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Pakistan’s Finance Ministry says inflation would remain high in 2023
According to Pakistan’s Finance Ministry, inflation would remain high. It was reported that Citing worldwide experience, Pakistan’s central bank noted in its annual report that nations prioritizing growth over pricing and financial stability are unable to “sustain growth and avoid repeated boom-bust cycles and the financial crisis.” Given that the country’s fiscal deficit increased by…
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PSX rebounds from the year-end phenomenon
PSX rebounds from the year-end phenomenon. It was reported that the KSE-100 shares Index of the Pakistan Stock Exchange increased by 467.93 points. There were 227.78 million shares available on the ready market. Having lost Rs44.20, Premium Textile closed at Rs557.05 a share. it was reported that institutional finance closing, a year-end phenomenon that encourages…
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Pak rupee registers a small rise versus the dollar in interbank
Pak rupee registers a small rise versus the dollar in interbank. It was reported that in the interbank market, the local currency marginally increased against the US dollar during trade on Thursday, rising 0.08 percent. In intraday trade, the rupee appreciated by Re0.18 to a value of 226.19 at about 11:20 a.m. A day earlier,…
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Mobile phone banking grows to Rs12tr
Mobile phone banking grows to Rs12tr. It was reported that according to the State Bank of Pakistan’s Annual Payment Systems Report, the value of mobile phone banking transactions increased by 141% to Rs11.9 trillion in FY22.
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Azerbaijan will supply gas to Pakistan.
Azerbaijan will supply gas to Pakistan. It was reported that the government has planned to purchase more gas from Azerbaijan in the coming months in order to meet the increased demand for energy during the winter. According to Musadik Malik, Pakistan’s State Minister for Petroleum, the country will purchase 20,000 tonnes more of gas from…
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Government lowers gasoline costs by Rs. 10 per litre
Government lowers gasoline costs by Rs. 10 per litre. It was reported that the price of gasoline would reduce by Rs 10 per litre, the government stated on Thursday. The new price of gasoline would be Rs214.80 as of Thursday following the announcement by Ishaq Dar, the finance minister. High-Speed Diesel is now available at…
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Celebration of the 64th “Gwadar Day” to commemorate joining Pakistan
Celebration of the 64th “Gwadar Day” to commemorate joining Pakistan. it was reported that the 64th “Gwadar Day,” an epic recollection of the handover of Gwadar from Oman to Pakistan, was commemorated with traditional fervor, giving people to recall the watershed moment that is now altering the physical structure of Gwadar from a tiny fishing…
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Early In 2023, Pakistan’s domestic debt is projected to reach a record high of Rs. 55 trillion.
Early In 2023, Pakistan’s domestic debt is projected to reach a record high of Rs. 55 trillion. It was reported that the government intends to issue additional debt totaling more than Rs. 5 trillion between December 2022 and February 2023, despite the fact that domestic debt will have already reached historic highs of over Rs.…
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Saudi Arabia extends the duration of a $3 billion deposit with the State Bank of Pakistan
Saudi Arabia extends the duration of a $3 billion deposit with the State Bank of Pakistan. It was reported that to aid Pakistan’s economy, Saudi Arabia has extended the three billion dollar deposit’s term with the State Bank of Pakistan through the Saudi Fund for Development. The deposit’s objective is to increase the bank’s foreign…
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Pakistan pays back $1.8 billion in November 2022, as per SBP
Pakistan pays back $1.8 billion in November 2022, as per SBP. It was reported that in a Friday analyst conference, the central bank reported that Pakistan had paid back $1.8 billion against foreign loans. The SBP governor emphasized that the central bank had repaid a debt totaling $1.8 billion during the month of November 2022…
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October $567 million shortfall in Pakistan’s current account
October $567 million shortfall in Pakistan’s current account. It was reported that during the first four months of this fiscal year (FY23), Pakistan’s current account deficit (CAD) decreased by 46.8% as a result of lower import expenses and a slight increase in exports. A $567 million deficit was recorded in just October, which represents a…
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How Pakistan’s floods sparked a debate at Cop for Loss and Damage Fund
Pakistan’s floods sparked a debate at Cop for Loss and Damage Fund. It was reported that Pakistan appealed for damage compensation with other frontline countries when the world was still reeling from the devastating destruction. In spite of efforts by certain wealthy nations to separate them, Pakistan carried this resolution to the Sharm el-Sheikh negotiations…
