Author: zerfeshan arshad

Prime Minister meets with Kazakhstan’s President to discuss bilateral relations Prime Minister Imran Khan stated on Thursday that Pakistan is committed to enhancing its engagement with Central Asian countries in a comprehensive manner through its “Vision Central Asia” strategy. On the margins of the SCO Council of Heads of State summit in Dushanbe, he spoke with Kazakhstan’s President Kassym-Jomart Tokayev. Prime Minister Imran Khan emphasized the importance of connectivity, as well as Pakistan’s key role in providing the quickest path to the sea. He also emphasized the importance of the Trans-Afghan railway project, which runs from Termez to Mazar-e-Sharif, Kabul…

Rupees Recovers 94 paisas after reversing its declining trend On Thursday, the rupee regained approximately Re1 versus the US dollar in the interbank market. The local currency finished at Rs168.18 versus the US dollar, up 94 paisas or 0.56 percent, according to the State Bank of Pakistan (SBP). On Wednesday, the rupee reached an all-time high of Rs169.12 versus the US dollar. The local currency has lost about Rs1.87 versus the greenback in the previous five days, according to Arif Habib Limited. Since reaching a 22-month high of Rs152.27 on May 14, 2021, the currency has continued to fall, shedding…

Pakistani Cabinet declines to increase parliamentarians’ salaries. A proposal for a 10% rise in the basic salary of lawmakers, including members of the National Assembly, Speaker of the Assembly, Senate Chairman, and their deputies, was rejected by Pakistan’s federal cabinet. Prime Minister Imran Khan presided over the cabinet meeting in Islamabad on Tuesday, which was called a special session to discuss the pay rise in light of the prime minister’s austerity measures aimed at cutting government spending. The decision to reject the planned 10% increase in parliamentary pay, according to Information Minister Fawad Chaudhry, was in accordance with the prime…

Trump’s Aides  to stoke hostility to Afghan refugees in the United States. As tens of thousands of Afghan refugees escaping the Taliban arrive in the United States, a small group of former US President Donald Trump’s staffers is attempting to turn the Republican Party against them. Former officials are penning position papers, speaking on conservative media networks, and meeting secretly with Republican politicians in an attempt to convert Afghanistan’s collapse into yet another chance to advance a harsh immigration agenda. Stephen Miller, the author of Trump’s most hardline immigration policy and one among those involved in the debate, said, “It’s a…

OGRA Suggests Increase the Price of Petroleum   The OGRA submits a report to the Petroleum Division proposing a price increase for petroleum products. The OGRA intends to raise the price of petrol by Rs1 per liter. The price of high-speed diesel should be increased by Rs10.50 a liter, according to the authority. The Oil and Gas Regulatory Authority (OGRA) has suggested that the price of petrol be raised by Rs1 per liter. The authority sent a summary to the Petroleum Division, recommending that the price of petrol be increased by Rs1 per liter starting September 16. It also suggested…

Prime Minister Imran Khan got a phone call from Russian President Vladimir Putin on Tuesday, during which the two leaders reviewed the recent developments in Afghanistan and other issues. Close coordination of Pak-Russia on Afghanistan is critical According to a statement released by the PM Office, the two leaders discussed the recent developments in Afghanistan, bilateral cooperation, and collaboration in the Shanghai Cooperation Organization (SCO) during their previous phone chat on August 25 this year. Peace and stability in Afghanistan are critical for regional security and prosperity, according to the prime minister. PM Imran emphasized the expanding cooperation across a…

Despite the rupee’s historic lows, many believe the State Bank of Pakistan (SBP) will leave its policy rate unchanged next week. The central bank is anticipated to begin monetary tightening by the first quarter of next year, according to a storey published in The News. In July, the SBP’s Monetary Policy Committee (MPC) kept the policy rate at 7% to help the economy recover. On September 20, the MPC will release its monetary policy decision. “In my perspective, SBP would continue to keep policy rate as it needs to counter the negative impact of COVID-19 with lower interest rates,” said…

The Pakistani rupee hit an all-time low against the US dollar on Thursday, only days after Islamabad agreed to a $6 billion bailout with the International Monetary Fund (IMF) to help the country’s faltering economy. According to foreign currency traders, the value of the dollar increased by 6.50 Rupees (Rs) to a record high of Rs 148 in open and interbank markets. US Dollar Attain  all-time High Versus the Pakistani rupee The most recent devaluation is thought to be the consequence of a major IMF requirement that Pakistan implement a market-determined currency rate free of government intervention. According to Malik Bostan, chairman…

President Alvi Gives the PTI’s Three-Year Report Card in a Joint Session ISLAMABAD: President Dr. Arif Alvi emphasised the PTI-led government’s three-year report card on Monday, despite the Opposition boycotted the session in protest. The president began his statement in the joint session of the parliament by discussing the economy. “Due to the government’s cautious measures, Pakistan’s economy did better than other countries despite the coronavirus.” “You may make all the noise you want, but you have to face the truth – that the nation is moving forward,” the president remarked as the Opposition began thudding benches and causing a…

 Dollar Rate Continues to Gain KARACHI: In the interbank market on Monday, the rupee lost about 0.05 percent versus the US dollar, with currency analysts predicting that the negative trend will continue this week. Dollar Rate continues to gain, while the rupee falls by 0.05 percent. The dollar ended the day at Rs168.10, up from Rs168.02 on Friday, which was the lowest level since August 2020. In May 2021, the rupee reached a 22-month high of Rs152.27, but it has since been on the decline, losing 9.4% of its value. During the coming week, the local currency is projected to fluctuate…