SBP hikes interest rate to record 15% on July 8, 2022The benchmark interest rate has been hiked by 125 basis points, bringing the total to 15 percent as decided by the State Bank of Pakistan (SBP). The central bank has cumulatively increased the rate by 800 basis points since September 2021 to control inflation and narrow the current account deficit. This was disclosed by the […]
SBP raises interest rate by 150 basis points to 13.75% on May 24, 2022To keep inflation and economic growth in check, the Monetary Policy Committee (MPC) Monday increased the benchmark policy rate by 150 basis points to 13.75 percent for the next six weeks. Interest rates have risen to their highest level since the end of 2011 when they were at 14 percent. The MPC has been convened […]
PSX bleeds; KSE-100 down over 1,500 points on May 10, 2022After losing more than 1,500 points during intra-day trading on Monday, the Pakistan Stock Exchange (PSX) experienced huge selling pressure. KSE-100 Index fell 3.23 percent on Monday, the largest percentage drop in 2022, because of uncertainty over IMF inflows, increased internal political noise, and a bearish run on regional stock markets. The market began to […]
Australia Day message from Chargé d’Affaires Bryce Hutchesson on January 25, 2022On this Australia Day – when Australians celebrate their nation, its achievements, and its diverse multicultural people – it is timely to reflect on the ties between Australia and Pakistan and opportunities for further advancing the relationship between our two great countries, reads a message from Australia’s Chargé d’Affaires, Bryce Hutchesson released on Tuesday by […]
Covid-19: schools in Sindh to stay closed for one more week on August 21, 2021murad-ali-shahSindh Chief Minister Syed Murad Ali Shah on Friday announced that the educational institutes will remain closed for another week in view of the Covid-19 situation in the province. Addressing a news conference at the CM House, the chief minister said the educational institutions would resume in-person teaching from August 30 which was earlier scheduled […]