Pakistani currency on Wednesday hit a new four-week low at Rs278.40 against the US dollar in the inter-bank market, while gold surged to a fresh record high at Rs251,900 per tola (11.66 grams) in line with the global trend. According to State Bank of Pakistan’s (SBP) data, the rupee further dropped Rs0.11 on a day-on-day basis, reaching a 28-day low at the close of market. With this, the cur
Leading global financial organisations like the World Bank (WB), Asian Development Bank (ADB), and International Finance Corporation (IFC) have pledged their support for Pakistan’s economic stabilisation efforts through structural reforms, digital transformation, and privatisation. During sideline meetings at the International Monetary Fund (IMF) and World Bank-2024 Spring Meetings in Washingto
The government has drawn up a plan to provide affordable credit facilities to small and medium-sized businesses, which are considered a vital part of the economy and provide a large number of job opportunities. The matter was taken up in a recent meeting of the cabinet while discussing the acceptance of resignation submitted by SME Bank Limited President and CEO Tahir Hassan Qureshi and the app
The Pakistan Pharmaceutical Manufacturers Association (PPMA) has stressed the necessity of updating existing drug laws to align with global trends for the benefit of patients and the pharmaceutical industry. “Local industries are shutting down due to historically high input costs, the highest inflation, and bank markup rates in Asia. Multinationals are vanishing due to excessive regulations. Cu
As the country heads towards negotiating another International Monetary Fund (IMF) loan programme, textile millers have called on the government to formulate export-oriented policies by reducing energy tariffs and tax rates to make the industry competitive in the global market. In a letter to Finance Minister Muhammad Aurangzeb, the All Pakistan Textile Mills Association (Aptma) stressed that a