The International Monetary Fund has approved parts of the government’s proposals to provide relief in electricity bills, sources said on Thursday. The sources said that the government had once again made contact with the IMF recently. However, the latter rejected the government’s proposal for relief for consumers using up to 400 units of electricity. The مزید پڑھیں

The State Bank of Pakistan (SBP) announced on Wednesday its decision to implement comprehensive structural reforms in the Exchange Companies (ECs) sector, aiming to enhance transparency, improve services for the public, and address currency exchange challenges amidst a significant depreciation of the national currency. As part of these reforms, prominent banks actively involved in foreign مزید پڑھیں

The US dollar became cheaper against Pakistani rupee by Rs7 in the open market on Wednesday. It is important to remember that dollar closed at Rs323 rupees yesterday after falling by Rs5 in open market. Today, the US dollar has depreciated by Rs7 to settle at Rs316 in the open market. Speaking to a private مزید پڑھیں

Caretaker government has decided to use the allocation for IPPs in budget to give relief in electricity bills, citing Finance Ministry sources. The government in its communication with the International Monetary Fund (IMF) has suggested a new relief plan for electricity bills, sources at the Ministry of Finance said. The government has decided to utilize مزید پڑھیں

Oil prices surged by two per cent on Tuesday to their highest since November, after Saudi Arabia and Russia extended their voluntary supply cuts by three months to the end of this year, worrying investors about potential shortages during peak winter demand. Brent crude futures rose by $2.08, or about 2.3pc, to $91.08 a barrel مزید پڑھیں

The US dollar continued to hit new peaks against the rupee in the open-market, and was selling for over 334 during trading on Monday. The Exchange Companies Association of Pakistan (ECAP), however, quoted rates at Rs329 and Rs326 during trading. In the inter-bank market, the rupee was above the 305 level against the US dollar. مزید پڑھیں

A drop in global gold prices affected local gold prices in Pakistan as the precious metal plunged by Rs700. Data shared by All Pakistan Gems and Jewellers Sarafa Association (APGJSA) shows the price of 24-carat gold declined by Rs700 and settled at Rs239,100 per tola. The price of 10-gram gold dropped by Rs600 and the مزید پڑھیں

The interim government has increased the price of petrol in Pakistan by Rs14.91 per litre, marking it as the highest one ever achieved in the country’s history. The new price of petrol will be Rs305.36 per litre after increment. Similarly, the price of high speed diesel has been increased by Rs18.44 after which its price مزید پڑھیں

The US dollar continued to hit new heights against a weakening Pakistani rupee, and reached the 305 level during trading as the gap with the inter-bank rate widened further. The Pakistani rupee has found itself on a rollercoaster ride yet again against the mighty US dollar. The dollar crossed an unprecedented milestone, soaring past the مزید پڑھیں

Pakistan has approached the International Monetary Fund (IMF) to provide relief to the public in electricity bills. Interim Finance Minister Shamshad Akhtar held a virtual conversation with IMF representative Esther Perez Ruiz where some suggestions were floated and the IMF asked for a written plan. Sources in the Ministry of Finance said the two sides مزید پڑھیں