The crackdown against illegal currency dealers has kept the exchange rate under control so far as the dollar lost in both the open and interbank markets. The State Bank reported the closing price of dollar as Rs294.90, noting a depreciation of Rs1.05. The dollar was priced as Rs295.95 a day earlier. Since the peak of Rs307, the dollar has lost Rs12 in the inter-bank market while the day-to-d
The caretaker government on Tuesday asked the provincial governments to take administrative measures to keep a check on profiteering by the market players and to maintain a reasonable gap between wholesale and retail prices of essential food items and consumer products. The decision was taken at a meeting of the Economic Coordination Committee (ECC) of the cabinet presided over by caretaker fin
Stocks closed higher on Monday led by oil companies amid surging global crude prices as well as the rupee’s recovery against the dollar. Arif Habib Corporation analyst Ahsan Mehanti said the decision by the State Bank of Pakistan to maintain the status quo over the policy rate, upbeat data on cement sales, which rose 37 per cent in August, and expanding banking spreads played the role of a cata
With oil investors and traders focused on an oil-price rally that has come close to $100 a barrel, some grades of crude oil are already trading above that milestone, highlighting an expectation of tight supply. The outright price of Nigerian crude Qua Iboe surpassed $100 a barrel on Monday, according to LSEG data QUA-E. Malaysian crude Tapis reached $101.30 last week, said Bjarne Schieldrop, an
The lacklustre performance of the public policies in some areas and dismal failures in other domains are breeding ideas falling in the realm of culture change in state governance and corporate organisational reorientation while ground realities are opening up avenues and freedom for individual enterprise. This is happening when the state policies are in a state of flux, and the country is strug