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PSX closes lackluster session with loss of 243 points

KARACHI: Pakistan Stock Exchange (PSX) witnessed bearish trend on Friday, losing 243.42 points, a negative change of 0.57 percent, closing at 42150.10 against 42393.52 points on the previous day. A total of 143,209,118 shares were traded during the day as

PKR remains stable against US dollar in interbank

KARACHI: Pakistanis rupee on Friday remained unchanged against the US dollar in the interbank market. As per the State Bank of Pakistan (SBP), the rupee settled at 223.69 against the greenback on Friday. On a weekly basis, the rupee registered

OGRA increases LPG price by Rs11.79 per kilogram

The Oil and Gas Regulatory Authority (OGRA) on Thursday increased the price of liquefied petroleum gas (LPG) by Rs11.79 per kilogram for the month of December. As per a notification issued by the regulator, LPG will cost Rs215.95/kg from today

Government borrows heavily from banks for budgetary support

ISLAMABAD: The federal government has borrowed Rs215 billion from commercial banks for budgetary support. As per details, the incumbent government borrowed Rs215 billion from commercial banks by selling treasury bills. The government got proposals of Rs646 billion compared to the

PKR gains Rs0.26 against dollar in interbank

KARACHI: The Pakistani rupee gained 0.12 percent against the US dollar on Thursday in the interbank market after remaining unchanged for two sessions. As per the State Bank of Pakistan (SBP), the rupee closed at 223.69 after an increase of

CPI-based inflation in November rises to 23.8 percent

Consumer Price Index (CPI)-based inflation recorded at 23.8% in November 2022 on a year-on-year (YoY) basis. On a month-on-month basis, it increased to 0.8% in November 2022 as compared to an increase of 4.7% in the previous month, showed data

Commission constituted for reforms and resources mobilization

ISLAMABAD: Federal Minister for Finance and Revenue, Senator Mohammad Ishaq Dar here on Thursday constituted an independent eleven-member Reforms and Recourse Mobilization Commission (RRMC) for resource mobilization and for giving recommendations to finance minister on budget and tax-related issues and

PPA appeals PM to stop closure of poultry industry

KARACHI: Pakistan Poultry Association has appealed to Prime Minister Shehbaz Sharif to stop the closure of the poultry industry as poultry is the cheapest and high protein quality feed. According to details, the Pakistan Poultry Association in a video statement

Euro zone inflation rate eases slightly to 10pc

BRUSSELS:  Inflation in the euro zone slowed slightly in November, according to preliminary figures out Wednesday, with prices coming off record highs and missing analyst expectations. Consumer prices have been sky high across the 19-member region for several months. Inflation

PSX stages turnaround as KSE-100 index gains 302 points

KARACHI: The Pakistan Stock Exchange (PSX) witnessed a turnaround on Tuesday just a day after the benchmark index plummeted nearly 2 percent as KSE-100 Index rose 0.72 percent as a host of positive triggers boosted investor sentiment. Market investors received

FBR sets up check posts to monitor supplies from tax-exempted areas

ISLAMABAD: The Federal Board of Revenue (FBR) has established 16 Inland Revenue check posts with mobile teams on the routes originating from tax-exempt areas of Azad Jammu and Kashmir, Gilgit-Baltistan and erstwhile tribal areas to check documents of goods coming

E&P companies discover 16 hydrocarbon deposits in 2021-22

ISLAMABAD: Exploration and Production (E&P) companies, operating in different parts of the country, have collectively discovered 16 oil and gas reservoirs during the last fiscal year in pursuit of making the country self-reliant in the energy sector. Out of these,

PKR remains stable at 223.95 against dollar in interbank

KARACHI: Pakistani rupee on Tuesday remained stable against the US dollar in the interbank market. As per the State Bank of Pakistan (SBP), the rupee closed at 223.95. Interbank closing #ExchangeRate for todayhttps://t.co/C7545PPkrJ pic.twitter.com/P5jz1TsQdO — SBP (@StateBank_Pak) November 29, 2022

Pakistan, IMF begin virtual engagement for 9th review of loan program

Pakistan and the International Monetary Fund (IMF) have begun a virtual engagement for ninth review of a $7 billion loan program as the government has shared fiscal data, including flood and related expenditures, with the IMF, the Finance Ministry said

PKR remains stable against US dollar in interbank market

KARACHI: Pakistani rupee on Monday registered marginal loss against the US dollar, depreciating 0.01% in the interbank market. As per the State Bank of Pakistan (SBP), the rupee closed at 223.95 after a decrease of Rs0.01. Interbank closing #ExchangeRate for

