Gold price per tola gain Rs600 in Pakistan
Similarly, 10-gram gold was sold at Rs302,554 after it gained Rs514, according to the rates shared by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).
On Tuesday, gold price per tola reached Rs352,300 after a decline of Rs6,100 during the day.
The international rate of gold also surged on Wednesday. The rate was at $3,345 per ounce (with a premium of $20), an increase of $6, as per APGJSA.
Meanwhile, silver price per tola remained stable at Rs3,745.
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Lionel Messi suspension leads to multimillion-dollar losses for MLS and hosting clubs
Major League Soccer (MLS) is facing backlash and financial consequences following the suspension of Inter Miami stars Lionel Messi and Jordi Alba. The two players were sidelined for one match after skipping the league's All-Star Game — a move that has stirred criticism from analysts and sparked debate among fans. Former Trinidad and Tobago goalkeeper and football pundit Shaka Hislop voiced concern over the decision, saying: 'The team will see a significant drop in expected attendance. That's where it's going to hit — in that home game. To the season ticket holders.' Similarly, ex-Liverpool defender Stevie Nicol weighed in, stating: 'There's always a circumstance where you have to make an exception. I think he's 100 per cent wrong.' Their criticism underscores a broader issue: Messi's absence has measurable financial consequences for both Inter Miami and MLS as a whole. Since Messi's arrival, the club's economic footprint has grown dramatically. Fueled by the Argentine star, Inter Miami's revenue surged from $60 million in 2022 to an estimated $200 million in 2024 — contributing to a $1.2 billion valuation, according to Forbes. This growth has been driven by skyrocketing ticket sales, global sponsorships, record-setting jersey sales, and high-value media rights deals. The ripple effects extend beyond Miami. MLS clubs collectively earned over $83 million from hosting Messi-led Inter Miami, averaging $6.45 million per away game. Los Angeles FC reportedly generated $17.3 million from two Messi appearances, while CF Montreal earned over $8 million from just one match. Crowds have reached record-breaking numbers wherever Messi plays: 62,358 fans packed Chicago's Soldier Field, 60,614 attended in Columbus — nearly triple its usual turnout — and Vancouver welcomed 57,837. Messi's suspension not only cost Inter Miami a key player but also highlighted just how vital his presence is to the league's financial health and fan engagement.
Business Recorder
a day ago
- Business Recorder
Essential kitchen items' prices stay stable
ISLAMABAD: The prices of essential kitchen items have remained stable during this week against the previous week, revealed a survey carried out by Business Recorder here on Saturday. The survey observed a reduction in chicken prices as it went down from Rs16,400 to Rs15,200 per 40-kg in the wholesale market, which in retail is being sold at Rs410 against Rs440 per kg and chicken meat is available Rs700 per kg. Eggs' price remained stable at to Rs7,300 per carton of 30 dozen which in retail is being sold in the range of Rs260-275 per dozen. Sugar price is stable at Rs8,800 per 50kg bag in the wholesale market, while in retail it is being sold at 190 per kg which reflects an over charging of Rs20 per kg as the government has fixed retail sugar price at Rs170 per kg. Traders especially retailers told this correspondent that sugar millers/stockists are not supplying the commodity to the retailers as per their commitment with the government. The moment stockists start supplying the commodity at the government fixed rates, the retailers will bring down the prices. Wheat flour price remained unchanged as the best quality wheat flour ex-mill per 15kg bag is available at Rs1,100, which in retail is being sold at Rs1,150 per 15kg bag; and normal quality wheat flour per 15kg bag is available at Rs1,000, which in retail is being sold at Rs1,050 per bag. After a significant reduction of Rs1,400 per 15 kg bag in wheat flour price over the past 18 months, the tandoor owners in some parts of the federal capital have reduced the roti, naan and paratha