As the IMF's $3 billion stand-by arrangement initiated its first review on Thursday, the Pakistani rupee experienced a declining trend against the US dollar, casting uncertainty on future prospects, Dawn reported on Thursday.
For domestic consumers, gas prices are set to surge by up to 172 per cent, with commercial consumers facing a 137 per cent increase, while cement manufacturers will experience a staggering 193 per cent hike starting November 1.
Amid the ongoing outrage over inflated electricity bills, the Power Division of Pakistan has recovered over Pakistan Rupee (PKR) 6 billion during a countrywide power theft crackdown, reported ARY News.
In a report submitted to a meeting chaired by acting chief minister Mohsin Naqvi, it was revealed that sugar refineries and traders were charging Pakistan Rupee (PKR) 180 per kg instead of the 'very fair notified retail price' of about PKR 100 per kg.
The lender insists that one more IMF program will be necessary to solve structural issues. The government has agreed to notify the public as soon as electricity rates increase by 5 Pakistan Rupees (PKR) per unit and gas prices increase by more than 40%, according to the report. This is becau
Pakistani's economy has reached rock bottom as the rupee plummeted to 250 against the US dollar and the value of currency depreciated, marking the worst economic crisis since the nation formed, Asian Lite reported.
Ishaq Dar made the announcement in a televised address on Sunday. He said that the price of kerosene oil and light diesel oil were increased by PKR 18 per litre.
Islamabad [Pakistan], July 31 (ANI): As the Shehbaz Sharif government and former Prime Minister Imran Khan are engaged in a blame game over the country's economic situation, the Pakistan Rupee dropped to a record level and the inflation spiralled up to 38 per cent making the lives of the peo
Islamabad [Pakistan], July 28 (ANI): Pakistan rupee depreciated at a record low against the US dollar on Thursday as it dropped to PKR 240.5 against the dollar in the interbank market.
Islamabad [Pakistan], July 26 (ANI): Pakistan rupee depreciated at a record low against the US dollar on Tuesday as it dropped to PKR 231 against the dollar in the interbank market, local media reported.