Tag Archives: Finance

Pakistan Government Reduces Fuel Prices for October 2024 On Monday, the federal government of Pakistan announced a reduction in fuel prices that will come into effect starting October 1, 2024. This reduction brings relief to the general public and businesses alike, as fuel prices have a significant impact on transportation and inflation. Petrol Price Cut The price of petrol has …

In a recent meeting of the Senate Standing Committee on Finance, it was revealed that Pakistani citizens have forgotten about Rs97 billion lying dormant in their bank accounts. This significant sum is spread across 10.4 million temporarily closed accounts in various banks throughout the country. Dormant Accounts and Forgotten Funds The meeting, chaired by Senator Saleem Mandviwala, highlighted that these …

Federal Finance Minister Mohammad Aurangzeb recently suggested that there may be opportunities for further reductions in interest rates. Speaking at an event hosted by the Karachi Chamber of Commerce, Aurangzeb emphasized the crucial role of effective macroeconomic governance in fostering economic growth. He noted that structural issues in the economy often lead to balance of payment problems, particularly as growth …

The international bullion market saw a rise in gold prices on Monday, with the price of gold per ounce increasing by $4 to reach $2,390. This uptick in global prices has led to a corresponding rise in local gold markets. In Pakistan, the price of 24-karat gold per tola rose by PKR 200, reaching PKR 252,700. The price of 10 …

On Monday, Fitch Ratings upgraded Pakistan’s long-term foreign currency issuer default rating (IDR) from CCC to CCC+. This upgrade reflects an improvement in Pakistan’s external liquidity and funding conditions, buoyed by recent agreements with the International Monetary Fund (IMF). Fitch highlighted the significant progress under the previous IMF arrangement, which helped Pakistan reduce its fiscal deficits and rebuild its foreign …

The State Bank of Pakistan (SBP) has announced a one percentage point reduction in its key interest rate, bringing it down to 19.5%. This decision was revealed by SBP Governor Jameel Ahmad during a media briefing following the recent monetary policy meeting. Ahmad attributed the rate cut to a gradual decrease in inflation and signs of economic recovery. The monetary …

US Senator Cynthia Lummis announced on Saturday her intention to introduce legislation for a groundbreaking “1-million-unit Bitcoin purchase program.” This proposed initiative aims to create a strategic Bitcoin reserve to enhance the strength of the US dollar and solidify the nation’s position in the global financial system. The program, valued at over $68 billion based on current Bitcoin prices, seeks …

We have some significant changes coming up at PakFinanceHub. After much consideration and effort, we’ve decided to rebrand and transition back to our original name, KhashifTalks. For those who may not be familiar, PakFinanceHub was launched with the vision of providing comprehensive financial news, stock analysis, and investment advice. My team and I, led by Khashif Sarfraz, poured our heart …

The Board of Directors of Pakistan Hotels Developers Limited (PSX: PHDL) held a meeting on July 8, 2024, where they recommended an Interim Cash Dividend of Rs. 725 per share, equivalent to 7250 percent, for the financial year ending June 30, 2025. Key Highlights: Interim Cash Dividend: The announced dividend is Rs. 725 per share (7250 percent), a significant payout …

In a recent announcement, the Finance Ministry has revealed that the government closed the first quarter of the current fiscal year (July-Sept 2023-24) with a budget deficit of 0.9 percent of the Gross Domestic Product (GDP) or Rs 962.801 billion. Budget Deficit Analysis: The consolidated data of fiscal operations, made public by the Finance Ministry, shows that during the first …