November 21, 2024
Business

Rupee depreciation increases the cost of the ML-1 by 45%

ISLAMABAD: Islamabad is prepared to sanction the increased price of the stalled project Mainline-1 up-grading of rail connection and supply of its security with a huge escalated cost of 45% just ahead of Prime Minister Shehbaz Sharif’s planned visit to China.The updated price tag for upgrading ML-1 and building the dry port at Havelian is […]

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Business

Nepra will choose the price to purchase electricity from solar-powered users

A public hearing has been planned by the National Electric and Power Regulatory Authority (NEPRA) to change the regulations governing solar panels and net metering, which may result in higher electricity costs for homeowners with these systems. According to a Nepra release, the hearing will take place on September 27, 2022, to discuss changes to […]

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Business

Dollar’s upward trend continues, while the rupee keeps declining

The US dollar increased by Rs1.12 on Monday during intraday trade in the interbank market, reaching Rs237.96. In the previous week, the Pakistani rupee lost Rs8.66 against the US dollar in the interbank currency market. As this flight of US dollars continues, the federal government authorities have decided to launch a crackdown against hoarders and […]

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Business

3 Pipeline Companies Apply for OGRA Permit as Pakistan’s LNG Market Expands

Three additional applicants for the virtual pipeline projects have submitted applications to OGRA for the grant of provisional licenses, bringing the total number of virtual Liquefied Natural Gas (LNG) pipeline licensees to five. In accordance with the Oil and Gas Regulatory Authority’s (OGRA) annual report for 2022–21, the authority had given two companies, Daewoo Gas […]

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Business

The PKR continues to depreciate against the dollar, losing Rs. 1.12 in interbank

The rupee, which has been losing value for more than a week, lost Rs1.12 to the dollar in Friday’s opening interbank trade. The Forex Association of Pakistan reports that at 12:33 PM, the PKR was trading at Rs237 per USD (FAP).This represents a decrease of 0.47 percent from yesterday’s close of Rs235.88. The increased import […]

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Business

The rupee weakens versus the dollar for the tenth session in a row

In addition to the loans that were anticipated from international and bilateral institutions, the Pakistani rupee resumed its downward trend on Thursday, falling against the dollar for the tenth straight day. The rupee lost Rs1.68 in intraday activity on the interbank market, falling to Rs236 from its previous close of Rs234.32 against the dollar. Following […]

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Business

ZTBL to Defer Rs. 20 Billion in Farmer Loans from Balochistan and Sindh

In accordance with the Prime Minister’s instructions, Zarai Taraqiati Bank Ltd (ZTBL) has chosen to help farmers in flood-affected areas by postponing debts totaling Rs. 20 billion. According to ZTBL authorities, the loans would be postponed for a year. About 57 000 farmers will profit from this policy. In a statement, the bank underlined that […]

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Business

The Pakistani rupee falls for the ninth session in a row

KARACHI: Due to the dire economic scenario brought on by historic flooding around the nation, the Pakistani rupee extended its downward trend against the dollar for the ninth session in a row on Wednesday. According to information provided by the State Bank of Pakistan, the local currency decreased 2.40 Pakistani rupee to settle at Rs234.32 […]

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Business

Floods and political unrest are to blame for the rupee ongoing decline versus the dollar

KARACHI: On Tuesday, the Pakistani rupee lost ground against the US dollar for the eighth straight session due to devastation from floods and ongoing political unrest.The local currency shed Rs1.62 from yesterday’s close of Rs229.82, or Rs2.1, to Rs231.92 in the interbank market.Additionally, the rupee decreased versus the dollar last week by Rs9.21, or 4.2% […]

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Business

Rupee’s losing streak versus the dollar continues

As the tremendous destruction brought on by the floods continues to deepen the nation’s economic situation, the Pakistani rupee’s losing trend versus the US dollar continued on Monday as the new business week got underway.As of 12:30 p.m., the local currency had lost Rs0.82 and was trading at Rs229 against the US dollar in intraday […]

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