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Islamabad
Friday, May 24, 2019
Pakistani rupee plunged to a new all time-low in the interbank and open market, on Tuesday, as it continues to lose value against US dollar. The greenback saw an increase of Rs 1.36, touching Rs 151. In the open market,...
The business community has vehemently demanded a result-oriented crackdown against the dollar mafia, which is playing havoc with the economy of Pakistan. In a statement issued on Monday, Pak US Business Council Chairman Iftikhar Ali Malik said that the sharp...
The State Bank of Pakistan (SBP), on Monday, announced its monetary policy, increasing its benchmark interest rate by 150 basis points (bps) to 12.25 per cent, effective from May 21. "The monetary policy committee noted that further policy measures...
The Pakistan stock market came under massive selling pressure, as it dropped over 780 points to a 38-month low of 32,385 in intra-day trading, on Monday. Market analysts said investors extended selling on expectation for key interest rate hike by...
Apart from technical compliance, Pakistan needs to launch an aggressive diplomatic effort over the next four weeks to secure enough support and votes to exit the grey list of the Financial Action Task Force (FATF) — the global watchdog...
The rupee continued to fall to record lows on Friday, after the government agreed in principle to a $6 billion loan from the International Monetary Fund (IMF). The rupee, which lost 3.6 per cent, on Thursday, to close at 146.2...
The technical teams of the government and the International Monetary Fund (IMF) have reached an agreement on a bailout package for Pakistan, Adviser to Prime Minister on Finance, Revenue and Economic Affairs Dr Abdul Hafeez Shaikh announced on Sunday. "After months of...
When Denmark’s state energy company changed its name in 2017, almost everyone involved agreed it was high time: after all, it was called DONG Energy. (It originally stood for Danish Oil and Natural Gas.) The revamp was also part of...
Lahore’s Metro Bus Service isn’t going to cost Rs 20 anymore. Prime Minister Imran Khan is doing away with the subsidy for the service. The premier said large subsidies are creating a burden on the economy. The removal of the...
The newly appointed Chairman Federal Board of Revenue, Syed Muhammad Shabbar Zaidi is a regular tax payer and paid Rs 17.89 million (Rs 17,897,927) in the tax year 2018. According to documents seen by APP the new FBR Chief having...
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