Pakistan’s foreign exchange reserves held by the central bank rose by $276 million to $3.2 billion in the week ending on February 10, the State Bank of Pakistan (SBP) said on Thursday. According to the state bank, net foreign reserves held by commercial banks stood at $5.5bn, bringing the country’s total liquid foreign reserves to $8.7bn.Arif Habib Ltd calculated that the current reserves would
Digitisation offers employment prospects to 23 per cent of Pakistan’s population, which falls in the age group of 20-34 years, and can add $60 billion to the economy within the next seven to eight years, said a press release by the Overseas Investors Chamber of Commerce and Industry (OICCI) on Thursday. The OICCI Managing Committee presented “Recommendations for Digital Transformation in Pakist
The National Electric Power Regulatory Authority (Nepra) on Thursday notified a Rs2.32 per unit reduction on account of fuel cost adjustment (FCA) for consumers of ex-Wapda distribution companies (Discos) for December 2022. The Central Power Purchasing Agency (CPPA), on behalf of Discos, had demanded a reduction of Rs2.20 on account of FCA for the last month of calendar 2022. The power regul
The State Bank of Pakistan’s (SBP) foreign exchange reserves surprisingly increased by $276 million during the week ended on Feb 10, while the rupee kept recovering its value against the greenback on Thursday. The central bank reported that its foreign exchange reserves rose to $3.192 billion from $2.9bn noted in the preceding week without mentioning the sources of inflows. However, bankers
Senators from both sides of the aisle took exception to some proposals of the recently tabled supplementary finance bill when the house standing committee on finance discussed its measures and listened to industry representatives on Thursday. Most members of the Senate Standing Committee on Finance and Revenue agreed that the adverse effects of some measures on certain sectors should be mitigat