Browsing Category

Business

Pakistani rupee falls to yet another historic low against USD

 Pakistani rupee continued to tumble against the US dollar, breaching yet another important threshold of 195 the interbank market to hit its weakest level on Tuesday. Maintaining its downturn for the eighth successive working day, the Pakistani rupee was being traded at Rs195.5 against the greenback during intraday trading surpassing its last…

Govt approves massive subsidy of Rs55.48b for keeping oil prices…

ISLAMABAD - The federal government has approved another massive subsidy of Rs55.48 billion for keeping oil prices unchanged on fortnightly basis despite increase in prices in international market. Finance Minister Miftah Ismail on Sunday made the announcement to keep oil prices unchanged. Following the decision, the Economic Coordination…

All provinces to develop cluster of industries under CPEC: Ahsan

BEIJING - The China-Pakistan Economic Corridor (CPEC) has a portfolio of projects in different provinces in Pakistan, depending upon their requirements and their areas of competency. And based on different comparative advantages, every province will develop its own cluster of industries, Federal Minister for Planning, Development and Special…

Pakistan earns $1,947 million from IT services’ export in 3 quarters

ISLAMABAD - Pakistan earned $1,947.902 million by providing different information technology (IT) services in various countries during the first three quarters of fiscal year 2021-22. This shows growth of 29.27 percent as compared to $1,506.860 million earned through provision of services during the corresponding period of fiscal year 2020-21,…

Rupee plunges to Rs195 in open market

ISLAMABAD - Exchange rate of Pak rupee weakened by Rs 1.66 against the US dollar in the interbank trading on Monday and closed at Rs194.18 against the previous day’s closing of Rs 192.52. According to the Forex Association of Pakistan (FAP), the buying and selling rates of dollar in the open market were recorded at Rs193 and Rs 195 respectively.…

PSX loses 819 points

ISLAMABAD - The KSE 100-index of the Pakistan Stock Exchange (PSX) witnessed bullish trend on Monday, losing 819.14 points, with a negative change of 1.88 percent, closing at 42,667.32 points against 43,486.46 points on the last working day. A total of 250,446,894 shares were traded during the day compared to the trade of 208,112,603 shares the…

SECP issues Stewardship Guidelines for Institutional Investors

ISLAMABAD - Aiming to promote long-term value creation and “responsible” engagement of institutional investors with the investee companies, the Securities and Exchange Commission of Pakistan (SECP) has issued the Stewardship Guidelines for Institutional Investors. The guidelines are applicable to the Asset Management Companies, Pension Fund…

Salik Hussain visits Board of Investment

ISLAMABAD - Chaudhry Salik Hussain has visited Board of Investment after assuming charge as the Federal Minister for Board of Investment. The minister was given a warm welcome by Secretary BOI Ms Fareena Mazhar and other senior officers of the Board of Investment. He was given a detailed briefing regarding working of BOI and was also sensitized…

POL import bill surges 95pc to $17 billion in 10 months

ISLAMABAD - The imports of overall petroleum group witnessed an increase of 95.84 percent during the first ten months of the current fiscal year (2021-22) as compared to the corresponding period of the last year. During the period under review, the total imports of the petroleum group stood at $17.033 billion, as against the imports of $8.697…

Import of cotton, other raw materials of textile industry crosses $3.9…

KARACHI - Pakistan’s import of cotton and other raw materials of textile industry crossed $3.9 billion during July-April 2021-22, showing 25 % growth over the corresponding period of the previous financial year. According to data released by Pakistan Bureau of Statistics, total value of imports of textile group in first ten months of fiscal year…

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More