The Chief Executive of the Islamabad Electric Supply Company (IESCO), Dr. Muhammad Amjad Khan, issued a directive on Monday aimed at assisting customers who are […]
Category: Business
Overseas Pakistanis Inject $137 Million into Economy Through Roshan Digital Account
In a notable economic development, overseas Pakistanis have contributed $137 million to the country’s economy in the month of July through the Roshan Digital Account […]
BP calls for greater investment in oil and gas alongside accelerated energy transition.
BP, a global oil major, has emphasized the need for simultaneous investments in oil and gas production and the acceleration of the energy transition to […]
Low Demand Forces Toyota Indus Motors to Close Assembly Plant
Amid Ongoing Challenges, Toyota Indus Motor Company Declares Additional Non-Production Days. In an official announcement to the Pakistan Stock Exchange (PSX), (IMC) has revealed a […]
In July 2023, Pakistan’s debt increased by $2.8 billion
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.
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.