domestic market registered a decrease of Rs400 per tola on Monday, ARY News reported. According to details, per tola price of yellow metal fell to Rs89900 while 10 grams of gold decreased by Rs342 to Rs77,074. Meanwhile, bloodbath continues at Pakistan Stock Exchange as KSE-100 index dropped by 2100 points in intraday trading.

ISLAMABAD: Adviser to Prime Minister on Finance Abdul Hafeez Shaikh on Friday said that the government has released Rs 163 billion of tax refunds during the ongoing fiscal year 2019-20, ARY NEWS reported. He said that the amount released during the ongoing year was bigger than the previous financial year when Rs 101 billion of tax refunds were released.

ISLAMABAD: Prime Minister Imran Khan on Tuesday instructed strict adherence to a ‘zero tolerance’ policy on the act of hoarding, ARY News reported. According to details, a meeting was held under the chair of the premier earlier in the day to review wheat and sugar prices in the country, special assistant to the prime minister on finance Abdul Hafeez Shiekh apprised attendants of the decision to bring down prices.