Finance Minister Miftah Ismail says the serious worries about Pakistan heading the way of Sri Lanka and getting into a default like situation, have been averted after significant policy changes and austerity measures. He said the high price of energy imports recently pushed Pakistan to the brink of a balance of payments crisis. The Finance مزید پڑھیں

Oil rose over $1 a barrel on Tuesday, reversing an earlier decline, after Russia said oil exports to Europe via the southern leg of the Druzhba pipeline had been suspended since early August, reviving concern about tight supply. Russian pipeline monopoly Transneft said Ukraine had suspended oil flows via the pipeline leg because Western sanctions مزید پڑھیں

The Utility Stores Corporation has increased the prices of various items at its stores across the country following a hike in other markets of the country. According to a notification, prices of branded tea, milk, spices, honey, toothpaste, shampoo, and other items have been increased by the government after which the price of 950 grams مزید پڑھیں

Finance Minister Miftah Ismail said Friday that Pakistan was heading in the right direction, but he did not rule out the possibility of the country facing bad days ahead. In his address to an event at the Pakistan Stock Exchange (PSX) in the metropolis, the finance minister said: “We are on the right track, but مزید پڑھیں

The country’s exports of merchandise entered a negative growth in July after 22 months when the economy recovered from the impact of Covid-19. The export proceeds fell 5.17 per cent to $2.21 billion in the first month of the current fiscal year from $2.34bn in the corresponding month last year, data from the Pakistan Bureau مزید پڑھیں

The US dollar continued to lose ground against the rupee for the fourth successive session during intraday trade in the interbank market as Pakistan’s import pressure witnessed a decline in July. During Wednesday’s intraday trade, the dollar lost Rs12.38 and was being traded at Rs226 against the rupee, down from 238.38 from Tuesday’s close in مزید پڑھیں

Gold prices were subdued on Wednesday in choppy trade as a rupee appreciation and the prospect the central bank could raise interest rates after record high inflation kept investors on edge. The price of gold — considered a safe haven — plummeted by Rs3,500 per tola and Rs3,001 per 10 grams to settle at Rs154,900 مزید پڑھیں

Stocks managed to make modest gains on Tuesday, with analysts attributing it to the rupee’s recovery as well as the International Monetary Fund’s (IMF) statement that Pakistan has completed all prior actions required for the review. The benchmark KSE-100 index closed at 40,191.61 points, up 115.65 points, or 0.29 per cent from yesterday’s close. The مزید پڑھیں

The rupee made a modest recovery against the US dollar in the interbank market after the Finance Ministry and State Bank of Pakistan (SBP) gave a roadmap for the ongoing fiscal year to overcome the economic crisis facing the country. The rupee registered a minor gain of Rs0.53 or 0.22% and reached 238.84, up from مزید پڑھیں

Finance minister Miftah Ismail on Sunday said that the Pakistani rupee, which has taken a beating against the US dollar in recent weeks, should see some improvement “in the two weeks”. Ismail was addressing a press conference to speak about Pakistan’s economic path forward. “I really think — although I never like to speculate on مزید پڑھیں