ISLAMABAD – The economic crisis in Pakistan appears to further worsensing as the government has reportedly not released the funds for the country's embassies and missions abroad including the payment of salaries of their employees. The Express News, quoting its sources, claimed that the ...

KARACHI – Pakistan’s foreign exchange reserves have further fallen to $3.7 billion, its lowest levels since February 2014, as the country’s economic crisis worsen in recent weeks. The reserves held by the central bank have been persistently shrinking since the beginning of the current ...

ISLAMABAD – The International Monetary Fund has placed Pakistan at the 180th spot out of 190 countries in terms of the ratio of fiscal revenue to GDP. The South Asian country, which is facing economic woes due to depleting foreign exchange reserves, has fiscal revenue to GDP ratio at 12.1 ...

KARACHI – The US Dollar continued its surge, and skyrocketed to over Rs252 against the Pakistani rupee in the open exchange market, a day after money changers announced removal of the price cap on the greenback. Reports in local media quoting money changers said the USD slashed all previous ...

ISLAMABAD: The Federal Cabinet ordered the authorities concerned for formulation of a comprehensive strategy to prevent the recurrence of prolonged power outages in the future and to do away with the factors causing it. The cabinet, in a meeting chaired by Prime Minister Shehbaz Sharif, ...

KARACHI – The State Bank of Pakistan has revised annual growth forecasts to 3-4 percent for the current fiscal year. In the Annual Report, the central bank projects real Gross Domestic Product growth below the previously announced range for the current fiscal year, citing massive floods, and ...

Pakistan rupee recovered late to remain stable against the US dollar at the close of the interbank trading Saturday after losing a little shine in early hours. Pakistani rupee made a comeback in interbank trading as the greenback gained 6 paisa in its value in early trading. According to data ...

Pakistan’s biggest carmaker Indus Motor Company Monday wrote a letter to the Pakistan Stock Exchange (PSE) announcing the shutting down of the production plant for 11 days due to a shortage of parts and raw materials. Toyota and Daihatsu manufacturers wrote a letter to the Stock ...

Prime Minister Shehbaz Sharif has summoned an emergency meeting of his economic team to get a briefing on the economic condition of the country. According to sources, the meeting will begin shortly. Finance Minister Ishaq Dar, State Bank of Pakistan Governor Jameel Ahmed and Federal Board of ...

The number of Roshan Digital Account (RDA) holders has reached 500,000, according to the State Bank of Pakistan’s (SBP). “Thanks to our Overseas Pakistanis & participating banks, we have passed the major milestone of 500,000 Roshan Digital Accounts,” the central bank said in a Tweet on ...