The Pakistan Rupee appreciated against the US Dollar (USD) on Tuesday and continued its run against the dollar. It gained 75 paisas against the dollar and closed at 170.54, posting a growth of 2.77 percent since crashing to an all-time low in October.O…
Azfar Ahsan Appointed as Chairman Board of Investment
Muhammad Azfar Ahsan, a seasoned strategic engagements and communications specialist in the corporate sector, has been appointed as the Chairman Board of Investment (BoI) and State Minister, ProPakistani has confirmed with its sources.He will be replac…
State Bank Amendment Bill Breaches the Constitution: Farogh Naseem
The law minister, in a briefing session with the IMF, mentioned that section 46B (8) in the State Bank (Amendment) Bill breaches the constitution.Talking through a video link, the minister highlighted the newly introduced provision which suggests that …
Monthly Petroleum Sales in October Up by 17% YoY to 1.99 Million Tons
Pakistan’s monthly petroleum consumption surged to an all-time high in October 2021, second only to the monthly sales of May 2018, amid growing economic activity and increasing oil prices. PSO posted the highest monthly sales, followed by SHEL.In Octob…
Pakistan’s Trade Deficit Doubled in First Four Months of FY 2022: Pakistan Bureau of Statistics
In the first four months (July-Oct) of FY22, Pakistan’s import expenditure more than doubled primarily due to investment-related imports. Exports also grew but were unable to contain the trade deficit. Consequently, the trade deficit also more than dou…
Privatization of Two RLNG-based Power Plants Hits a Snag Due to Circular Debt
In pursuit of meeting IMF’s requirement, the government is struggling to privatize two RLNG-based power plants due to pandemic and accumulation of circular debt of Rs. 145 billion.The Cabinet Committee on Privatization cleared two re-gasified liquefied…
NBP Provides Latest Update on Recovery After Cyberattack
The National Bank of Pakistan (NBP) has reported a continuing successful operational recovery from the cyberattack on its systems that occurred on October 29.According to details, NBP has confirmed that over 1,000 branches of the bank operated on Monda…
Finance Advisor Provides Important Update on Pakistan’s Talks with IMF
Advisor to the Prime Minister on Finance, Shaukat Tarin, informed that the matters with IMF have been settled and a formal agreement would be reached within a couple of days to revive the 6 billion USD Extended Fund Facility (EFF).He was talking to the…