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Fresh currency notes worth Rs360bn issued for Eid

Karachi (Web Desk) As people seeks to collect crisp currency notes to distribute as Eidi, paper money worth Rs360 billion was issued across the country ahead of Eid-ul-Fitr. According to the State Bank of Pakistan, the demand for currency notes this year was 50% more than what it was in …

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WB to give $500m for solar energy, regional connectivity

ISLAMABAD (Web Desk) The World Bank is committing over half a billion dollars through two projects to support renewable energy in Sindh and expand economic activity between Pakistan and Afghanistan through the development of an economic corridor along the Khyber Pass. “The projects will address Sindh’s energy needs through the generation …

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Meat prices skyrocket before Eid

KARACHI (Web Desk) Prices of meat shot up by almost 100 per cent in some places in the run up to Eidul Fitr. After raising beef prices by Rs20 per kg in March the retailers had fixed the rate at Rs460-480 per kg for veal with bones and Rs560-580 per kg …

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Pak rupee hits Rs123 mark in inter-bank trade

KARACHI (Web Desk) Pakistani rupee continued to lose its footing against surging US dollar in the open market after the local currency hit a record low of Rs123 to greenback in intra-day trade in inter-bank market on Thursday. The inter-bank market marked the steep low during the closing hours when commercial …

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Mobile phone users to get 100pc credit on all prepaid cards

ISLAMABAD (Web Desk) Cellular service providers will provide customers with 100 percent credit on all prepaid mobile cards for a period of 15 days, sources informed the Geo News on Wednesday. Sources said the decision was made at a meeting between the Federal Board of Revenue (FBR) officials and representatives …

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Pakistan Eurobonds fall after rupee slump

LONDON (Web Desk) Pakistan’s Eurobonds fell following what traders said appeared to be the country’s third currency devaluation in seven months.The 2027-maturing bond fell 0.75 cents to trade at 89.76 cents – the first time the bond had slipped below the 90 cent mark, Thomson Reuters data showed. A 2025 …

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Pakistan has $12.8b untapped potential for exports

KARACHI (Web Desk) Exports from Pakistan have gone up in the current fiscal year. According to data retrieved from the State Bank of Pakistan (SBP), the growth in exports has been positive for all months since May 2017. Average growth has been more than 11%.This is a reversal of the …

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No decision taken yet on IMF bailout package: Finance Ministry

ISLAMABAD (Web Desk) The Finance Ministry on Thursday clarified that the government had not yet taken any decision to go to the International Monetary Fund (IMF) for any bailout package.It is clarified that the Finance Minister has been misquoted by a section of the press as the government has not …

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