ISLAMABAD: Pakistan’s debt burden has risen sharply, pushing the country into what experts are calling a “dangerous debt trap,” according to a new report by the Economic Policy and Business Development (EPBD). The report reveals that every Pakistani now bears a debt of Rs318,252, a steep rise from Rs90,047 a decade ago—more than a threefold […]
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Pakistani rupee gains slightly against US dollar amid global currency movements
The Pakistani rupee gained marginally against the US dollar on Wednesday, appreciating by 0.06%. At the close of trading, the rupee stood at 280.26, a slight gain of Re0.16 from Tuesday’s closing value of 280.42. This improvement reflects a small but notable movement in the inter-bank market. On the global front, the US dollar weakened […]
Ishaq Dar warns sugar mills as prices soar beyond Rs180
Deputy Prime Minister Ishaq Dar announced that retail sugar prices should not exceed Rs164 per kg, following warnings from the Competition Commission of Pakistan (CCP) against price manipulation. Despite government efforts to maintain rates at Rs130 per kg, market prices have surged above Rs180, causing public concern. Sugar consumption is projected to reach 6.7 million […]
PKR slips marginally below 280 against USD after a year
The Pakistani rupee recorded a slight depreciation of 0.04% (Re0.10) against the US dollar in the inter-bank market on Monday, closing at 279.97. This marks the first time in over a year that the local currency has settled below 280 against the greenback. Last week, the PKR saw a gradual decline, losing Re0.30 or 0.11% […]