prices as in some parts of the federal capital, roti is available at Rs16 against Rs20, naan at Rs20 against Rs25 and paratha at Rs45 against Rs50; however, Quetta hotels chain has not reduced paratha price and are selling at highest rate of Rs60 per paratha. The bakers instead of reducing the biscuits, bread and confectionery items prices, have increased the prices of bakery items despite over 56 per cent reduction in flour prices over 31 per cent reduction in ghee/cooking oil prices. During the past two years, top quality cooking oil/ghee prices such as Dalda reduced by 25 per cent from Rs3,600 per 5 kg to Rs2,700 and normal ghee prices reduced by 31 per cent from Rs8,800 per carton of 16 packs to Rs6,100. The prices of cooked food items remained stable as a cooked daal/vegetable plate at a normal hotel is available at Rs320, cooked beef plate at Rs550, cooked chicken plate at Rs500, cooked mutton at Rs750 and naan/roti is being sold at Rs25/30. Mutton and beef prices remained stable as normal quality mutton was available at Rs2,200 per kg, normal quality boneless beef at Rs1,400 per kg, and normal beef at Rs1,100 per kg. Various varieties of fishes are available in the range of Rs500 to Rs900 per kg. No changes were witnessed in tea prices, as Lipton Yellow Label is available at Rs2,200 per 900 grams pack and Islamabad Tea is available at Rs1,800 per kg; normal quality turmeric powder is available at Rs650 against Rs600 per kg and normal quality red chili powder at Rs800 per kg. Pulses prices remained stable as maash pulse is available at Rs390 per kg, gram pulse at Rs270 per kg, whole gram pulse at Rs250 per kg, various varieties of bean lentils in the range of Rs400-500 per kg, moong at Rs380 per kg, and masoor at Rs280 per kg. The prices of branded spices such as Shan, National, and others, also remained stable as a pack of 39 grams of spice is available at Rs140. The prices of the various varieties of rice remained stable as the best quality basmati price in wholesale market is available at Rs14,000 per 40kg bag, which in retail is being sold at Rs390 per kg, normal quality Basmati at RS13,000 per 40 kg bag, which in retail is being sold at Rs360 per kg, and broken Basmati at Rs10,000 per 40kg bag, which in retail is being sold at Rs260 per kg. Ghee/cooking oil prices remained stable as B-grade ghee/oil is available at Rs6,300 per carton of 16 packs in the wholesale market, which in retail is being sold at Rs420 against Rs400 per pack of 900 grams, while best quality cooking oil/ghee brands such as Dalda ghee in wholesale market are available at Rs2,750 per 5kg tin which in retail are being sold at Rs2,850 per 5-litre bottle. Prices of packed milk brands, Milk Pak, Olpers and others remained stable at Rs2,350 per carton, while in retail 250ml packed milk is being sold at Rs95 per 250ml. Similarly, litre pack at Rs370 per litre. Fresh milk prices in some parts of the twin cities are being sold at Rs220 per kg while in some parts are still being sold at Rs230 per kg and yoghurt price is stable at Rs250 per kg. No changes were observed in the prices of powder milk such as Nido and Lactogen as 400gram Nido powder milk is available at Rs1,320 and 200gram pack at Rs700 per pack. Bathing soaps' prices remained stable as family-size Safeguard is available at Rs160 per pack while Dettol, Lux, Palmolives and others are available at Rs150 per pack, and detergent prices also remained stable as Ariel Surf, Brite, Express Power and others are available at Rs570 per kg pack. The prices of various brands of cold drinks such as Pepsi, Coke, Miranda and others remained stable as family-size bottle is available at Rs230. Officially the Oil and Gas Regulatory Authority (OGRA) while announcing a reduction of Rs6.47 per kg in liquefied petroleum gas (LPG) price has fixed it at Rs233 against Rs240.53 per kg, while retailers have not reduced the commodity price and still selling 15kg domestic LPG cylinder at Rs4,000 against Rs3,495 OGRA fixed price reflecting an overcharging of Rs505 per cylinder. Moreover, the retailers through decanting are selling the LPG on further escalated rates as they charge Rs300-330 per kg, reflecting an overcharging of Rs67-92 per kg. LPG traders and distributors