Rs1.41tr development budget set to pursue 2.3pc growth target
Balochistan CM denounces ‘less preference and strategy’ for his province.
Minister defends Steel Mills retrenchment decision
Hammad says those opposing government’s plan are only playing politics.
Exports fall again in May, but recover from April low
Gradual easing of lockdowns across the world has helped trade.
Cabinet panel opens debate on outsourcing of major airports
Regulatory part of CAA and commercial part of operations discussed.
Flour price shoots up as wheat crisis in Sindh deepens
Flour millers raise prices by Rs2 per kg on various varieties of flour a day after increasing rates by Re1 to Rs3 per kg.
Traders among hundreds held over SOP violation in Peshawar
Shops sealed, transporters, commuters fined in different parts of province.
Oil marketing companies blame energy ministry for fuel shortage
CCP has initiated an inquiry to ascertain whether the oil shortages were caused by anti-competitive activities.
Reserves down on $1.7bn debt payments
Government pays $1.67 billion as debt servicing, bringing SBP reserves down to around $10.36bn — a five-month low.
Investors take profits as ECB boosts firepower
Euro rises as ECB adds another 600 billion euros to its already gigantic stimulus war chest.
Tractor orders drop as farmers await promised sales tax reduction
Growers are expecting a price cut as locally made tractors carry 5pc sales tax.
EXCHANGE RATES
Exchange Rates for Currency Notes
| Countries | Selling (Rs.) | Buying (Rs.) |
|---|---|---|
| U.S.A. | 158.50 | 157.50 |
| U.K. | 188.00 | 186.00 |
| Euro | 171.00 | 169.50 |
| Japan | 1.3900 | 1.3700 |
| Saudi Arabia | 39.75 | 39.25 |
| U.A.E. | 42.00 | 41.50 |
Highlights
BULLION RATES
| City | Gold (24-ct) | Silver |
|---|---|---|
| Karachi | 76,732 | 771.60 |
| Multan | 75,440 | 823.00 |
Business & Finance
Coronavirus upheaval tosses big players to the sidelines
Uncertainty, fear and clipped family income altered the Eid market beyond recognition.
M&As to pick up pace
Companies have the option to either scale down their production or seek a similar business entity to join forces.
A difficult budget
Both the prime minister and his adviser on finance have shunned proposals calling for even a slight increase in tax rates.
Weekly rupee-dollar parity
Published in Dawn, The Business and Finance Weekly, June 1st, 2020