Express
-
Luxury items’ import ban to save precious foreign exchange: PM | The Express Tribune
.
[ad_1] Prime Minister Shehbaz Sharif on Thursday said that the decision to ban the import of luxury items will save the country’s precious foreign exchange, vowing to take similar measures to overcome the economic challenges at hand. “We will practice austerity and financially stronger people must lead in this effort so that the less privileged…
-
Rupee surpasses 200 against dollar during intra-day trade | The Express Tribune
.
[ad_1] KARACHI: The Pakistani rupee surpassed the much-feared Rs200 against the US dollar in intra-day trade in the inter-bank market on Thursday. The rupee lost Rs2.41 to Rs200.80 at around 1:45 pm compared to Wednesday’s close at Rs198.39. According to reports, Prime Minister Shehbaz Sharif expressed surprise over the free-fall in the rupee and convened…
-
Govt bans import of essential & luxury items | The Express Tribune
.
[ad_1] ISLAMABAD: Prime Minister Shehbaz Sharif on Wednesday gave the go-ahead to a temporary ban on the imports of around three-dozen goods — essential and luxury items — but refused to slap regulatory duties to curb imports. He also permitted to limit the imports of many goods — including completely knocked down (CKD) cars and…
-
With 6% growth rate, Pakistan’s economic size jumps to $383b | The Express Tribune
.
[ad_1] ISLAMABAD: Fueled by imports and consumption, Pakistan’s economic growth rate accelerated to 6% during the last year of Imran Khan’s government – the highest pace in four years – helping to increase the size of the nation’s economy to $383 billion besides jacking up per-capita income. The provisional Gross Domestic Product (GDP) growth rate…
-
SBP slams illegal forex trading platforms | The Express Tribune
.
[ad_1] KARACHI: Taking notice of the increasing number of offshore foreign exchange trading platforms, the State Bank of Pakistan (SBP) has clarified that buying products/ services from such platforms is prohibited and against the laws of the land. In a statement on Wednesday, the central bank pointed out that these trading platforms – such as…
-
Rupee falls close to 200 in intra-day trading | The Express Tribune
.
[ad_1] KARACHI: Pakistani currency dropped to the much-feared level of Rs200 against the US dollar at a point in time in the inter-bank market on Wednesday but partly recovered towards the close of market. It hit an all-time intra-day low at Rs199.61, according to market sources. However, the currency closed at Rs198.39, recording a fresh…
-
Fly Jinnah’s cabin crew successfully graduated | The Express Tribune
.
[ad_1] KARACHI: Pakistan’s new budget airline, Fly Jinnah, on Wednesday announced the graduation of its first cabin crew batch with brand new uniform. Cabin crew has successfully completed their technical and customer experience training. This is Fly Jinnah’s first batch of 13 cabin crew members, who received comprehensive initial and practical training from cabin crew…
-
T-bills cut-off yield drops by 29bps | The Express Tribune
.
[ad_1] KARACHI: The interest rate on commercial banks’ fresh financing to the cash-strapped government slightly dropped 29 basis points from historical high above 15% in the recent past, as the Ministry of Finance borrowed significantly less than its set target on Wednesday. The cut-off yields dropped in the range of 5-29 basis points on three…
-
Govt ready to make tough decisions | The Express Tribune
.
[ad_1] ISLAMABAD: Pakistan on Wednesday reassured the International Monetary Fund (IMF) that it was ready to take the much-needed tough economic measures, including increase in electricity and petroleum product prices, as both sides were locked in parleys to save the economy from default. The fresh commitment – the second in the past four weeks –…
-
Traders slash mango export target | The Express Tribune
.
[ad_1] KARACHI: Pakistani exporters have lowered the mango export target this season mainly owing to a decline in mango output amid a host of other reasons including climate change. Pakistan is facing 50% to 60% drop in mango production this year due to the effects of climate change and high temperatures. Besides, shortage of electricity…
