Express
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Rupee named world’s best-performing currency | The Express Tribune
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[ad_1] KARACHI: The Pakistani rupee has claimed the title of the world’s best-performing currency for September, marking a seven-week high against the US dollar. On the seventeenth successive working day of its upward trajectory, the rupee closed at an impressive Rs287.74 against the greenback, gaining 0.35% or Rs1.01, according to the State Bank of Pakistan’s…
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Investment in Reko Diq sought | The Express Tribune
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[ad_1] KARACHI: Pakistan has started taking steps to attract billions of dollars in foreign investment from friendly nations including Saudi Arabia in copper and gold mining in Reko Diq as two state-owned companies holding stakes in the project announced that they would hire advisers to engage with foreign investors. In their separate notifications to the…
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Bank customers gradually adopting digital channels | The Express Tribune
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[ad_1] KARACHI: Pakistanis are gradually migrating from cash-based to digital banking as internet and mobile banking, branchless banking and EMIs have exhibited outstanding growth in terms of the number of transactions. However, in terms of value, cash still remains the king, indicating big payments are mostly made manually through banks. The State Bank of Pakistan…
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Minister reviews Raast implementation | The Express Tribune
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[ad_1] ISLAMABAD: The Caretaker Federal Minister for Finance, Revenue, and Economic Affairs, Shamshad Akhtar, underscored the significance of public-private partnerships in achieving sustainable development goals and fostering inclusive growth during a review of the implementation of RAAST (Pakistan Instant Payment System). In a meeting with Syed Ali Mahmood, Country Lead (Pakistan) for the Bill and…
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PIA suffers Rs60.71b loss in 2023 1st half | The Express Tribune
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[ad_1] LAHORE: The Pakistan International Airlines (PIA) has suffered a loss of Rs60.71 billion in the first six months of the ongoing year, according to the national flag carrier’s financial report for 2023. The airline had put up with a loss of Rs41.31 billion in the corresponding period last year. According to the report, the…
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Rupee breaches Rs290 mark against US dollar | The Express Tribune
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[ad_1] KARACHI: The Pakistani rupee has displayed significant strength, breaching the Rs290 mark against the US dollar for the first time in the past seven weeks. This marks its fifteenth consecutive working day of gains on Tuesday. According to data from the State Bank of Pakistan (SBP), the domestic currency has made further gains, appreciating…
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Fiscal consolidation of Rs3.2tr sought | The Express Tribune
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[ad_1] ISLAMABAD: The interim government has finalised its strategy to revive the economy, focusing on increasing taxes on key sectors, reducing pro-growth and general expenditures, and ending distortions in the energy sector through price adjustments and privatisation. The Economic Revival Plan, spearheaded by Dr Shamshad Akhtar’s finance ministry, proposes a comprehensive fiscal consolidation of over…
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Petroleum crisis looms as prices soar globally | The Express Tribune
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[ad_1] ISLAMABAD: As the country grapples with the onslaught of rising petroleum prices, policymakers are scrambling to find a way to combat the growing crisis and secure the nation’s energy future. Globally, petroleum prices continue to surge, which have had a significant impact on the Pakistani market. Currently, 90% of petroleum products in the country…
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Minister urges strict price control measures | The Express Tribune
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[ad_1] ISLAMABAD: Minister for Planning, Development, and Special Initiatives, Muhammad Sami Saeed, chaired a meeting of the National Price Monitoring Committee (NPMC) on Monday to evaluate the prices of essential commodities. During the meeting, he stressed the importance of maintaining stable food prices and providing relief to the general public. The minister expressed a zero-tolerance…
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‘Import substitution should be part of industrial policy’ | The Express Tribune
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[ad_1] Sindh’s Caretaker Minister for Finance, Revenue, and Planning & Development Mohammad Younus Dagha has said that the State Bank of Pakistan should fix the exchange rate of the Pakistani rupee from time to time according to the internationally accepted exchange rate for the local currency. Speaking at a conference in Islamabad organised by the World Bank…
