The Pakistani rupee experienced a slight dip against the US dollar on Monday, declining by 0.05% in the inter-bank market. By the end of the day, the currency stood at Rs278.57, marking a loss of 15 paisa. Last week, the rupee also saw a modest depreciation, falling by 30 paisa, or 0.11%, in the inter-bank market. According to the State Bank of Pakistan (SBP), the local currency closed the w
Mobile phone manufacturers have pleaded for implementation of a localisation policy and price reduction while controlling cellphone smuggling to promote the local industry. There are around 36 local assembling units, which are meeting 95% of demand. It suggests that the local industry has almost taken over the market with the creation of 40,000-50,000 job opportunities. Almost all big brands ar
Cabinet members have urged Prime Minister Shehbaz Sharif to introduce uniform gas prices in a bid to do away with alleged favouritism, which benefitted certain manufacturers. At present, different gas prices are being charged from urea manufacturers. Some are paying lower tariffs whereas some others are asked to pay higher rates. However, all manufacturers are receiving same prices for ferti
Foreign loan disbursements dropped 43% to $3.6 billion in the first five months of the current fiscal year due to slower-than-expected releases, showed the official statistics on Monday. Against loans of $6.4 billion received during the July-November period of last fiscal year, Pakistan got $3.6 billion from bilateral and multilateral creditors during this fiscal year, according to figures repo
Bullish momentum continued at the Pakistan Stock Exchange (PSX) as shares climbed more than 4,000 points on Monday. The benchmark KSE-100 index climbed 3,021.94, or 2.76 per cent, to stand at 112,535.08 points from the previous close of 109,513.14 at 11:18am. At 2:46pm, the index stood at 113,874.01, up by 4360.87 points or 3.98pc, from the last close. Finally, the index closed at 113,924.41