Due to several manufacturers ceasing operations in Pakistan, the country’s mobile phone industry is currently experiencing a severe setback. One of the primary factors in the companies’ decision is the non-opening of Letters of Credit (LCs).
KARACHI: Around noon on Friday, the Pakistani rupee had a significant comeback versus the US dollar, rising 4.5%, or more than Rs12, to Rs273.
The first of the nine ships bringing 50,000 metric tonnes of wheat from Russia to Pakistan arrived at the Gwadar port, according to Pasand Khan Buledi, chairman of the Gwadar Port Authority (GPA).
Nestlé Pakistan Ltd (Nestlé), a major manufacturer of consumer goods, reported a record profit of more than Rs 15 billion in 2022.
The Federal Board of Revenue (FBR) collected Rs527.20 billion in tax in February, representing a 17% increase over the tax collection body’s objective.
On the interbank market on Thursday, the Pakistani rupee plunged drastically by Rs18.74 versus the dollar, reaching a record high of Rs284.85 in morning trade, according to information provided by the Exchange Companies Association of Pakistan (Ecap).
To assist oil refineries in increasing their production capacity and meeting the nation’s demand, the Cabinet Committee on Energy (CCOE) may approve a tariff protection of 10% deemed duty on diesel and 2.5% on petrol.
An agreement worth $1 billion was struck on Friday to boost trade between Pakistan and Uzbekistan, according to a statement from Pakistan’s Ministry of Economic Affairs
The State Bank of Pakistan (SBP) said on Thursday that Pakistan’s foreign exchange reserves held by the central bank increased by $66 million to $3.258 billion in the week ending February 17
According to the World Bank, Pakistani policies that are successfully implemented might result in the creation of 7.3 million additional jobs for women.
Toyota hiked the price of its vehicles for the third time in the last 30 days. These estimated expenses, according to the corporation, are merely indicative and could fluctuate.
One of the primary issues facing the world economy now is inflation. Due to the severe macroeconomic difficulties and flooding that Pakistan endured in 2022, the situation there is considerably worse.
