Despite being surrounded by political and economic uncertainties, the local currency remained stronger against the US dollar in the interbank market. The exchange rate, which has been a serious cause of concern for the government as well as stakeholders in the economy, remained stable for over two months. The State Bank of Pakistan reported the dollar rate at Rs279.34 in the interbank market
Amid ongoing engagement with the International Monetary Fund (IMF) for further electricity tariff reforms involving increases for residential and reductions for industrial consumers, the country’s power sector regulator, Nepra, has warned the government that its compulsions to pass on full costs coupled with historically highest inflationary spree in the country was diminishing the purchasing capa
Bulls dominated the trading floor of the Pakistan Stock Exchange (PSX) on Tuesday as shares gained nearly 800 points due to activity reported in the energy sector. According to the PSX website, the KSE-100 index gained 659.15 points to stand at 63,662.06 at 1:42pm, up 1.05 per cent from the previous close of 63,002.91. Continuing the upward momentum, the index eventually closed at 63,799.01,
Sri Lanka has approved gradually lifting some limits on converting rupees to foreign exchange for outward remittances and the new directions will be presented to parliament for approval, cabinet spokesperson Bandula Gunawardane said on Tuesday. The island nation’s central bank had suspended permission to remit funds for overseas investments by Sri Lankan residents from mid-2020 except under cer
S&P Global Ratings has hinted at upgrading Pakistan’s credit rating to ‘B’ following the new political government that comes into power post-Thursday (February 8) elections in the country, but the change in the rating would largely depend on the economic roadmap of the new rulers. To upgrade the rating, the global rating agency will closely watch the new government’s moves towards securing the