The government increased the cut-off yields to raise Rs852 billion through auctions of treasury bills on Wednesday against the target of Rs650bn. The State Bank reported that the three-month cut-off yield was increased by 94 basis points to 17.937 per cent. All the bids for six-month and 12-month tenors were rejected. The central bank received a total of Rs1,593bn bids suggesting that the ba
Commerce Minister Naveed Qamar has said that the promotion of information technology and data sciences are key to future challenges and soon the National Assembly will pass the Data Protection Bill 2021, which will lead to the strengthening of the IT and digital economy in the country. Addressing the US-Pakistani Diaspora Conference on Accelerating Silicon Investments in Pakistan organised by U
The rupee dipped by 1.2 per cent to 243 against the dollar on Wednesday after foreign exchange companies lifted a price cap, which they said caused “artificial” distortions and created a black market, where the US currency was selling at higher rates. However, the rupee’s closing value was far higher compared to Rs252.5 in the early open-market trade on Wednesday after central bank’s interventi
Pak Suzuki Motor Company Ltd (PSMCL) has increased motorcycle prices by Rs20,000-25,000 effective from Feb 1. The new rate for GD110 S, GS150, GSX125 and GR150 is Rs264,000, Rs286,000, Rs384,000 and Rs410,000. The company, however, did not disclose any reason for the price hike in its letter issued to authorised dealers. PSMCL had stopped the new booking of bikes from Jan 20 for the time bei
The United States has reiterated that Pakistan can purchase oil from Russia at a discounted price even though it has not signed a Washington-backed price-cap on Russian petroleum products. US State Department’s spokesperson Ned Price told reporters at a Tuesday afternoon news briefing that Pakistan can also take advantage of the concessions Washington has given to other countries for buying oil