always blame the marketing companies for higher prices, saying the companies are supplying them the commodity on higher prices as a result retailers are left with no option other than shifting the price to the end consumers. According to LPG traders, the LPG marketing companies and distributors are earning billions of rupees profit by overcharging the consumers, while the OGRA which totally depends on district administration including police have totally ignored the enforcement of official commodity rates. Moreover, LPG distributors and retailers are freely selling LPG by decanting in violation of the laws as a result every other day LPG cylinder blasts are claiming precious lives. Overall vegetable and fruit prices witnessed a mixed trend as potatoes price remained stable at Rs3,400-5,200 per quintal, while in retail potatoes are being sold in the range of Rs65-100 per kg; onion price in wholesale market remained stable at Rs1,500-3,000 per quintal, which retail are being sold in the range of Rs75-100 against government set price of Rs24-42 per kg and tomato prices went up from Rs600 to Rs900 per basket of 15kg, which in retail are being sold in the range of Rs100-300 against set price of Rs63-90 per kg. Ginger price is stable at Rs1,500/1,600 per 5kg in the wholesale market, which in retail is being sold in the range of Rs450-500 per kg, local garlic price went up from Rs750 to Rs900 per 5 kg which in retail is being sold at Rs220 against Rs200 per kg, Quetta garlic price is stable at Rs900 per 5 kg which in retail is being sold at Rs250 per kg and China garlic price is also stable at Rs1,150 per 5kg in the wholesale market which in retail is being sold in the range of Rs250-300 per kg, but venders are selling local garlic in the name of China/Quetta to maximize their profits. Copyright Business Recorder, 2025
Business Recorder
3 days ago
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‘Cruel initiative': Farmers call for end to 45% agricultural income tax
Small and progressive farmers have called for abolishing the 45% agricultural income tax, describing it as a cruel initiative that will annihilate the entire agriculture sector given they have been dealing with 20%-50% underpricing of agricultural produce since the last couple of years. These farmers have said they will challenge the tax in the courts while declaring it as 'illegal' and 'unconstitutional'. Moreover, the farmers say they already been paying 5% to 15% agricultural income tax and advance agricultural income tax worth Rs200 per acre since 1994. IMF agreed to spare agriculture sector from taxes, says PM Shehbaz Sindh Chamber of Agriculture (SCA) Senior Vice President Nabi Bux Sathio told Business Recorder: 'Let me dispel common misconception of industrialists and trade bodies that agriculturalists do not pay taxes.' 'We are paying taxes since 1994 while we are not given loans by banks and no privileges like special industrial zones or special export zones etc by the government. Has the government any justification to increase agricultural income tax from 15% to 45%, while agricultural produce in the range of Rs600,000 is exempted from the tax?' He said industrialists, wholesalers and retailers can fix prices of their products but agriculturalists are at the mercy of the market. SCA rejects '45pc agricultural income tax' 'We are getting low prices for our agricultural produce since Jan 2024 - around 19 months. We are getting 20%to 50% less money for wheat, paddy (rice), cotton, oil seed crops and others. However, we have got a better price of sugarcane.' 'There are three main inputs for crops such as seeds, fertilizers and diesel. I get a 50 kg bag of DAP [phosphatic fertilizer] at Rs9,000, urea at Rs2,600, 1kg of hybrid rice seed at around Rs1,500, per litre diesel at Rs186 in 2023, while they are right now being sold at Rs13,000, Rs4,400,Rs2,000 and Rs286 respectively at a local market,' he added. Farmers Organisation Council Sindh Chairman Jawaid Junejo said there is a plan to destroy the agriculture sector which may bring about food insecurity in the country. He said the government must review its decision and give relief to farmers so that they may grow crops which can benefit the country and countrymen.
