The foreign exchange reserves of the State Bank of Pakistan (SBP) decreased by $15 million to $11.69bn during the week ended on Jan 3, reported the central bank on Thursday. The SBP reserves have been declining for the last three weeks. The country’s total reserves were $16.377bn, including $4.682bn held by commercial banks.
The Fertiliser Review Committee has expressed satisfaction with fertiliser production and its market supply position. The meeting, chaired by Industries and Production Minister Rana Tanveer Hussain, was informed on Thursday that the required balance prevailed in the supply and demand of urea for the Rabi season 2024-25, and the fertiliser manufacturing plants were operating efficiently ac
State Bank Governor Jameel Ahmed expressed hopes on Thursday that an uptick in remittances and dip in inflation would lend stability to the economy this year. The governor was addressing the representatives of trade and industry at the FPCCI building. He said inflation would further decline this month, but it might fluctuate over the next five months and could settle between five and seven p
The National Assembly Standing Committee on Privatisation was informed on Thursday that the International Monitory Fund (IMF) has agreed to the removal of 18 per cent GST on the purchase of new aircraft and cleaning of Rs45 billion negative equity of Pakistan International Airline Company Limited (PIACL). A meeting of the committee was further informed that it was decided to capitalise on posit
The local cotton market was showing a bullish trend as white lint rates on Thursday touched the highest mark of Rs20,000 per maund for the ongoing season. On the other hand, the Federal Board of Revenue (FBR) has called a special meeting on Monday to discuss whether to maintain sales tax exemption on imported cotton and yarn. Local cotton prices are rising because of an unexpected d