Karachi, July 20, 2023 – Pakistan’s foreign exchange reserves have experienced a substantial increase, reaching $14.07 billion, thanks to significant inflows from the International Monetary Fund (IMF) and other friendly countries.
(more…)Category: Top stories
Top stories featuring the most important and trending news updates from politics, business, world affairs, and breaking events across various sectors.
-
Gold Prices in Pakistan Witness Unanticipated Drop Amid Currency Devaluation
Karachi, July 20, 2023 – In a twist of events, gold prices in Pakistan experienced an unexpected and significant decline on Thursday, July 20, 2023, despite the devaluation of the local currency against the US Dollar.
(more…) -
PKR Continues to Slide Against USD, Closes at PKR 285.15 in Interbank
Karachi, July 20, 2023 – The Pakistani Rupee (PKR) experienced its fifth consecutive day of decline, reaching a closing rate of PKR 285.15 against the US dollar in the interbank foreign exchange market on Thursday.
(more…) -
Pakistani Banks Face Sovereign Risk amid Rising Government Debt: IMF Report
Karachi, July 20, 2023 – Pakistani banks are exposed to sovereign risk due to the escalating levels of government debt, warned a report issued by the International Monetary Fund (IMF).
(more…) -
SBP Commits Not to Launch New Refinancing Schemes, IMF Country Report States
Karachi, July 20, 2023 – The State Bank of Pakistan (SBP) has made a commitment not to introduce new refinancing schemes, according to the latest country report on Pakistan issued by the International Monetary Fund (IMF).
(more…) -
Pakistan Rules Out Additional Tax on Agriculture Income
Islamabad, July 19, 2023: Coordinator to Prime Minister on Economy and Energy, Bilal Azhar Kayani, categorically stated on Wednesday that the government has no intentions of imposing additional taxes on the income of the agriculture sector.
(more…) -
Pakistani Rupee Continues to Depreciate Against Dollar; Ends at PKR 283.80
Karachi, July 19, 2023 – The Pakistani Rupee (PKR) experienced yet another fall against the US dollar on Wednesday, closing at PKR 283.80 in the interbank foreign exchange market.
(more…) -
UBL Reports Over Fourfold Surge in Quarterly Net Profit
Karachi, July 19, 2023 – United Bank Limited (UBL), one of Pakistan’s largest banks, has witnessed a remarkable over fourfold surge in net profit for the quarter ending June 30, 2023.
(more…) -
Pakistan Plans New Trading Platform for Spot Transactions
Karachi, July 19, 2023 – Pakistan is set to establish a new trading platform for spot exchange rate transactions, as part of its commitment to the International Monetary Fund (IMF).
(more…) -
FBR Obliged to Share Large Taxpayers’ Data with IMF
Karachi, July 19, 2023 – The Federal Board of Revenue (FBR) in Pakistan is mandated to share data on the total number of large taxpayers in the country with the International Monetary Fund (IMF).
(more…)