Banks and exchange companies are facing mounting pressure to lower the dollar rate below prevailing market levels, according to sources in the financial sector. An important meeting in Islamabad on Monday, involving senior officials from the State Bank of Pakistan (SBP), the Ministry of Finance, and bankers, discussed measures to stabilise the exchange rate and reduce the dollar’s price. How
Senior security officials on Monday held a meeting with bullion traders to address concerns over gold price speculation, rising rates, and suspected smuggling — days after a crackdown on black market currency dealers and a separate meeting with exchange companies. According to All Sarafa Gems and Jewellers Association President Qasim Shikarpuri, the meeting was held in Islamabad, where security
Finance Minister Muhammad Aurangzeb has departed for the United States to engage in high-level negotiations aimed at concluding the Pakistan–US trade dialogue, the finance ministry announced in a press release on Monday. Aurangzeb and US Trade Representative Jamieson Greer launched the negotiations through a telephonic conference call on reciprocal tariffs in May, agreeing to get into technic
The finance ministry on Monday projected consumer inflation for July to remain in a range of 3.5-4.5 per cent, citing stable prices and improved supply conditions, as price pressures ease further after the previous fiscal year’s sharp decline. Inflation stood at 3.2pc in June, the ministry said in its monthly economic report, while average inflation for the fiscal year ending June 30 dropped to
Pakistan’s equity market posted modest gains during the outgoing week, underpinned by improved investor sentiment following a rare upgrade in the country’s sovereign credit rating and growing expectations of monetary easing. However, lacklustre volumes and caution ahead of corporate earnings tempered the upward momentum, highlighting an underlying wait-and-see attitude among investors. The b