PSX plunges 900 points as market reacts negatively to rate hike

KARACHI: Pakistan Stock Exchange’s benchmark KSE-100 index plunged nearly 900 points on Monday as selling pressure is being witnessed across the board after the 100bps policy rate hike announced by the State Bank of Pakistan (SBP) last week. The benchmark

Govt plans to deregulate Petroleum products’ market by 2027

ISLAMABAD: The government has planned to fully deregulate its petroleum products market by 2027 after the country’s oil refineries make necessary technical upgradation in 2026, according to the draft of the upcoming Pakistan Oil Refining Policy. Oil marketing firms and

SBP’s governor says Pakistan to repay $1bn bond before date

ISLAMABAD: Pakistan will repay a $1 billion international bond on December 2, three days before its due date, the governor of Pakistan central bank said on Friday. Given that Pakistan is recuperating from terrible floods that claimed more than 1,700

PSX gains 33 points in range-bound session

KARACHI: Pakistan Stock Exchange (PSX) on Friday gained 33.08 points after a mixed session, closing at 42936.73 against 42903.65 points on the previous day. A total of 177,297,274 shares were traded during the day as compared to 153,126,848 shares the

SBP raises interest rate to 16 percent, the highest since 1999

KARACHI: The State Bank of Pakistan on Friday increased the interest rate by 100 basis points (bps) to 16 percent, taking it to 16 percent, the highest since 1999. The development comes against expectations as a majority of market participants

Weekly inflation rises 0.48 percent

The Sensitive price Indicator (SPI) based weekly inflation for the week ended on November 24 for the combined consumption group witnessed an increase of 0.48 percent as compared to the previous week. The SPI for the week under review in

Pakistan’s GDP growth will shrink to 2.1 percent in FY23: report

Pakistan’s GDP growth is anticipated to significantly drop down to 2.1% in the current fiscal year as a result of political unrest and troubling economic indicators (FY23), Egyptian financial services provider EFG Hermes, said in a report released on Friday.

PKR remains stable against dollar in interbank

KARACHI: Pakistani rupee on Friday registered marginal loss against the US dollar, depreciating 0.01 percent in the interbank market. As per the State Bank of Pakistan (SBP), the rupee closed at 223.94 after a decrease of Rs0.02. Interbank closing #ExchangeRate

Alarm bell: SBP’s forex reserves fall $134mn to $7.83bn

KARACHI: The State Bank of Pakistan (SBP) foreign exchange reserves have decreased $134 million on a weekly basis, clocking in $7.83 billion as of November 18, 2022, according to data released on Thursday. Total liquid foreign reserves held by the

SBP makes bank account mandatory for forex transactions above $2,000

KARACHI: The State Bank of Pakistan (SBP) has made it mandatory to open an account before buying $2,000 or above in order to restrict dollar outflows from the country. State Minister for Finance Aisha Ghaus Pasha on Wednesday informed this

88,317 tax cases involving Rs2.6 trillion pending with courts: FBR

ISLAMABAD: Around 88,317 cases, involving Rs2611.7 billion, have been pending with different courts of the country as on October 31st, 2022, according to Federal Board of Revenue (FBR) data. Among these pending cases, 75,021 cases involving Rs2382 billion are related

PKR settles at Rs223.92 against dollar after marginal loss

KARACHI: Pakistani rupee Thursday registered marginal depreciation against the US dollar, falling 0.05 percent in the interbank market.  As per the State Bank of Pakistan (SBP), the rupee closed at 223.92 after a decline of Rs0.11. Interbank closing #ExchangeRate for

Pakistan’s exports increase by 35.7% to Rs2.13 trillion in 4 months

ISLAMABAD: The exports from the country in the rupee term witnessed an increase of 35.77 per cent during the first four months of the current fiscal year (2022-23) as compared to the corresponding period of last year, Pakistan Bureau of

PSX maintains bullish trend, gains 167 points

KARACHI: Pakistan Stock Exchange (PSX) on Tuesday continued its bullish trend, gaining 167.44 points, depicting a slight positive change of 0.39 percent, closing at 42928.63 against 42761.19 points on the previous day. A total of 195,973,380 shares were traded during

China, Pakistan to expand cooperation under CPEC: Mao Ning

BEIJING: China and Pakistan have expanded cooperation under the China-Pakistan Economic Corridor (CPEC) and made notable progress in areas such as green, information technology, industrial development and health, Chinese Foreign Ministry Spokesperson, Mao Ning said on Monday. “CPEC is the