The Pakistani rupee fell by Rs1.35 against the US dollar during interbank trade on Monday, extending its losses from the previous week. The local currency closed at Rs297.13, rising by Rs1.35 from the last week’s close of Rs295.78, according to data shared by the Exchange Companies Association of Pakistan (ECAP). In the open market, the dollar was changing hands for Rs307. According to Kh
The export of sugar rose by an astonishing 100 per cent in the first month of the current fiscal year despite soaring retail prices, showed data compiled by the Pakistan Bureau of Statistics on Monday. As consumers grapple with high sweetener prices at home, sugar exports in July stood at 5,542 tonnes against no exports in the same month last year. The PDM government had allowed sugar exports i
HR startup Paismo has raised a seed round of $1.3 million, which takes its total funding to date to $1.5m, the company said on Monday. Speaking to Dawn, Paismo co-founder and CEO Rebecka Zavaleta said the start-up helps businesses address HR challenges like managing employees, keeping track of their attendance and performance, providing them with benefits and processing their payroll. “The s
Unprecedented food prices amid squeezing incomes have already deprived the majority of households to afford decent breakfast, a fresh hike in tea rates both branded and loose would further make it difficult to manage a cup of tea. Packers and traders on Monday shocked consumers with Rs100 hike in 900-gram branded packs and around Rs200 per kg in loose tea. Traders said that the massive rupee
Textile and clothing exports shrank 11.44 per cent during the first month of the current fiscal year due to higher production costs, liquidity constraints and lower global demand. In absolute terms, the value of textile and clothing exports fell to $1.31 billion in July from $1.48bn in the corresponding month last year, data released by the Pakistan Bureau of Statistics showed on Monday. The