Tag Archives: inflation

Pakistan’s Forex Reserves Reach $11 Billion After 30-Month Gap Pakistan’s foreign exchange reserves, held by the State Bank of Pakistan (SBP), rose to over $11 billion as of October 11, 2024. This marks an increase of $215 million in a week and a significant milestone after 30 months. The reserves have grown for 12 consecutive weeks, reflecting an overall increase …

PSX KSE-100 Crosses 86,000 for the First Time but Closes Flat The Pakistan Stock Exchange (PSX) experienced a volatile session on Wednesday as its KSE-100 Index crossed 86,000 points during intra-day trading, marking the first time in history. However, late-selling pressure caused the index to retreat and close flat. Record-Breaking Intra-Day High The KSE-100 Index began the session with strong buying …

Weekly Inflation in Pakistan Falls for Fourth Straight Week Pakistan’s inflation has shown a much-needed downward trend for the fourth consecutive week, offering slight relief to consumers. According to data released by the Pakistan Bureau of Statistics (PBS), the Sensitive Price Index (SPI)-based inflation for the week ending September 5, 2024, dropped by 0.15%. This decline marks a continued easing …

Market Overview: Positive Close Amid Volatility The Pakistan Stock Exchange (PSX) managed to close in the green on Tuesday, overcoming a volatile trading session. The positive close was primarily driven by expectations of a third consecutive interest rate cut by the State Bank of Pakistan (SBP) in its upcoming Monetary Policy Committee meeting scheduled for September 12. Ahsan Mehanti, an …

US Dollar Gains Against Pakistani Rupee in Interbank Market On Tuesday, the US dollar appreciated by six paisas against the Pakistani rupee, reaching Rs278.70 in interbank trading. This marginal gain reflects ongoing volatility in the currency market as Pakistan navigates a complex economic landscape. Improved Economic Indicators Highlight Positive Shift The Ministry of Finance has released its latest monthly economic …

Pakistan’s Inflation Rate Hits 34-Month Low Pakistan’s Consumer Price Index (CPI) rose by 9.6% year-on-year (YoY) in August 2024, marking the lowest inflation rate in 34 months. Notably, according to the Pakistan Bureau of Statistics (PBS), this represents a significant drop from the 11.1% recorded in July 2024 and, moreover, a dramatic decline from the 27.4% inflation rate in August …

Inflation Forecast and Economic Outlook August 2024 In a recent update, the government has projected a reduction in inflation to a range of 9.5-10.5% for August 2024. This forecast comes amidst positive trends in key economic indicators and efforts to stabilize the economy. The projection also suggests a further decline in inflation to 9-10% by September 2024, offering a cautiously …

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 …

Prime Minister Shehbaz Sharif has recently taken a decisive step in Pakistan’s economic planning by delegating the responsibility of developing a “home-grown economic development plan” to Deputy Prime Minister Ishaq Dar. This move comes after expressing dissatisfaction with the draft prepared by UK economist Stefan Dercon. Formation of Ministerial Committee A notification from the Prime Minister’s Office announced the formation …

The Economic Coordination Committee (ECC) of the Cabinet, chaired by Finance Minister Muhammad Aurangzeb, approved a substantial Rs60 billion relief package on Thursday to provide subsidized essential goods to poorer households. This move represents a 71% increase from the previous year’s allocation, driven by a significant rise in the prices of basic commodities. Key Features of the Relief Package The …