Pakistani currency dropped Rs0.05 and closed at Rs278.73 against the US dollar in the inter-bank market on Wednesday, maintaining its losing streak for the third consecutive day amid conflicting reports about the resumption of smuggling of foreign currencies from Pakistan to neighbouring countries. According to the State Bank of Pakistan (SBP) data, the rupee has cumulatively dropped Rs0.23 in
Industrialists have urged the revitalisation of the Pakistan Post Office, stressing that with useful reforms, the institution could become profitable again. They stated that the Post Office is currently facing severe challenges due to prolonged neglect, mismanagement, and corruption. Despite offering essential services such as communication, remittances, and postal deliveries, the department is on
Pakistan's central bank Governor, Jameel Ahmad, announced on Wednesday that inflation might surge in the coming months due to budgetary measures, rising energy prices, and the ongoing situation in the Middle East. However, he assured that the foreign debt repayment crisis is now over. He further stated that Pakistan's foreign exchange reserves cover remains below the minimum threshold, standing
BF Biosciences Limited (BFBL) has applied for listing on the main board of the Pakistan Stock Exchange (PSX), seeking to raise a minimum of Rs1.37 billion by selling 25 million shares to institutional, high net worth, and individual investors, pending regulatory approval. The pharmaceutical company plans to use the funds to purchase new plant and machinery, expand its product range, introduce new
The energy ministry had embarked upon major reforms, including operationalisation of an energy exchange, which would allow the power plants to sell electricity to the buyer, Energy Minister Awais Leghari said on Wednesday. Leghari told the Senate Standing Committee on Energy that the ministry was currently facing problems related to high electricity prices. He assured that every possible relief