KARACHI: The United States Dollar climbed a further Rs0.46 in the interbank market and is being traded at Rs166.60, ARY News reported. The US dollar on Friday touched the highest mark against the Pakistani rupee in the interbank market and closed at Rs168. It is pertinent to mention here that during the past week, the dollar gained 6.87
ISLAMABAD: Adviser to Prime Minister on Finance and Revenue Abdul Hafeez Shaikh will chair a meeting of the Economic Coordination Committee (ECC) on Wednesday (tomorrow), ARY NEWS reported. The meeting would mull over a five-point agenda including the tabling of a summary from the ministry of commerce and industry clarifying the decision to export sugar.
Australia on Sunday announced a $38 billion spending plan to limit the economic damage from the coronavirus pandemic, as citizens were told to cancel domestic travel plans to slow the virus spread. Treasurer Josh Frydenberg said the latest Aus$66 billion announced Sunday brought government and central bank measures to support the economy to Aus$189 billion ? or nearly 10 percent of gross domestic product (GDP).
KARACHI: Nisab for Zakat deduction on bank accounts for the current lunar year has been fixed at Rs46,329. According to a notification put out by the Poverty Alleviation and Social Division, no Zakat deduction at source will be made in case ?the amount standing to the credit of an account in respect of the assets mentioned in column 2 Serial No.1
Men sell vegetables at their makeshift stalls at the Empress Market in Karachi, Pakistan> Photo: Reuters ISLAMABAD: Economists have cautioned the government that if the coronavirus pandemic prolongs, the first one to be impacted will be perishable food items and then the staple food items, reported The News. For an uninterrupted food supply, they recommend, the government must maintain the provision of input to farmers, mobility of labour in the agriculture sector, and shipment of food from farm to markets and market to retailers.
Photo: File ISLAMABAD: The government on Thursday imposed restrictions on the import of petrol and crude oil starting April and directed all oil marketing companies (OMCs) to lift petroleum products from local refineries as demand goes down in the wake of a countrywide lockdown to limit the spread of the coronavirus, reported The News.
SBP ISLAMABAD: The State Bank of Pakistan has reduced the time to clear a cheque, in order to limit person-to-person interaction, the institution said on Saturday. In a circular, the SBP said that according to the new instructions the payee (person depositing the cheque) can now deposit the cheque directly into the drawee's bank, instead of their own branch.
KARACHI: The greenback gained to record levels against the rupee on Thursday as it climbed a further Rs5.85 in the interbank market and was being traded at Rs167.45, Geo News reported. The dollar has gained Rs8.45 in the past three days as a back-to-back reduction in interest rates catalyses foreign capital flight from Pakistan's debt market.
Asian equities enjoyed some much-needed gains Friday after another volatile week on global markets as investors took solace in a blockbuster series of government and central bank measures aimed at cushioning the economic blow from the coronavirus. The dollar also eased somewhat after a lengthy rally fuelled by traders cashing out of their investments, while the embattled oil market extended Thursday?s gains.
KARACHI: Textile mills on Thursday demanded that the government freeze gas and electricity bills for the spinning industry for at least two months to help it underpin exports sector amid the spread of the coronavirus that holds a potential recession risk, reported The News. All Pakistan Textile Mills Association said that the government should help the textile spinning industry by freezing gas and electricity bills for at least two months ?so that the industry may operate without any interruption in these difficult times and also to avoid mass unemployment of the workers?.