The foreign exchange reserves of the State Bank increased by $18 million to $11.274 billion during the week ending on Nov 1, announced by the central bank on Thursday. However, the country’s total reserves declined by $118m to $15.9bn during the week. The forex holdings of commercial banks also noted a drop of $137m to $4.8bn. Experts said the SBP reserves are enough to cover the country’s two
The local gold prices on Thursday witnessed a drastic fall of Rs4,630 per 10-gram and Rs5,400 per tola on Thursday, as international prices plunged by $65 per ounce after the victory of Donald Trump. As per All Sindh Saraf and Jewellers Association (ASSJA), the new prices of 10-gram and one-tola (24kt) are Rs237,311 and Rs276,800, respectively, while international gold price stood lower at $2,6
Urea prices are likely to increase by at least Rs100 per bag owing to the government’s commitment to the IMF to implement a semi-annual gas tariff adjustment by February 2025. In its recent report, the IMF revealed that the federal government has agreed to announce the adjusted tariff rates semi-annually to meet the revenue requirements of the Sui companies. Recently, both Sui Southern Gas C
The Sugar Advisory Board (SAB) has turned down the request for additional exports and warned that the export permits of mills that do not pay farmers’ dues would be revoked. The decision was made during a board meeting chaired by Federal Minister for Industries and Production Rana Tanveer Hussain. The meeting was attended by Commerce Minister Jam Kamal Khan and representatives from the Pakist
Leader of the Opposition in the National Assembly Omar Ayub Khan has said the government plans to introduce a mini-budget due to its failure to meet IMF targets, which the opposition will strongly condemn as the masses endure worsening economic conditions and continuous price hikes. Speaking to the media outside the Peshawar High Court on Thursday, the PTI leader criticised the government’s han