Business
Business
Pak Banks wary of LCs threaten food supply
Despite the State Bank of Pakistan's (SBP) import facilitation directives, banks are hesitant to open letters of credit (LCs) for…
SBP’s forex reserves drop below $4.5bn.
The State Bank of Pakistan's (SBP) foreign exchange reserves dropped from $1,233 million to $ 4.34 billion. As of January…
Pakistan, Saudi Arabia to ink $1bn oil sector agreement
Pakistan and Saudi Arabia are expected to ink an agreement of over $1 billion in the oil sector, through the…
World Bank forecasts Pakistan’s GDP growth 2%
Due to the severe floods and global growth slowdown, the World Bank has lowered Pakistan's GDP growth prediction from 4%…
PTA reports telecom sector’s revenue of Rs694 billion in 2021-2022
Pakistan Telecommunication Authority's (PTA) annual report indicated the telecom sector made Rs694 billion in FY 2021-2022. The telecom sector earned…
Saudi Arabia to increase Pakistan deposit amount to $10b
Pakistan's efforts to strengthen its forex reserves, Saudi Crown Prince Mohammad Bin Salman directed authorities to increase the deposit by…
Pakistanis accumulate 90% USD: FBR
The Federal Board of Revenue (FBR) claims 90% of the dollars are accumulated in Pakistan, while currency smuggling accounts for…
Exchange firms offer Open-market LCs for imports
Pakistan's Exchange firms offered to open and pay for the opening of letters of credit for imports because banks lacked…
Pak Suzuki extends plant closure due to inventory shortages
Pak Suzuki Motor Company Limited (PSMC), one of Pakistan's largest car manufacturers, has extended the plant's closure until January 13.…