Investors mainly banks were in a hurry to park a record Rs2.8 trillion in the treasury bills but the government remained cool and accepted only Rs283 billion in the auction held on Wednesday. Despite a cut in the cut-off yield up to 59 basis points, the investors were willing to invest Rs2.109tr in 12-month papers, Rs76.7bn in 6- and Rs568bn in 3-month tenors. Market experts found it a clear
Steel bar makers have increased the prices by Rs4,000 per tonne citing a bullish trend in iron and steel scrap on the world markets. Pakistan Association of Large Steel Producers (PALSP) General Secretary Syed Wajid Bukhari claimed that the new rates of steel bars hovered between Rs250,000-262,000 per tonne depending on the quality. He said some loss-making mills could not pass on the needed
The International Labour Organisation (ILO) says the unemployment rate in Asia-Pacific is expected to remain constant at 4.5 per cent during 2024-25 in view of the socio-economic developments in low- and middle-income economies of the region as poverty rates have decreased and youth education enrolment improved. At around 4.5pc, the regional unemployment rate fell below pre-pandemic levels in 2
Workers’ remittances in December increased by 13.4 per cent on a year-on-year basis to $2.4 billion, compared to $2.099bn in the same month of the previous fiscal year. However, during the first six months of FY24, remittances fell short of the amount the country received in the same period of the previous year. Moreover, remittances from almost all destinations, except European countries, decl
Caretaker IT and Telecom Minister Dr Umar Saif on Wednesday announced to set up 10,000 e-Rozgar centres across the country to facilitate freelancers as most of them do not have a proper workplace. “Around 1.5 million freelancers are working regularly in Pakistan,” Dr Saif said in a statement posted on social media platform X, formerly Twitter. The minister said the convenience of freelancers