“At its meeting today, the Monetary Policy Committee (MPC) decided to cut the policy rate by 200 bps to 13 percent, effective from December 17, 2024,” the SBP said in a statement. It added that the inflation declined to 4.9 percent on a year-to-year basis in November 2024, in line with the ‘MPC’s expectations’. “This […]
As of October, the total debt stood at Rs 69.114 trillion, up from Rs 64.810 trillion in February, according to the documents available. The domestic debt rose by Rs 4,556 billion during the period, while foreign debt decreased by Rs 251 billion. As a result, the domestic debt stood at Rs 47.231 trillion as of […]
According to the details, the Monetary Policy Committee of the SBP is expected to reduce the policy rates by 2 to 3 percent. Currently, the profit rate stands at 15 percent, indicating a cumulative decrease of 7 percent since June. Additionally, starting from October, the current account has recorded a surplus of 34.9 crore dollars, […]
The Deposit Protection Corporation (DPC) issued its annual report for the fiscal year 2023-24. According to the report, as of June 30, 2024, the total number of depositors in scheduled banks was 79.2 million. Among them, 78 million depositors are eligible for compensation within the limits set by the corporation. The report highlighted that the […]
However, according to the Forex Association of Pakistan (FAP), the buying and selling rates of the dollar in the open market stood at Rs 277.75 and Rs 279.25 respectively. The price of the Euro increased by 49 paise to close at Rs 292.60 against the last day’s closing of Rs 292.11, according to the State […]
According to the National Savings Department, the profit rate for savings accounts has been reduced from 16% to 13.5%, representing a decline of 250 basis points. This adjustment aligns with the overall revision of interest rates for certain savings schemes. In addition to the changes in savings account rates, the profit rates for regular income […]
The State Bank of Pakistan in a statement said that “the total foreign reserves of Pakistan surged to US$16.62 billion supported by recent Asian Development Bank (ADB) loan transfer, while the SBP reserves crossed $12 billion as of November 29, 2024.” According to the SBP, the total liquid foreign exchange reserves held by the central […]
However, according to the Forex Association of Pakistan (FAP), the buying and selling rates of the dollar in the open market stood at Rs 277.50 and Rs 279.00 respectively. The price of the Euro increased by 85 paise to close at Rs 292.98 against the last day’s closing of Rs 292.13, according to the State […]
According to details, the funds will be used to establish stable aviation fuel reserves in the country. A private aviation fuel storage facility is planned to be set up in Sheikhupura, Punjab. The loan falls under the climate support framework aimed at financing infrastructure projects. The initiative is expected to reduce carbon emissions in the […]
According to sources, the price of high-speed diesel has increased by Rs 12.14 per liter since October 16, while the price of petrol has risen by Rs 5.07 per liter during the same period. The government has increased the price of high-speed diesel three times and petrol twice over the past month and a half. […]
