File photo Foreign exchange reserves of the State Bank of Pakistan fell to a nine-year low. Foreign exchange reserves stood at $9.45 billion as of January 20, a decline of $990 million in the week ended January 20. Reserves of State Bank decreased by 920 million dollars to 3.67 billion dollars. Deposits of commercial banks…
The Finance Ministry has started preparations to present the budget for the upcoming financial year 2023-24 in the first week of June. The federal government has started the budgeting process for the upcoming financial year 2023-24 and has invited budget proposals from all relevant stakeholders as well as FBR field formations. Apart from this, the…
Implementation of International Monetary Fund (IMF) conditions has restored investors’ confidence. The PSX 100 index was positive for the fourth straight day of the business week. The index has closed at 40 thousand 846 with an increase of 1 thousand 61 points. In the four days of this business week, the 100 index has increased…
Minister of State for Petroleum Mossadegh Malik says that cheap oil will start arriving in Pakistan in March. He said that all commercial deals will be signed in March, LNG contract will be signed with Russia for next winter. He further said that trade with Russia can be done in the currency that we have…
Former Finance Minister Miftah Ismail has said that Ishaq Dar has been making programs against me and has been making them through anchors as well. It cannot be said that Pakistan will not default. Distance from the IMF increased the risk of default. Addressing the discussion at IBA, Miftah Ismail said that after the IMF…
Iconic photo The price of gold continues to soar, where even today the price of gold per tola in the country has increased significantly. According to All Pakistan Gems and Jewelers Association, the price of gold per tola increased by Rs 4900 today. After this increase, the price of gold per tola in the country…
Screen grab Chairman FBR Asim Ahmed says that the economic situation of Pakistan is very critical at the moment. Addressing the ceremony in Peshawar, Chairman FBR Asim Ahmed said that they will try to fill the tax gap in a short period of time and achieve the tax target. He said that we are facing…
A day after the Exchange Companies Association of Pakistan (ECAP) removed the fixed rate (cap) of the dollar in the open market, the value of the rupee has fallen in the interbank and open market. According to data from the Forex Association of Pakistan, the dollar is selling at Rs 255 after a record drop…
—File photo With the dollar flying high in the interbank market today, different banks started giving different rates for the dollar. Economists raised the veil due to the expensiveness of the dollar. According to experts, the rate of the dollar has been left to the market, that is why the dollar has become so expensive…
—File photo The flight of the US dollar continues, due to which the Pakistani rupee has not recovered yet. Since the opening of business this morning, the US dollar has suddenly started flying high and it is not stopping till now. The inter-bank rate of the dollar increased by Rs 24 11 paise to Rs…
