The government has quietly slashed profit rates on all national savings schemes — both conventional and Sharia-compliant — within a month, dealing a fresh blow to small investors, particularly pensioners, widows, and low-income savers. Despite repeated adjustments, the Central Directorate of National Savings (CDNS), which operates under the Ministry of Finance, continues to withhold timely publ
The government seems willing to fast-track the adoption of crypto currencies for banks, foreign exchange companies and gold trading, sources told Dawn after a high-level meeting on Tuesday. A day earlier, representatives from the State Bank of Pakistan, finance ministry, commercial banks and exchange companies met with senior security officials to discuss steps to bring down the dollar price,
Electricity tariffs for consumers of all distribution companies (Discos), including K-Electric, are likely to decrease by Rs1.51 per unit for three months due to lower capacity charges, driven by reduced interest and exchange rates and revisions in power purchase contracts with both public and independent power producers (IPPs). The National Electric Power Regulatory Authority (Nepra) has sched
The government’s crackdown on black market dollar trading has strengthened the rupee, but traders say under-the-counter deals have swiftly shifted to smartphones and home deliveries instead. Many unlicensed exchange shops have been shut since July 22, when the military spy agency summoned representatives of the sector to explain the US dollar’s rising cost in the open market. Soon after, raids
The Pakistan Business Forum (PBF) on Monday claimed that both interest and exchange rates were being kept artificially high without economic justification, and appealed to Prime Minister Shehbaz Sharif to ensure a correction to support growth and stability. In a statement, PBF Chief Organiser Ahmad Jawad asserted that the fair value of the US dollar was around Rs260, while prevailing inflation