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Financial markets buoyed by Pakistan-IMF deal
Following a staff level agreement between Pakistan and the International Monetary Fund (IMF), The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) went beyond 57,000 points while the rupee also recovered against the dollar…
‘Close’ to agreement with Pakistan on review: IMF chief
Kristalina Georgieva, managing director of the International Monetary Fund (IMF), said a review of policy talks with Pakistan is expected to come within this week.
"I expect the review agreement to come within this week. So any day now,…
Workers’ remittances increase by 11.5% in October
Karachi: Remittances from overseas workers recorded $ 2.5 billion in October, an increase of 11.5% per month, The State Bank of Pakistan (SBP) said in a statement Friday.
“ In terms of growth, during October 2023, remittances increased…
Hopes of IMF deal sees index climb above 42,000 points
The Pakistan Stock Exchange (PSX) saw bullish trading on Thursday, with the index rising by 1.78 percent over the previous close.
After a positive week that saw the index regain some of its lost glory, the index opened at 41,723.32…
Nine year low: SBP’s forex reserves fall below $3b
The State Bank of Pakistan (SBP) released data on Thursday evening showing that Pakistan's foreign exchange reserves decreased to $8.540 billion for the week ending February 3, 2023.
Due to payments on external debt, the reserves,…
FBR sweetens pot for its officials, offers incentives of up to Rs3m
These officers will receive a monthly allowance of up to Rs40,000 from the fund, which will take effect on March 1, 2023.
In addition, these FBR officers will be able to get Rs. 3 million for a one-time purchase of furniture and…
IMF focuses on raising revenues
Pakistan will have to raise its tax target from Rs7.47 trillion to Rs8.3 trillion in order to improve the tax-to-GDP ratio and eliminate tax exemptions, according to IMF representatives who spoke with finance ministry officials and the…
Pakistani rupee becomes fastest depreciating currency in region
In the interbank market on Monday, January 30, the dollar gained another Rs7.03—a 2.6 percent increase.
In contrast, only Bangladesh, Sri Lanka, Vietnam, and the Philippines saw their currencies lose value on Monday out of 12 regional…
No respite: Petrol, diesel price in Pakistan swell by Rs35
Federal Finance Minister Ishaq Dar made the announcement in a televised speech.
As of right now, the new prices are in effect.
The minister said that OGRA had asked Prime Minister Shehbaz Sharif and the government to immediately…
Toyota top-selling automaker for third year running
Last year, Toyota and its subsidiaries sold approximately the same number of vehicles as in 2021—nearly 10.5 million—despite the chip shortage and supply chain disruption caused by Covid.
In contrast, Volkswagen Group sold 8.3 million…