Finance Minister said that Pakistani rupee’s depreciation was a global phenomenon and the value of PKR would strengthen in the days ahead.
Economy
China’s imports of Russian oil totalled 7.29 million tons, up nearly 10 percent from a year ago, according to data from the Chinese General Administration of Customs.
The Pakistani rupee continued to lose value on Wednesday after breaking all previous records, falling to Rs226 after losing 4.1…
The government has informed NEPRA that it wanted to increase power rates for consumers of the “unprotected category” using up to 100 units per month by about Rs4.06 per unit instead of Rs7.91,hence this burden has to be passed on to the higher consumption categories.
Pakistan’s stock market has lost another 978 points on Tuesday amid growing political and economic uncertainty in the country in…
The rating comes even though Islamabad had agreed to a staff-level agreement with the International Monetary Fund (IMF) last week.
On June 22, the rupee had closed at a record low of 211.93 against the greenback and since then the currency has remained volatile.
At the beginning of the trade, the market started at 42,074 points, but later at 1:14pm, it plunged over 750 points, hitting 41,329 points.