According to sources, the Ministry of Commerce has proposed a new strategy to regulate exporting essential food items such as fruits, meat, poultry, sugar, and rice. The move came at a time when the government aims to curb inflation and ensure the availability of essential items at affordable prices. The ministry has also proposed to […]
Zubair Motiwala, Businessmen Group (BMG) leader has urged the authorities to cut the markup rate down to 14.5 percent from the current 19.5 percent interest rate in the coming monetary policy. “Moody’s has also categorized the insecure loans to CAA2”. KCCI has said that inflation has dropped to the lowest level of 9.6 percent in […]
The greenback closed at Rs278.64 against the previous day’s closing of Rs 278.53. However, according to the Forex Association of Pakistan (FAP), the buying and selling rates of USD in the open market stood at Rs 278.25 and Rs 279.75 respectively. The price of the Euro increased by 36 paise to close at Rs 308.44 […]
The data showed that the inflows of remittances during July were recorded at US$161 million as compared to US$ 200 million in June and US$ 224 million in May 2024. These accounts provide innovative banking solutions to millions of Non-Resident Pakistanis (NRPs), including Non-Resident Pakistan Origin Card (POC) holders, seeking to undertake banking, payment, and […]
According to the ADB blog report on remittances in Pakistan, remittances saw a significant increase of 19.8%, reaching a record high of $31.1 billion, during the COVID-19 pandemic. The report stated that remittances play a vital role in reducing poverty and increasing foreign exchange reserves. The ADB recommended providing more incentives to overseas Pakistanis to […]
According to a statement issued by the central bank, Pakistan’s reserves held by the SBP increased by 19 million to US$ 9.29 billion during the week ending on 16th August. Meanwhile, the country’s net foreign reserves held by commercial banks stood at $5.375 billion during the period. “During the week ended on 16-Aug-2024, SBP reserves […]
However, according to the Forex Association of Pakistan (FAP), the buying and selling rates of the dollar in the open market stood at Rs 279.60 and Rs 280.30 respectively. The price of the Euro increased by Rs 1.49 to close at Rs 307.49 against the last day’s closing of Rs 306.00, according to the State […]
However, according to the Forex Association of Pakistan (FAP), the buying and selling rates of the dollar in the open market stood at Rs 279.30 and Rs 280.40 respectively. The price of the Euro decreased by 64 paise to close at Rs 304.21 against the last day’s closing of Rs 304.85, according to the State […]
According to documents from the Ministry of Finance, the State Bank’s surplus profit was Rs. 371 billion in the financial year 2023. The bank’s profit share in non-tax revenue was the highest after the petroleum levy. The total non-tax revenue for 2024 was Rs. 3,184 billion, with petroleum levy accounting for the largest Rs. 1,019 […]
Talking to the media, SBP Governor Jameel Ahmeed said the central bank’s Monetary Policy Committee (MPC) met earlier today and decided to reduce interest rates owing to the decline in inflation in the past months. “We have noted that the inflation is on a declining trend,” SBP Governor Jameel Ahmad said as he addressed a […]
