Govt to charge the rich Rs100 more for fuel to finance subsidy for the poor: Musadik Malik
Minister of State for Petroleum Musadik Masood Malik said on Monday that the government will charge Rs100 more for petrol from the affluent so that…
Business
Govt jacks up petrol price by Rs5
The government raised the price of petrol to Rs272 per litre, adding pressure on the inflation-weary people. The Finance Division, in its fortnight bulletin, attributed…
Staff-level agreement with IMF expected in ‘next few days’: Ishaq Dar
Finance Minister Ishaq Dar has given yet another date for inking the deal with the International Monetary Fund. This time, according to his hopes, the…
Chinese Bank approves rollover of $1.3bln loan for Pakistan: Dar
Finance Minister Ishaq Dar says that the Chinese Bank ICBC has approved rollover of 1.3 billion US dollar loan after completing the necessary formalities. In…
Rupee claws back on Dar’s assurance of IMF deal
The Pakistan rupee gained its ground against the US dollar after the market gained hope on Finance Minister Ishaq Dar’s assurances of striking a deal…
Negotiations with IMF ‘about to conclude’, staff-level pact likely next week: Dar
Finance Minister Ishaq Dar said on Thursday that Pakistan’s negotiations with the International Monetary Fund (IMF) related to the completion of the ninth review of…
SBP hikes policy rate by 300bps, highest since October 1996
The State Bank of Pakistan (SBP) announced on Thursday that it had increased the interest rate by 300 basis points (bps) to 20 per cent…
PKR tumbles by nearly Rs19 against US dollar in interbank over IMF delays
The Pakistani rupee’s value declined sharply in the interbank trading on Thursday with the local currency falling by Rs18.89 against the US dollar. According to…
Moody’s downgrades Pakistan’s credit rating to ‘Caa3’
Moody’s Investors Service has downgraded the government of Pakistan’s local and foreign currency credit ratings to Caa3 from Caa1 in the wake of the drop…
President Alvi approves Finance Bill 2023
President Dr Arif Alvi on Thursday approved the Finance (Supplementary) Bill 2023, also known as the mini-budget. The approval was given under Article 75 of…