Gold prices in Pakistan skyrocketed to a historic high of Rs240,000 per tola on Wednesday, with 24 karat gold witnessing a massive increase of Rs9,900.
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Find top stories in this section. Pakistan Revenue brings you the latest and most important news from Pakistan and around the world, keeping you informed with key updates and insights.
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Pakistan inward remittances drop by 29% in April 2023
According to data released by the State Bank of Pakistan (SBP) on Wednesday, the inflow of foreign remittances into Pakistan has sharply dropped by 29% during the month of April 2023.
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INTERBANK CLOSING: Rupee hits historic low at PKR 290.22 to dollar
The Pakistani Rupee (PKR) Wednesday hit a historic low against the US dollar, reaching PKR 290.22 at the closing of the interbank foreign exchange market. This depreciation follows the previous record low of PKR 288.43, observed in April.
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Telecom operators count losses as Internet shutdown takes a toll on Pakistan’s economy
In a dramatic turn of events, the arrest of former Prime Minister Imran Khan has plunged Pakistan into a state of turmoil, triggering massive protests across the nation.
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Dollar hits PKR 290 at intraday trading on May 10, 2023
In a significant blow to Pakistan’s economy, the Pakistani Rupee (PKR) plunged to a historic low against the US dollar, reaching PKR 290 during intraday trading at the interbank foreign exchange market on Wednesday. This depreciation follows the previous record low of PKR 288.43, which occurred in April.
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PKR crashes to historic low against dollar at 288.50 in midday trading
In a significant blow to Pakistan’s economy, the Pakistani Rupee (PKR) experienced a historic low against the dollar, reaching PKR 288.50 during midday trading at the interbank foreign exchange market on Wednesday, May 10, 2023. This plunge follows the previous record low of PKR 288.43, which occurred during the interbank foreign exchange closing on April 11, 2023.
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New petroleum prices to be announced by Pakistan on May 15, 2023
Pakistan is gearing up to announce new petroleum prices on May 15, 2023, for the second half of the current month. The decision comes in the midst of falling value of Pakistani Rupee (PKR) and declining trend in global oil prices.
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Private sector credit offtake plunges 80% during 10MFY23
Unfriendly economic conditions have had a significant impact on the private sector credit offtake in Pakistan, with bank loans falling by 80 percent during the first ten months of the 2022-2023 fiscal year.
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Former Pakistani Prime Minister Imran Khan Arrested
On May 9, 2023, former Pakistani Prime Minister Imran Khan was arrested by the National Accountability Bureau (NAB) on charges of corruption and misuse of authority during his tenure as the Prime Minister of Pakistan. Khan, who had been leading the country since 2018, stepped down in April 2022 after his government lost a vote of confidence in the National Assembly.
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FPCCI demands immediate discontinuation of foreign exchange fines on exporters
The President of Federation of Pakistan Chambers of Commerce and Industry (FPCCI), Irfan Iqbal Sheikh, has called on the State Bank of Pakistan (SBP) to immediately discontinue the practice of commercial banks and Authorized Dealers charging 3 to 9 percent in foreign exchange fines or lien-marking on exporters’ accounts for unfounded but deemed delays in the realization of their export proceeds.
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