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Prime Minister Shehbaz Sharif on Thursday said that the decision to ban the import of luxury items will save the country’s precious foreign exchange, vowing to take similar measures to overcome the economic challenges at hand. “We will practice austerity and financially stronger people must lead in this effort so …

KARACHI: The Pakistani rupee surpassed the much-feared Rs200 against the US dollar in intra-day trade in the inter-bank market on Thursday. The rupee lost Rs2.41 to Rs200.80 at around 1:45 pm compared to Wednesday’s close at Rs198.39. According to reports, Prime Minister Shehbaz Sharif expressed surprise over the free-fall in …

ISLAMABAD: Fueled by imports and consumption, Pakistan’s economic growth rate accelerated to 6% during the last year of Imran Khan’s government  – the highest pace in four years – helping to increase the size of the nation’s economy to $383 billion besides jacking up per-capita income. The provisional Gross Domestic …

KARACHI: The Pakistani rupee devalued close to the much anticipated Rs200 against the US dollar in inter-bank market. At around 3pm, it was trading at Rs199.61, dropped by Rs3.87 in a single day. The latest depreciation comes amid the resumption of talks between the government and the International Monetary Fund …

ISLAMABAD: The federal government on Wednesday decided to impose a complete ban on the import of unnecessary and luxury items to deal with the country’s unsettling economic woes, according to Express News. The decision was taken during a high-level meeting held under the chairmanship of Prime Minister Shehbaz Sharif in …

KARACHI: The Pakistani rupee on Tuesday suffered a significant drop of 1.5% and plunged to Rs197 against the US dollar in the inter-bank market. The fall of the rupee marks the eighth consecutive day of its sink, culminating in a 6% fall (or Rs11.30) to Rs196.99 to date. The local …

KARACHI: The Pakistan Stock Exchange (PSX) dropped by over 1,000 points immediately after opening on Monday as the government’s inaction over the growing economic crisis mounted selling pressure on the bourse. After the 2.4% drop, the PSX benchmark KSE-100 Index declined to a two-month low at 42,443 points at around 10:22 am. Finance Minister Miftah …

ISLAMABAD: Finance Minister Miftah Ismail on Sunday dismissed speculations regarding an increase in the prices of petroleum products, saying the government led by Prime Minister Shehbaz Sharif has no immediate plans to hike the fuel prices. Addressing a press conference in Islamabad, the finance minister admitted that the government was …

PUBLISHED May 15, 2022 KARACHI: Agriculture forms the backbone of Pakistan’s economy but the communication gap between the farmers and stakeholders has long limited the market’s potential, resulting in reduced production. Farmers have consistently been left out of profit making in the agricultural industry and continue to rely on agents, …

ISLAMABAD: The federal government is mulling over a plan to cut subsidies on petroleum products in phases — Rs25 per litre on petrol and Rs40 per litre on high speed diesel (HSD) in the first one — in a bid to reduce the volume of the mounting price differential claims. …