Category: Business

Business news from Pakistan

Miftah says 5.97% GDP growth rate in FY22 is unsustainable

Unveiling an important budgetary document, Economic Survey (2021-22) here on Thursday, Minister for Finance and Revenue, Miftah Ismail termed the GDP growth rate of 5.97 percent during the outgoing fiscal year as unsustainable, saying the country needed to stabilize the economy before moving towards sustainable economic growth. He said the country’s economic growth witnessed a… Continue reading Miftah says 5.97% GDP growth rate in FY22 is unsustainable

Pakistan Economic Survey 2021-22 launched

Oil import bill increases to $17bn

ISLAMABAD, JUNE 09 (APP): Federal Minister for Finance and Revenue, Miftah Ismail Thursday formally launched the pre-budget document, ‘Pakistan Economic Survey 2021-22’. Among others, the launching ceremony was attended by minister for Planning, Development and Special Initiatives, Federal Minister for Power, Khurram Dastigir, State minister for Finance and Revenue, Aisha Ghaus pasha and other government… Continue reading Pakistan Economic Survey 2021-22 launched

Over Rs9 trillion national budget to be presented on Friday

ISLAMABAD, Jun 9 (APP):The incumbent coalition government is all set to present the federal budget for the fiscal year 2022-23, with an estimated outlay of over Rs9 trillion, on June 10 (Friday). The National Assembly is already in session where the budget for the fiscal year 2022-23 would be presented by Finance Minister, Miftah Ismail… Continue reading Over Rs9 trillion national budget to be presented on Friday

KE seeks Rs 4.859 per unit increase for April

ISLAMABAD, Jun 9 (APP):Karachi-Electric has sought an increase of Rs4.859 per unit in power tariff on account of monthly fuel cost adjustment (FCA) for April 22. Under the approved mechanism outlined in KE’s Multi-Year Tariff (MYT) approved by power regulator NEPRA, KE filed petition for an increase of Rs4.849 per unit to be passed on… Continue reading KE seeks Rs 4.859 per unit increase for April

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Kerb currency market

KARACHI, Jun 09 (APP):Following were the Opening Rates of foreign currencies in kerb market issued by the Forex Association of Pakistan (FAP), here on Thursday. F.C. LOW RATE HIGH RATEU.S $ (Inter Bank) 200.80 201.40U.S $ (Cash Free Market) 200.50 201.50 SAUDIA RIYAL 53.20 53.70UAE DIRHAM 54.50 55.10EURO 214.00 216.00 UK POUND 250.00 253.00JAPANI YEN… Continue reading Kerb currency market

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Foreign exchange rates

KARACHI, Jun 09 (APP):The Exchange Rates Committee of Financial Markets Association of Pakistan issued the following Exchange rates bulletin, here on Thursday. CONVERSION RATES FOR JUNE 09, 2022 FOR FOREIGN CURRENCYFOR FORWARD COVER FOR DEPOSITS (EXCLUDING FE 25 DEPOSITS) SBP SETTLEMENT VALUE DATE JUNE 13, 2022 USD 201.3455 GBP 252.2054 EUR 215.1578 JPY 1.5057

NBP Exchange Rates

KARACHI, Jun 09 (APP):Treasury Management Division of National Bank of Pakistan (NBP) on Thursday issued the following exchange rates. CURRENCY SYMBOL TT Selling TT BuyingU.S DOLLAR USD 200.95 200.45EURO EUR 216.06 215.52 JAPANESE YEN JPY 1.5001 1.4964BRITISH POUND GBP 252.16 251.53SWISS FRANC CHF 205.64 205.13 CANADIAN DOLLAR CAD 160.05 159.65AUSTRALIAN DOLAR AUD 144.36 144.00SWEDISH KRONA… Continue reading NBP Exchange Rates

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EXCHANGE RATES FOR CURRENCY NOTES

KARACHI, Jun 09 (APP):CURRENCY SELLING BUYING USD 202.96 198.45GBP 254.68 248.96EUR 217.81 213.36 JPY 1.5151 1.4814SAR 54.17 52.83AED 55.27 54.38 LIBOR LIBOR FOR CALCULATING INTEREST ON SPECIAL USD BONDSLIBOR 1M 1.19029LIBOR 3M 1.69043LIBOR 6M 2.23843 US DOLLAR Indicative FBP Rates CURRENCY SIGHT/15 DAYS 1M 2M 3M 4M 5M 6M USD 199.31 198.20 196.02 193.83 192.40… Continue reading EXCHANGE RATES FOR CURRENCY NOTES

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Currency rates of NBP

KARACHI, Jun 09 (APP):Following are the selling/buying rates Of major currencies issued by the National Bank of Pakistan (NBP), here on Thursday. CURRENCY SELLING BUYINGUSD 202.96 198.45GBP 254.68 248.96EUR 217.81 213.36 JPY 1.5151 1.4814SAR 54.17 52.83AED 55.27 54.38

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Development of GB government’s top priority: Miftah

Summary on supply of milling wheat from Russia submitted to ECC

ISLAMABAD, Jun 09 (APP):Federal Minister for Finance and Revenue, Miftah Ismail on Thursday extended full support of the present government for the development of Gilgit-Baltistan (GB) on priority basis. He stated this while chairing the meeting with Gilgit-Baltistan Chief Minister Khalid Khursheed which was also attended by Secretary Finance and other senior officers from GB… Continue reading Development of GB government’s top priority: Miftah

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Economic Survey 2021-22 to be unveiled on Thursday

ISLAMABAD, Jun 8 (APP):The federal government will launch the pre-budget document, Economic Survey of Pakistan 2021-22 on Thursday showing a robust GDP growth rate of 5.97 percent, with higher Current Account Deficit of over $13.7 billion, and a mixed trend of performance by the key macro economic indicators during the year. The Survey is scheduled… Continue reading Economic Survey 2021-22 to be unveiled on Thursday

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