Express
-
Exchange rate difference remains high | The Express Tribune
.
[ad_1] KARACHI: The difference between rupee-dollar exchange rates in inter-bank and open markets has remained significantly high compared to the International Monetary Fund’s (IMF) recommended level of 1.25%, breaching a lender’s condition and putting question mark over the ongoing $3 billion loan programme. Pakistani rupee closed unchanged on Thursday at the three-month low of Rs294.92…
-
Kakar sees SIFC as engine of prosperity | The Express Tribune
.
[ad_1] ISLAMABAD: Caretaker Prime Minister Anwaarul Haq Kakar on Wednesday said that the recently-instituted Special Investment Facilitation Council (SIFC) would continue to work as before in laying the foundations for fast-track foreign investments — particularly from Saudi Arabia. The prime minister, in a meeting with Saudi Ambassador Nawaf bin Saeed Ahmad Al-Malkiy who called on…
-
Debt soars Rs18.5tr during PDM govt | The Express Tribune
.
[ad_1] ISLAMABAD: In an alarming development, the Pakistan Democratic Movement (PDM) government added Rs18.5 trillion to the public debt in just 15 months, which was more than the debt accumulated by its arch-rival Pakistan Tehreek-e-Insaf in its three-and-a-half-year tenure, reveals a central bank statement. Gross public debt jumped from Rs44.4 trillion in March 2022 to…
-
Power surcharge of Rs1.52 per unit on cards | The Express Tribune
.
[ad_1] ISLAMABAD: Another electricity tariff hike is on the cards for Karachi consumers as the government is in the process of imposing an additional surcharge of Rs1.52 per unit. Power-sector regulator – the National Electric Power Regulatory Authority (Nepra) – conducted a public hearing on Tuesday to consider a federal government’s request for the consumer…
-
Tax reforms commission unceremoniously sent packing | The Express Tribune
.
[ad_1] ISLAMABAD: The much-trumpeted Reforms and Resource Mobilisation Commission (RRMC) was unceremoniously sent packing by the last government without giving it time to complete a final report, adding another name to a long list of failed attempts to reform the outdated and shallow taxation system. The RRMC could not make its impact in the absence…
-
Gulf markets subdued after China cuts rates | The Express Tribune
.
[ad_1] BENGALURU: Most major stock markets in the Gulf fell in early trade on Tuesday as investors mulled over world’s second largest economy China cutting key policy rates, with the Saudi index on course to extend losses from the previous session. China’s central bank unexpectedly cut rates for the second time in three months on…
-
Rupee loses significant ground against USD | The Express Tribune
.
[ad_1] KARACHI: The Pakistani currency witnessed a significant drop on Tuesday – the first day of the interim government taking over the reins of power in the centre – and closed at a three-month low of Rs292 against the US dollar. The local currency shed Rs3 against the greenback in the interbank market around midday. The…
-
Near-term external sector issues resolved | The Express Tribune
.
[ad_1] KARACHI: State Bank of Pakistan (SBP) Governor Jameel Ahmad has said that the nine-month, standby arrangement agreed with the International Monetary Fund (IMF) has improved foreign currency reserves of the country and largely resolved near-term issues pertaining to external sector of the economy. Addressing a flag-hoisting ceremony to mark the 76th Independence Day at…
-
Of rising oil prices and the devaluing rupee | The Express Tribune
.
[ad_1] KARACHI: There’s an old adage that says, ‘Prepare for the worst and hope for the best.’ As Pakistan faces the twin challenges of rising oil prices and a declining rupee, this wisdom could not be more relevant. Being a nation that imports energy products, Pakistan annually incurs substantial costs, which amounted to $17 billion…
-
How IMF sees Pakistan’s economy in the near future – Part I | The Express Tribune
.
[ad_1] KARACHI: Pakistan’s economy has become a major topic of discussion, dominating coffee table conversations and boardroom debates alike. Never before have I witnessed the common folk engaging in discussions about economic intricacies and key indicators with such vivid detail. Given our psychological predisposition for mythological interpretations and our natural inclination for storytelling, each of…
