Pakistan had also received a $100 million facility from Saudi Arabia for oil supply. These various loans presented an opportunity for Islamabad to bolster the State Bank’s reserves. The IMF program imposes a cap on overall guarantees, with a stipulation for the government to keep the limit below $3 billion under the SBP program.
Category: Business
Pakistani Rupee Loses Rs 1.35 Against US Dollar in Interbank Trading.
“Pakistani Rupee Devalues by Rs 1.35 Against US Dollar in Interbank Trading” In interbank trading on Monday, the Pakistani rupee experienced a depreciation of Rs […]
Pak Suzuki Shuts Down Bike Assembly Plant
Amid the persistent economic crisis, Pak Suzuki Motor Company (PSMC) finds itself in a challenging predicament. Insufficient inventory has led to the suspension of motorcycle […]
A negative day of business in the stock market, down 107 points
Simultaneously, the price of gold surged in the country, marking a significant increase of 300 rupees per tola. This spike in gold prices could be attributed to various factors, including global market trends, currency fluctuations, and geopolitical uncertainties.
Current account deficit stood at $80.9 million in July, State Bank
SBP’s announcement highlights that July’s inflows were reduced by 5%, leading to a total of $2.11 billion. Additionally, remittances from overseas workers decreased by 19% to $2.02 billion during the same month.
Baluchistan Wheels halts production
Baluchistan Wheels, a prominent manufacturer and marketer of automotive wheel rims catering to small cars, buses, and trucks, has announced a temporary cessation of production […]
PIA booking offices will remain shut in protest against privatization
Pakistan International Airlines (PIA) ticket booking offices will remain closed today (Thursday) for two hours against privatisation as a token strike, announced CBA, As per […]