The delay in the procurement of wheat is causing problems for farmers in the cultivation of cotton crop. Citing sources in the provincial agriculture department, local media reported on Monday that Punjab may miss the cotton cultivation target owing to the wheat crisis. Sources said that the cotton cultivation target
The Pakistani rupee (PKR) started the new week with losses against the US Dollar today after opening trade at 278 in the interbank market. It was bearish all day and closed in red against the greenback. It also posted massive losses against other major currencies during today’s session. The interbank
The federal government and International Monetary Fund (IMF) will commence policy-level talks today on negotiating a new and likely $6-8 billion bailout program spread over at least three years, Finance Ministry sources told ProPakistani. Sources said policy-level talks between the two sides will continue until May 23. They said the
The price of gold in Pakistan surged past the Rs. 250,000 per tola mark on Monday. According to data issued by the Karachi Sarafa Association, the price of gold (24 carats) rose by Rs. 2,300 per tola to Rs. 250,400, while the price of 10 grams went up by Rs.
International investors want Pakistan to remit dividends owed to their shareholders in power plants under the China-Pakistan Economic Corridor (CPEC). The pending dues for CPEC power projects are around Rs. 550 billion. This was a key issue raised by China when Foreign Minister Ishaq Dar and Planning Minister Ahsan Iqbal
The banking deposits increased by over 21 percent to Rs. 28.4 trillion as of April 2024 compared to Rs. 23.4 trillion as of April 2023. According to data released by the State Bank of Pakistan (SBP), advances decreased by 0.7 percent year-over-year to Rs. 12 trillion during the same period
The State Bank of Pakistan has granted approval to Bank Alfalah Limited (PSX: BAFL) to commence due diligence of Samba Bank Limited, the bank informed the main bourse on Monday. ‘We are pleased to inform you that the State Bank of Pakistan has granted its approval to BAFL to commence
Ambassador of Sweden to Pakistan Henrik Persson called on Minister of State for IT and Telecommunication Shaza Fatima Khawaja on Monday. Views were exchanged on matters of mutual interest and boosting cooperation in the field of IT and telecommunication between the two countries. While talking to the Swedish Ambassador, the