Pakistan’s trade deficit shrinks by 14 per cent as imports decline

Pakistan’s trade deficit shrinks by 14 per cent as imports decline

Owing to practical steps taken by the incumbent government, the trade deficit has dropped by 14 per cent in the first 9 months of PTI’s government rule, ARY News reported on Tuesday. According to the Statistical department, the trade deficit remained $33.45 billion in July-March against $47billion in the same...

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Rupee’s value is in tune with the market: Asad Umar

Rupee’s value is in tune with the market: Asad Umar

According to media reports, Finance Minister Asad Umar said that there is no reason for any further devaluation in the rupee. Addressing a ceremony at Pakistan Stock Exchange in Karachi by video link from Islamabad, the Finance Minister said, “Rupee’s value is in tune with the market and the State...

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Pakistan GDP growth to decelerate further to 3.9% this year: ADB

Pakistan GDP growth to decelerate further to 3.9% this year: ADB

The Asian Development Bank has forecast Pakistan’s economic growth to decelerate to 3.9% in fiscal year 2019 following a pronounced widening of the country’s balance of payments deficit in 2018. In its flagship economic publication titled “Asian Development Outlook (ADO) 2019,” the bank said Pakistan’s GDP growth is forecast to...

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FBR extends deadline for filing tax returns to April 30

FBR extends deadline for filing tax returns to April 30

ISLAMABAD: The Federal Board of Revenue (FBR) Sunday further extended the date of filing of income tax returns / wealth statements for the tax year 2018 till April 30. According to FBR statement, the date of filing of returns for companies, individuals and association of persons has also been extended...

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Asad Umar announces to cut diesel, petrol prices by Rs2 per litre

Asad Umar announces to cut diesel, petrol prices by Rs2 per litre

Government has  decided to cut prices of  diesel and petrol  by Rs2  per litre, said Finance Minister Asad Umar on Friday. Addressing a press conference , he said the government wants to  pass on less burden to the people and  as much relief as possible. He said the prices of...

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US dollar hits all-time high of Rs142 in interbank market

US dollar hits all-time high of Rs142 in interbank market

The US dollar hit an all-time high of Rs142 in the interbank market on Friday. The rise in dollar comes owing to the widening current account deficit. On November 23, the US dollar rose to a record high against the rupee as it reached Rs135.30 in the open market. The...

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Remove vulnerabilities to cybersecurity, SBP directs banks

Remove vulnerabilities to cybersecurity, SBP directs banks

The State Bank of Pakistan (SBP) has directed all the banks to immediately conduct self and a third-party audit of their cyber security and remove vulnerabilities. “Failure to comply with the…instructions will lead to penal action by SBP including but not limited to the suspension of non-compliant digital payment products...

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ECC meeting: Majority of members oppose approaching IMF

ECC meeting: Majority of members oppose approaching IMF

The majority of the members of Economic Coordination Committee have on Sunday voted against approaching International Monetary Fund (IMF) for bailout package. According to sources Finance Minister Asad Umar briefed attendants on conditions tabled by the international monetary body. While terming IMF’s conditions ‘harsh’, the attendants warned that economic woes...

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ECC gives approval to pay dues to families of deceased steel mills employees

ECC gives approval to pay dues to families of deceased steel mills employees

The Economic Coordination Committee (ECC) gave approval for giving dues to the families of deceased employees of Pakistan Steel Mills . The ECC session headed by Finance Minister Asad  Umar decided that approximately Rs6.60 billion will be paid to the families of the deceased employees. This amount will be given...

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Mobile phones import rises by 6.2%

Mobile phones import rises by 6.2%

The import of mobile phones into the country during first four months (Jul-Oct) of current fiscal year increased by 6.2 percent as compared to the import during same period of previous year. During the period under review the import of mobile phones remained at $260.41 million against the import worth...

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