Top News – Page 10

In January, Pakistan’s Real Effective Exchange Rate index decreased to 92.8.

According to figures released by the State Bank of Pakistan (SBP) on Monday, Pakistan’s Real Effective Exchange Rate (REER) decreased sharply in January from 96.2 in December to 92.8. The results showed that the REER decreased 4.4% yearly. The REER value decreased by 3.57% per month. The Nominal Effective ExchangeRead More →

The National Assembly approves a mini-budget of Rs. 170 billion.

The National Parliament approved the Finance (Supplemental) Bill, 2023 on Monday, proposing Rs. 170 billion in new taxes and tariffs, opening the way for the staff-level agreement with the International Monetary Fund (IMF). When the bill’s debate came to a close, Finance Minister Ishaq Dar said that although the governmentRead More →

More than 10 million jobs are at risk in Punjab’s textile industry, according to APTMA.

The All Pakistan Textile Mills Association (APTMA) has warned the government that large layoffs would occur shortly, resulting in severe unemployment for more than 10 million people in Punjab. APTMA has asked the government in a letter to the premier to establish a fair playing field throughout the nation byRead More →

Government imposes steep fees on business class airfare

Based on foreign areas and destinations, the government has established new federal excise tax (FED) rates for first class, business class, and club class airline tickets. On Monday, the government presented the Finance Supplemental Bill 2023 revisions.For FED, new slabsThe FED would be applicable on club, business, and first-class flightRead More →

Revenues in Pakistan’s telecom industry were Rs694 billion in FY22.

ISLAMABAD (Web desk) – According to figures from the Pakistan Telecommunication Authority (PTI), the telecom industry in Pakistan produced record earnings of Rs 694 billion during the fiscal year 2021–22 as opposed to Rs 651 billion during the same period in 2020–21. The authority claims that the past quarter’s growthRead More →

News is not good for the rupee in 2023

KARACHI: Due to political upheaval and intermittent suspensions of the International Monetary Fund (IMF) lending programme, the Pakistani rupee has continued to depreciate against the US dollar into the year 2022. On Friday, the rupee fell 22% year-over-year to Rs226.43 versus the dollar in the interbank market. However, it isRead More →

HEC establishes the National Innovation Award of up to Rs. 2 million under the Prime Minister Youth Program.

The Higher Education Commission (HEC) of Pakistan created the National Innovation Award as a part of the Prime Minister Youth Program. The award seeks to provide funding to Pakistani youth so they may turn their ideas into profitable enterprises. The initiative seeks to encourage young people’s entrepreneurship and creativity whileRead More →

Inflation in December is 24.5 percent.

According to the Pakistan Bureau of Statistics, the Consumer Price Index (CPI), which measures inflation on a year-over-year (YoY) basis, increased to 24.5 percent in December 2022. (PBS). According to the statistics, inflation increased from 0.8% in November 2022 to 0.5% in December 2022 on a month-over-month (MoM) basis. AccordingRead More →

The price of flour has risen by up to 100% in Pakistan.

According to the Federal Bureau of Statistics, the price of a 20 kg flour bag climbed by Rs. 720 in a week.Residents of Islamabad have been struck the hardest by the spike in wheat prices, and are now obliged to buy the most costly flour in the country. A 20Read More →

Roshan Digital Accounts Saved Pakistan from a Crisis Similar to Sri Lanka.

With the economy under great strain, as seen by depleted foreign reserves, a rising current account deficit, and the currency plunging to a historic low, Pakistan must act quickly to reactivate the International Monetary Fund programme in order to avert a Sri Lanka-style collapse. “In order to re-enter the program,Read More →