The government raised Rs716 billion by selling treasury bills (T-bills) on Wednesday, exceeding the auction target of Rs400bn against a maturing amount of Rs1.04 trillion, announced the State Bank of Pakistan. Contrary to the expectations of a significant reduction in the wake of falling interest rates, the cut-off yields were slightly reduced. The cut-off yields for three- and six-month ten
Artificial Intelligence (AI) experts have started implementing innovative techniques in highly traditional sectors like agriculture to boost output and protect produce from changing weather patterns and pest attacks. Talking to the media, TenX Chief Executive Officer Qazafi Qayyum has said that AI can help overcome business challenges and drive growth for local IT companies in the global marke
Pakistan and Iran have pledged to continue discussions and develop action plans to overcome the existing trade barriers and streamline regulations to realise the full potential of bilateral trade. The understanding was reached between Commerce Minister Jam Kamal Khan and Iran’s Minister for Industry, Mining and Trade Mohammad Atabak on the sidelines of the Shanghai Cooperation Organisation (S
Domestic gold rates for 10 grams and one tola reached an all-time high of Rs237,654 and Rs277,200, respectively, on Wednesday, increasing by Rs1,886 and Rs2,200, compared to Tuesday’s rates. According to the All Sindh Saraf and Jewellers Association, the local rates surged due to a $22 per ounce rise in world gold prices to $2,675. The previous all-time high was recorded on Sept 26, when the
The State Bank of Pakistan (SBP) has asked banks to process the export of half a million tonnes of sugar, which may destabilise domestic prices. The sugar industry has been seeking export permission for another 850,000 tonnes of sugar worth about $485 million. The Economic Coordination Committee (ECC) of the cabinet had on Sept 21 allowed the export of 140,000 tonnes of the commodity. Market