SBP injects over Rs9.62 trillion in the market By: APP on November 9, 2024The State Bank of Pakistan (SBP) injected Rs9,620.2 billion in the market through reverse repo purchase and Shariah Compliant Mudarabah based Open Market Operation (OMO) on Friday. According to OMO results issued here, the SBP conducted Open Market Operation, Reverse Repo Purchase (Injection) on November 08, 2024 for 7-day and 28-day tenors and accepted total […]
Govt weighs ‘mini-budget’ or spending cuts ahead of IMF talks on November 8, 2024The government, led by Prime Minister Shehbaz Sharif, is gearing up for high-stakes discussions with the upcoming International Monetary Fund (IMF) staff mission, aiming to finalize a strategy by this weekend. One option under consideration is the introduction of a mini-budget, which could include seven proposed tax hikes across various sectors. However, the Federal Board […]
Remittances surge 24% year-on-year to $3.05bn in October on November 8, 2024Pakistan received $3.1 billion in remittances from overseas workers in October 2024, marking a notable 23.9% increase compared to $2.46 billion in the same month of the previous year, according to data released by the State Bank of Pakistan (SBP) on Friday. On a monthly basis, remittances rose by 6.7% from $2.86 billion in September […]
PSX turns around to bullish trend, gains 499 points By: Agencies on November 8, 2024The 100-Index of the Pakistan Stock Exchange (PSX) turned around to bullish trend on Thursday, gaining 499.05 points, a positive change of 0.54 percent, closing at 92,520.49 points as compared to 92,021.44 points on the last trading day. A total of 678,788,064 shares were traded during the day as compared to 889,166,479 shares the previous […]
Gold prices decrease by Rs.5,400 per tola By: APP on November 8, 2024The price of 24 karat per tola gold decreased by Rs.5,400 and was sold at Rs.276,800 on Thursday compared to its sale at Rs.282,200 on last trading day. The price of 10 grams of 24 karat gold also decreased by Rs.4,630 to Rs.237,311 from Rs. 241,941 whereas the price of 10 gram 22 karat gold […]
Rupee sheds 5 paisa against dollar By: APP on November 8, 2024Pakistani rupee on Thursday depreciated by 5 paisa against the US dollar in the interbank trading and closed at Rs 277.94 against the previous day’s closing of Rs 277.89. However, according to the Forex Association of Pakistan (FAP), the buying and selling rates of the dollar in the open market stood at Rs 277.50 and […]
CDNS decreases Savings Certificate, rates from Nov 4 By: APP on November 8, 2024The Central Directorate of National Savings (CDNS) has decreased the rates of return for its National Savings Certificates, marking amendments across different instruments from November 04, 2024. Return rates for Special Savings Certificates (SSC) have been adjusted down by 12.26 %, and Defense Savings certificates by 12.12 %, the senior official of CDNS told APP […]
GCIL launches ‘Pakistan’s largest ASU plant’ in KP By: News Desk on November 8, 2024Ghani Chemical Industries Limited (GCIL) on Thursday said it successfully commissioned “Pakistan’s largest Air Separation Unit (ASU) plant” in Hattar Special Economic Zone, located in District Haripur, Khyber Pakhtunkhwa (KP). GCIL, engaged in the manufacturing, sale and trading of medical, industrial gases and chemicals, shared the development in a notice to the Pakistan Stock Exchange […]
Maritime sector earns Rs 90 bln profit in last FY: Minister By: APP on November 8, 2024Federal Minister for Maritime Affairs Qaisar Ahmed Sheikh on Thursday said Pakistan’s maritime sector recorded a profit of 90 billion rupees in last fiscal year due to strategic initiatives and investments aimed at transforming Pakistan into a regional maritime hub. Addressing a press conference here at Press Information Department (PID), the minister said the share […]
Machinery imports up by 21.68% in Q1 of FY 2024-25 By: APP on November 8, 2024The imports of the overall machinery group experienced a substantial increase of 21.68 percent during the first quarter of the current fiscal year (July -September) compared to 2023-24. The growth in machinery imports would help elevate productivity and spur technological advancements in essential sectors, leading to economic expansion and progress in infrastructure development. The total […]