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Pakistan living beyond its means for several years, says Fitch Solutions
Forecasts GDP growth to slow over coming quarters to clock in at 5.4pc during ongoing fiscal year.
IMF team concludes Pakistan visit as talks continue on possible bailout
"Positive engagement with IMF will continue over the coming weeks to finalise the programme with the Fund."
Differences remain over tough conditions of IMF bailout
Fund wants further increase in power tariff, more taxes and complete disclosure of Chinese financial support.
$1bn received from Saudi Arabia: State Bank of Pakistan
The $1 billion are part of the $3bn package promised by the kingdom during the visit of Prime Minister Imran Khan.
Asia tech stocks dive while Ghosn arrest slams Nissan, Mitsubishi
After a brief couple of days of stability, panic has returned to trading floors.
EU ministers agree on terms of ‘painful’ Brexit divorce
Britain will leave the Union on March 29 next year, but will remain within its single market for a further 21 months.
Govt vows to protect foreign investors
A total foreign direct investment of $600 million was received by the country during 1QFY19.
Ban on industrial gas connections to be lifted
The moratorium on fresh connections on local gas to the industrial sector was imposed in 2011.
Stocks dip 308 points amid economic concerns
Investors’ concerns deepened on President Trump’s new tirade at Pakistan.
TAPI inspires China to launch a similar pipeline project
Prime Minister Imran Khan is expected to inaugurate the 780km-long portion of the TAPI project, Dawn has learnt.
EXCHANGE RATES
Exchange Rates for Currency Notes
| Countries | Selling (Rs.) | Buying (Rs.) |
|---|---|---|
| U.S.A. | 133.70 | 134.20 |
| U.K. | 172.00174.0 | - |
| Euro | 151.00152.5 | - |
| Japan | 1.1500 | 1.1800 |
| Saudi Arabia | 35.40 | 35.60 |
| U.A.E. | 36.00 | 36.50 |
Highlights
Aurora
BULLION RATES
| City | Gold (24-ct) | Silver |
|---|---|---|
| Karachi | 52,898 | 711.59 |
| Multan | 50,750 | 703.00 |
Business & Finance
Cost cuts in media
"The government has cut its media spend by more than 70 per cent and companies by almost 50pc".
Harshest ever fiscal adjustment
Another round of energy price increase will follow soon to ensure 100pc recovery of gas and electricity costs.
Our ever-widening inequality
It does not take a sociologist to fathom that besides the economic pressure low ...
Intricacies of domestic debt management
A large fiscal deficit is likely to compel the government to continue financing a large part of it through...