The rupee experienced a minor decline against the US dollar, depreciating by 0.03% in the interbank market on Monday. By the close of trading, the rupee settled at 278.83, reflecting a loss of 8 paisa compared to the previous trading day. Over the past week, the rupee remained relatively stable, closing at 278.75, a slight drop from 278.71, according to the State Bank of Pakistan (SBP). Market
The monetary policy committee (MPC) of the State Bank of Pakistan (SBP), in its meeting on Monday, announced the sixth successive reduction in policy rate, bringing it down by 100 basis points (bps) to 12%, effective January 28, 2025. The decision comes amid key economic developments, including improved activity in the real sector, a cumulative surplus in current account, a significant increase
The Special Investment Facilitation Council (SIFC) has facilitated the energy sector by opening gas market for the private sector, which is expected to contribute Rs71 billion per year to circular debt reduction. Additionally, the government will collect Rs13 billion annually on account of sales tax. These remarks were made by Universal Gas Distribution Company CEO Ghiyas Abdullah Paracha. C
Sindh Minister for Livestock and Fisheries Muhammad Ali Malkani has said that the provincial government is taking all necessary steps to increase seafood exports and is in contact with the federal government in this regard. Speaking during the Question Hour in the Sindh Assembly on Tuesday, Malkani replied to various written and supplementary questions from members. He informed the assembly tha
Rejecting the 1% cut in interest rate as tiny, industrialists and traders have asked the State Bank of Pakistan (SBP) to do more, with a view to boosting economic growth. They said the poor economic strategy of the government and the central bank dismayed the entire business community of the country. They called for a more holistic and pragmatic approach to monetary policy, one that aligns not