By Staff Reporter
KARACHI: The Pakistani rupee continued its rally against the US dollar overnight on Thursday after staging an initial recovery Wednesday on the back of multiple positive reports concerning the government’s macroeconomic options.
Macro
Iron brother to the rescue with a $2.3bn lifeline
By Staff Reporter
ISLAMABAD: With Pakistan well on its way to having the International Monetary Fund (IMF) revive a stalled bailout package it urgently needs, news came on Wednesday that a consortium of Chinese banks has thrown Islamabad a credit line of over USD 2 billion.
Rupee buoyant on the news of IMF deal
By Staff Reporter
KARACHI: The Pakistani rupee bounced back against the dollar in the morning trading Wednesday on the news of the authorities’ reaching a broad deal with the International Monetary Fund (IMF) on budgetary targets.
The logo of the International Monetary Fund (IMF) at the organization's headquarters in Washington, DC, May 16, 2011. The organization's director, Dominique Strauss-Kahn, faced arraignment in New York earlier Monday on allegations of sexual assault. AFP PHOTO / Saul LOEB
Pakistan, IMF achieve crucial agreement over budget targets
By Staff Reporter
ISLAMABAD: In a welcome development Tuesday night, Pakistan and the International Monetary Fund (IMF) evolved broad agreement over the next fiscal’s budget, paving the way for the revival of a stalled Fund bailout program, Independent Pakistan can report.
Rupee continues to shed value
By Staff Reporter
KARACHI: The US dollar’s upward march continued on Tuesday as it rose to PKR 212 against the local currency during early morning trading in the interbank market.
File photo
LAHORE:: A view of high voltage electric wires fell down on a Rickshaw at Garhi Shahu area in Provincial Capital. ONLINE PHOTO
Staggered Increase: ECC passes Rs7.91/unit power tariff hike
By Staff Reporter
ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet on Monday consented to a hike of Rs 7.91/unit in the baseline power tariff on average, but in a staggered manner, starting from July 1, 2022.
Markets smile, households groan over soaring energy prices
By Staff Reporter
ISLAMABAD: The markets may have responded rather well to the government’s recent moves to put a stalled International Monetary Fund (IMF) bailout back on track, but households are staggering under the enormous burden of inflation brought on by successive hikes in energy prices.
SBP foreign currency reserves fall below $10 billion levels
By Staff Reporter
KARACHI: The State Bank of Pakistan’s (SBP) foreign currency reserves have dropped to levels worth just six weeks of imports, latest figures showed on Thursday.