Economy

Introduction For the third consecutive fortnight, the prices of major petroleum products—petrol and high-speed diesel (HSD)—are anticipated to decrease by approximately Rs5-6 per litre. This reduction is primarily attributed to the declining international market rates for the fortnight commencing September 1. International Market Influences Informed sources have indicated that the prices of petrol and HSD have fallen in the international …

SBP Foreign Exchange Reserves Post Marginal Weekly Increase The State Bank of Pakistan (SBP) has reported a slight increase in its foreign exchange reserves for the week ending August 16, 2024. According to the latest data released by the central bank on Thursday, the reserves held by the SBP have risen by $19 million on a weekly basis. The Numbers …

Pakistan is facing potential threats to its exports and foreign direct investment (FDI) due to the possibility of failing to meet global climate change compliance requirements. As international buyers increasingly demand transparency from domestic producers regarding their environmental practices, Pakistan’s position in the global market could be jeopardized. At the launch of the report titled “Pakistan’s Climate Crossroads: Private Sector …

The US dollar maintained its upward momentum in the interbank market on Thursday, increasing by eight paisas and bringing its value to Rs278.60. This rise follows a similar increase on Wednesday when the dollar gained 11 paisas, reaching Rs278.45. The recent surge in the dollar’s value is attributed to the continued delay in the approval of Pakistan’s much-anticipated $7 billion …

SBP to Replace All Currency Notes with Polymer by Year-End The State Bank of Pakistan (SBP) is set to introduce a significant change in the nation’s currency landscape. Governor Jameel Ahmad has announced that all currency notes will be replaced with new ones made from polymer paper by the end of this year. This announcement was made during a briefing …

In response to the growing global concerns about the spread of the monkeypox virus, the government of Pakistan has issued new guidelines to airports across the country, following the directives of Prime Minister Shehbaz Sharif. These measures aim to strengthen screening and preventive protocols at all entry points to safeguard public health. Strengthened Screening Measures at Entry Points According to …

ACCORDING TO SAMAA, The Chairman of the Pakistan Telecommunication Authority (PTA), Major General (retd) Hafeez-Ur-Rehman, addressed the ongoing controversy surrounding the installation of a firewall system during a session of the Standing Committee of the National Assembly on Information Technology. In a carefully worded statement, he clarified that the system in question is not a new firewall but an upgraded …

On Wednesday, State Bank Governor Jameel Ahmed announced that the design of Pakistan’s currency notes would be revamped by December. This announcement was made during a session of the Senate Standing Committee on Finance, chaired by Senator Salim Mandviwala. The revamped notes will feature enhanced security elements, addressing the need for modernized and secure currency in Pakistan. Revamping the Currency …

The Pakistani government announced on Tuesday its need for Rs32 trillion in loans for the fiscal year 2024-25, relying heavily on rollovers from foreign banks and bilateral lenders. The success of this borrowing plan is contingent on the timely approval of the International Monetary Fund (IMF) programme and continued financial support from China. Key Aspects of the Borrowing Plan The …

Suspension of Trading in Mughal Iron & Steel Industries Limited Sukuk [MUGHALSC] In a recent update from the Pakistan Stock Exchange (PSX), trading in the Sukuk of Mughal Iron & Steel Industries Limited, identified by the symbol [MUGHALSC], will be suspended due to the company’s book closure dates. Key Dates and Suspension Details Mughal Iron & Steel Industries Limited has …