The government has announced adjustments in the profit rates on national savings schemes including its Islamic products and accounts with effect from Oct 30. According to a notification issued by the Ministry of Finance, the profit rate on savings accounts has been increased by 1pc to 20.5pc per annum. Likewise, the profit rate on special savings accounts has been increased by 20 basis points
Oil and Gas Development Company Ltd reported on Wednesday its earnings for July-September amounted to Rs49 billion, down eight per cent from a year ago. Insight Securities Ltd said the year-on-year decline in quarterly income was due to the absence of a hefty exchange gain of Rs11bn. Revenues increased 13pc year-on-year mainly because of the devaluation of 23pc even though the decline in oil
Consumer inflation in October eased to 26.9 per cent, the lowest level since December last year, as prices across almost all groups of commodities and services rose at a slower pace compared to last year, official data showed on Wednesday. In fact, the prices in one category — perishable food items — fell 1.89pc compared to the same month a year ago, something last happened when Imran Khan was
As the first review under the IMF’s $3bn Stand-By Arrangement is set to start on Thursday (today), the rupee maintained a downward trajectory on Wednesday against the US dollar creating uncertainty about the future trend. The greenback has been appreciating for the last eight sessions but the appreciation of Rs1.18 on Wednesday shook the confidence of the importers and exporters as well. Som
Caretaker Finance Minister Dr Shamshad Akhtar said on Wednesday Pakistan is facing a trade-off between raising climate finance and development finance. “I think we need to be conscious that getting money is a big issue that we face in addressing the climate agenda,” she said, noting that seeking money for climate finance undercuts other development finance requirements. Speaking at the secon