Government
Pakistan's currency, the rupee, has reached a new all-time low against the US dollar, hitting Rs288 in the interbank market. This depreciation comes amid delays in the revival of the International Monetary Fund (IMF) loan program and the looming risk of default on foreign debt repayment. The
National
As the holy month of Ramzan begins, citizens in Rawalpindi are expressing disappointment with the high prices of essential items in Sasta Ramzan bazaars, which were set up to provide relief from inflation. Despite efforts by the district administration to establish these bazaars and Fair Price shops, citizens claim that
Government
Pakistan is facing a crucial deadline to finalize a long-awaited loan agreement with the International Monetary Fund (IMF) to receive a $1.1 billion tranche from a $6.5 billion bailout agreed upon in 2019. Negotiations have been ongoing since February 2023, and the IMF has confirmed that a
National
The International Monetary Fund (IMF) has said that assurances of financial assistance from bilateral and other sources are critical to supporting the authorities' policy efforts and ensuring the successful completion of the review with Pakistan. The IMF wants Pakistan to get the assurance of up to $7bn to fund
Government
Pakistan's current account deficit (CAD) dropped to a nearly two-year low in February 2023 as the country's imports were reduced due to administrative controls and rupee depreciation, according to data from the State Bank of Pakistan (SBP). The CAD narrowed 86% to $74 million in
National
The State Bank of Pakistan (SBP) has reported a significant rise in its foreign exchange reserves, with the current total standing at over $4 billion. This increase has been attributed to a fresh loan of $500 million from a Chinese commercial bank. The SBP's reserves had previously fallen
National
Blockchain technology has been gaining significant momentum in recent years, and it is transforming various sectors of the global economy. One of the industries that are increasingly adopting blockchain is the insurance sector. According to a report published by Allied Market Research, the global blockchain in the insurance market generated
Editorial
According to a report in The News, traders expect the Pakistani rupee to maintain its upward trend against the US dollar in the coming week, following a boost in foreign exchange reserves as the nation received $700 million from China. The local currency has already gained about Rs2 or 0.
Government
Recently, the authorities in Pakistan have adopted a new mechanism for the handling of seized foreign currency. This move has been taken to ensure that appropriate arrangements are made for the currency that is confiscated by law enforcement agencies (LEAs). Under the new mechanism, the seized foreign currency will be
Government
The Pakistan Cricket Board (PCB) is currently facing a deadlock with the Punjab government over the security expenditures for the Pakistan Super League (PSL) season eight's Lahore and Rawalpindi leg. The Punjab government, under the leadership of interim Chief Minister Mohsin Naqvi, has refused to sanction the expenses
Editorial
In 2022, Pakistan was hit by devastating floods that affected millions of people, causing loss of life and damage to infrastructure. The China Leather Industry Association (CLIA) launched an initiative called “Put on Chinese Shoes, Rebuild New Home” to show support for the victims of the floods. As part of
Government
In response to the ongoing energy crisis, Karachi Commissioner Muhammad Iqbal Memon has directed the closure of shopping malls and markets by 8:30 pm. The directive was issued to the city’s deputy commissioners after receiving instructions from the federal government. Additionally, the commissioner ordered the implementation of Islamabad’