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SBP reserves drop $728m to $11.32 billion | The Express Tribune
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[ad_1] KARACHI: The foreign exchange reserves held by the central bank decreased 6.04% on a weekly basis, according to data released by the State Bank of Pakistan (SBP) on Thursday. On April 1, the foreign currency reserves held by the SBP were recorded at $11,319.2 million, down $728 million compared with $12,047.3 million on March…
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RDA inflows inch closer to $4 billion | The Express Tribune
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[ad_1] KARACHI: Overseas Pakistanis have invested the second largest amount of $290 million in a month in their home country through the Roshan Digital Accounts (RDAs), as the cumulative inflows hit a record high of nearly $4 billion by the end of March 2022. The non-resident Pakistanis (NRPs) largely poured money- about two-thirds of the…
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Trade with Turkey hits $1.1 billion | The Express Tribune
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[ad_1] KARACHI: The bilateral trade volume between Pakistan and Turkey has crossed the $1.1 billion mark after being stagnant for a decade, said Federation of Pakistan Chambers of Commerce and Industry (FPCCI) President Irfan Iqbal Sheikh. While appreciating the Pakistan-Turkey Joint Business Council (PTJBC) of FPCCI in a statement on Friday for its efforts in…
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Govt okays Rs96 billion subsidy | The Express Tribune
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[ad_1] ISLAMABAD: The day the government lost majority in the National Assembly, the Economic Coordination Committee (ECC) of the cabinet approved Rs96 billion in subsidies for exporters, mainly the textile industry, and urea manufacturers, taking the total financial impact of its decisions in the past three weeks to over Rs880 billion. Finance Minister Shaukat Tarin…
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CDWP clears four projects worth Rs353 billion | The Express Tribune
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[ad_1] ISLAMABAD: The Central Development Working Party (CDWP) on Friday recommended four development projects worth Rs352.9 billion to the Executive Committee of National Economic Council (Ecnec) for approval. The meeting, chaired by Planning Commission Deputy Chairman Jahanzeb Khan, took up four projects including the construction of Hyderabad-Sukkur (306km-long, six-lane) Motorway, construction of northern section of…
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Foreign loans swell to $14.5 billion | The Express Tribune
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[ad_1] ISLAMABAD: The government received $14.5 billion in foreign loans during the first eight months of current fiscal year, higher by 77% over the same period of previous year, but the funds remained insufficient to prevent the official foreign exchange reserves from falling continuously. Total loans received by the government of Prime Minister Imran Khan…
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Current account deficit shrinks to $0.5 billion | The Express Tribune
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[ad_1] ISLAMABAD: Prime Minister Imran Khan revealed on Friday that the country’s current account deficit had shrunk to $0.5 billion in February, the lowest monthly deficit recorded this fiscal year. The premier took to his official Twitter handle to state that “timely action to contain current account deficit” had borne fruit, and that the current…
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SBP reserves fall $381m to $15.83 billion | The Express Tribune
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[ad_1] KARACHI: The foreign exchange reserves held by the central bank decreased 2.35% on a weekly basis, according to data released by the State Bank of Pakistan (SBP) on Thursday. On March 11, the foreign currency reserves held by the SBP were recorded at $15,831.6 million, down $381 million compared with $16,212.2 million on March…
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Punjab spends Rs300 billion on projects | The Express Tribune
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[ad_1] LAHORE: The Punjab government has claimed that it has so far utilised Rs300 billion on various development schemes across the province. Talking to The Express Tribune, Planning and Development Board (Punjab) Chairman Abdullah Khan Sumbal underlined that the utilisation of funds in the first eight months of current fiscal year (2021-22) was historic. The…
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Oil price cut to eat up Rs28 billion | The Express Tribune
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[ad_1] ISLAMABAD: The government is going to pay a heavy sum of Rs28 billion to keep petroleum product prices at current levels for a fortnight amid swelling global crude oil prices because of the ongoing Russia-Ukraine conflict. Earlier, Prime Minister Imran Khan announced a reduction of Rs10 per litre in petroleum prices and that the…
