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Pakistan: SBP forex reserves sink to a month's worth of import cover
Updated : 1 hour, 37 min ago IST
In its weekly bulletin, the State Bank of Pakistan (SBP) said that its foreign exchange reserves have decreased as of the week ended March 24, which will provide an import cover of less than a month.
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State Bank of Pakistan likely to raise interest rate to unlock IMF loan pr
Updated : 1 week ago IST
The SBP recently increased interest rates by 2 per cent, but the IMF is now forcing Islamabad to raise rates by 2 per cent again.
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Pakistan government bans PM, President, judges from receiving gifts valued
Updated : 2 weeks, 2 days ago IST
Judges, as well as civil and military leaders have also been restricted from accepting gifts that cost more than US300.
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Pakistan govt's debt jumped by PKR 4 trillion in January 2023
Updated : 3 weeks, 1 day ago IST
Meanwhile, domestic debt rose to PKR 34.3 trillion by January end, 3.4 per cent higher than a month ago and around 25 per cent higher than the year-ago figure.
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Pakistan's central bank increases interest rate by 300 basis points to 20
Updated : 3 weeks, 4 days ago IST
Pakistan's Central Bank increased the interest rate by 300 bps taking the total increase to 1,050 bs since January 2022 to counter rising inflation.
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Pakistan: Inflation hits highest level on record
Updated : 3 weeks, 6 days ago IST
This was the highest annual rate since available data, i.e. July 1965, according to the research firm Arif Habib Ltd, and is also expected to rise even further in the coming months.
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Global logistics company DHL suspends some operations in Pakistan amid res
Updated : 4 weeks, 1 day ago IST
According to Dawn, DHL Pakistan has informed its customers that it is suspending 'Import Express Product' and restricting outbound shipments to a maximum weight of 70 kg per shipment for all customers billed in Pakistan from March 15.
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Dollar black market in Pakistan flourishes again
Updated : 1 month ago IST
The gap between the Pakistani rupee's value in the interbank and open markets is rising again, creating a black market where the dollar is being traded at a much higher price, the Dawn reported.
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Cash-strapped Pakistan receives funds worth USD 700 million from China Dev
Updated : 1 month ago IST
Dar took to his Twitter to make the announcement. He wrote: "AlhamdoLilah! Funds USD 700 million received today by State Bank of Pakistan from China Development Bank".
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Pakistan: FDI plunges by 44 pc during first seven months of FY23
Updated : 1 month ago IST
According to Business Recorder, the State Bank of Pakistan (SBP) on Monday reported that the country has fetched FDI amounting to USD 683 million during July-Jan of FY23 as against USD 1.22 billion in the same period of last fiscal year (FY22).
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South Korean companies in Pakistan on brink of shutdown
Updated : 1 month, 1 week ago IST
The non-opening of letters of credit (LCs) for imports of raw material is costing Korean companies "millions of dollars" in lost sales, said senior officials from the state-backed trade body as well as the local chamber of Korean investors.
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Pakistan's external debt servicing jumps by 70pc
Updated : 1 month, 1 week ago IST
In the first half of the fiscal year, Pakistan paid USD 10.21 billion in external debt servicing while in the same period of 2021-22, the country paid USD 6 billion, State Bank of Pakistan's (SBP) data showed.
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