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Petrol Price Decreased by Rs5 per Litre for the Next Fortnight by Govt. The federal government has announced a decrease in petrol prices by Rs5 per litre for the upcoming two weeks to provide relief to the masses who are already burdened by inflation. In a press conference held on Tuesday, Finance and Revenue Minister …
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Pakistan’s Iftikhar Ahmed & Company (IAC), a leading fresh juice and pulp producing company, has attracted international clients at the Gulf Food & Beverages Exhibition. The event, which ended on February 24, drew businessmen from 125 countries and featured products from over 5,000 companies. Waheed Ahmed, the Director of IAC and the patron in chief …
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Friday was the third day in a row that the Pakistani currency kept going up, and it recovered to around Rs260 to a dollar on the inter-bank market. According to the State Bank of Pakistan, the value of the rupee against the dollar went up by 0.36%, or Rs0.94, to a one-month high of Rs259.99 …
Due to the current economic crisis and restrictions on the import of raw steel materials, the price of steel rebar has gone up by a lot. This has caused problems between builders and the people who make the metal. In a statement, the Association of Builders and Developers of Pakistan (ABAD) said that it was …
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On February 23, 2023, K-Electric (KE) hosted a visit from senior officials of the National Electric Power Regulatory Authority (NEPRA), led by Member (Technical) Rafique Ahmad Shaikh. The purpose of the visit was to assess KE’s performance and compliance with NEPRA’s regulations, including the Act, Performance Standards (Distribution) Rules 2005, Distribution Code, and other applicable …
Pakistan’s weekly inflation, measured by the Sensitive Price Indicator (SPI), has jumped to 41.54% on a year-on-year basis for the week ended on Feb 23. This is the first time inflation has crossed the 40% mark in over five months. The previous week saw an increase of 2.89% to reach 38.42%. The increase was mainly …
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The unfair tax on the cigarette industry by the federal government will incline users towards illegal cigarettes. The recent increase in federal excise duty on cigarettes in the federal budget and the proliferation of illegal cigarettes in the country have raised new questions. The federal government is relying heavily on cigarettes to generate 170 billion …
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The Pakistani rupee had been going up for five days in a row, but on Tuesday, it lost 0.24% on the interbank market. On the interbank market, the local unit ended the day at 262.51 against the US dollar. This was down Rs0.63 from Monday’s close, when it was at 261.88. Pakistan’s real effective exchange …
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Pakistan received a significant boost to its foreign exchange reserves after the China Development Bank approved a $700 million loan facility. Finance Minister Ishaq Dar announced the news on Twitter, stating that the loan is expected to be received by the State Bank of Pakistan this week. The loan will help bolster Pakistan’s forex reserves, …
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In various regions of Pakistan, there has been a recent report of a fuel shortage that has caused inconvenience to many commuters, especially in Punjab. The government has attributed the crisis to hoarding, which has been triggered by speculation of a substantial increase in pump prices. However, despite the shortage, it presents an opportunity to …
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