Tribune
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Ministry expects slow economic recovery | The Express Tribune
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[ad_1] ISLAMABAD: The Ministry of Finance said on Friday that Pakistan’s economy would recover slowly and its inflation rate would decrease gradually, the forecasts which suggest that there is no short-term respite from the current economic crisis that has impacted…
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SPI inflation rises by 24.39% | The Express Tribune
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[ad_1] KARACHI: In a concerning development, the Sensitive Price Indicator (SPI), which tracks 51 essential commodities, recorded a 24.39% increase in weekly inflation, ending on August 8, 2023, compared to the same period last year. This surge in prices is…
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New low: Rupee down by Rs5 | The Express Tribune
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[ad_1] KARACHI: Amid little availability of US dollars owing to liberalised demand, Pakistani currency slumped 1.5%, or Rs5, in a day to a new all-time low at Rs328 against the greenback in the open market, mounting pressure on inter-bank trade….
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‘No savings’ in ending free power units | The Express Tribune
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[ad_1] QUETTA/ ISLAMABAD/ LAHORE: The water affairs ministry on Thursday opposed the withdrawal of free electricity units being provided to the employees of power companies, claiming that there would be no savings while proceeding ahead with the move. The development…
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Reserves down to $7.85b | The Express Tribune
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[ad_1] KARACHI: The State Bank of Pakistan (SBP) reported a 1.02% decrease in foreign exchange reserves on a week-on-week basis, revealing a total of $7.85 billion as of August 25, 2023. The data, unveiled by the central bank on Thursday,…
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Govt in search of new FBR chief to shore up tax receipts | The Express Tribune
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[ad_1] ISLAMABAD: Interim Prime Minister Anwaarul Haq Kakar said on Thursday that the government was looking for a new chairman of the Federal Board of Revenue (FBR) to improve tax collection through documentation of the economy. The premier made the…
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PSX crashes as rupee continues to struggle against USD | The Express Tribune
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[ad_1] KARACHI: The Pakistan stock market crashed on Thursday while the rupee also maintained its downturn amid rising concerns related to stagflation and a deepening economic crisis. Pakistan Stock Exchange’s (PSX) benchmark KSE-100 Index dropped by over 1,750 points or…
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Rupee at new low as losing streak continues | The Express Tribune
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[ad_1] KARACHI: As efforts continued to narrow the gap between exchange rates, Pakistani rupee hit a new all-time low at Rs304.45 against the US dollar in the inter-bank market on Wednesday, stoking fears that inflation would remain at elevated levels…
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Govt faces IMF delay over bill crisis | The Express Tribune
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[ad_1] ISLAMABAD: The International Monetary Fund (IMF) on Tuesday did not immediately approve Pakistan’s request for recovering August’s electricity bills over a period of six months amid raging protests in many parts of the country that continued for the fifth…
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Despite crackdown, rupee touches new low | The Express Tribune
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[ad_1] KARACHI: Despite government’s claim of having launched a crackdown on foreign currency smugglers, Pakistani currency hit a new historic low at Rs303.05 against the US dollar in the inter-bank market on Tuesday, maintaining its record-breaking downward spree for the…
