Pakistani currency maintained its uptrend for the fifth successive working day on Tuesday, appreciating to a new three-month high above Rs279.50 against the US dollar in the inter-bank market in the wake of improved inflows of the foreign currency compared to its demand. According to State Bank of Pakistan’s (SBP) data, the rupee improved 0.02%, or Rs0.06, and closed at Rs279.79 against the gre
The top leadership has decided to press ahead with all mega gas projects including the Iran-Pakistan (IP) pipeline to meet the growing consumer demand in future. Sources told The Express Tribune that the Petroleum Division had conducted a study on the requirement and future demand for gas projects. The detailed study had been commissioned to define the current and projected supply of gas fro
The federal cabinet, under the leadership of Prime Minister Anwaarul Haq Kakar, on Tuesday deferred the approval of the restructuring plan for the Federal Board of Revenue (FBR) due to questions regarding the mandate of the caretaker government and the perceived complexity of the proposed scheme. A sub-committee, headed by the finance minister, has been formed to review the restructuring plan a
The Pakistan-Afghanistan Torkham border, which was shut for 10 days due to the imposition of visa restrictions on truck drivers by Islamabad, was reopened on Tuesday, state-run Radio Pakistan reported. The crossing was closed on January 13 after Pakistani officials at the crossing began asking for passports and visas from Afghan drivers under a new policy, prompting a reciprocal ban on Pakistan
The benchmark Karachi Interbank Offered Rate (Kibor) has again started crawling up as chances of a reduction in the key interest rate by the State Bank of Pakistan in its monetary policy review on Jan 29 seem unlikely due to elevated inflationary pressures. Kibor is a market-determined average interest rate at which banks lend to one another in the interbank market. It has stayed higher during