The Trading Corporation of Pakistan (TCP) has started importing sugar to ease price pressures, purchasing 30,000 tonnes in an international tender aimed at securing a total of 200,000 tonnes. European traders reported on Tuesday that this first shipment was likely bought from Al Khaleej Sugar at an estimated $582.50 per tonne, including cost and freight….
Pakistan continues to suffer heavy economic losses every year from floods, earthquakes, and other natural disasters, with damages running into billions of rupees. Despite this recurring threat, most public development projects in the country remain without insurance coverage. International financial institutions, including the International Monetary Fund (IMF) and the Asian Development Bank (ADB), have advised…
Gold prices in Pakistan touched another peak on Monday, following gains in the international market. According to dealers, the rate for 24-karat gold stood at Rs359,800 per tola across all major cities including Karachi, Lahore, Islamabad, Peshawar, and Quetta. The price for 10 grams also rose, increasing by Rs3,515 to settle at Rs308,470. Market data…
The foreign exchange market in Pakistan began the week with mixed movement as traders observed fluctuations in major global currencies. According to the latest rates, the US dollar was trading at Rs283.60 for buying and Rs284.10 for selling. The euro was recorded at Rs327.75 (buying) and Rs329.20 (selling), while the British pound stood at Rs379.20…
The Pakistani rupee remained largely stable against the US dollar on Thursday, with only minor changes observed in both the interbank and open markets. According to currency dealers, the dollar was traded at Rs284.65 in the open market for buying and Rs285.25 for selling. In the interbank market, it stood at Rs282.15. The rates indicated…
Former caretaker federal minister and Chairman of the Economic Policy & Business Development (EPBD) think tank, Gohar Ejaz, has issued a strong call for the State Bank of Pakistan (SBP) to realign its monetary policy with ground realities, warning that the current interest rate regime is strangling the economy and burdening taxpayers. Ejaz emphasized that…
The price of gold in Pakistan fell sharply on Wednesday, reflecting a downward trend in both local and international markets. According to the All Pakistan Sarafa Gems and Jewellers Association, the cost of 24-karat gold declined by Rs. 1,400 per tola, settling at Rs. 355,200 compared with Rs. 356,600 a day earlier. Similarly, the rate…
The Pakistan Stock Exchange (PSX) continued its upward momentum on Tuesday, with the benchmark KSE-100 Index climbing beyond the 149,000 mark in early trading. At around 10:10am, the index was recorded at 149,162.07 points, showing a gain of 965.65 points or 0.65% from the previous session. Investors showed strong confidence in sectors such as automobile…
Fitch Ratings has forecast that economy of Pakistan will strengthen gradually, with real GDP growth expected to rise from 2.5% in 2024 to 3.5% by 2027. The agency linked the improvement to easing inflation, lower interest rates, and steady progress on fiscal reforms. Inflation has sharply declined from a peak of 38% in May 2023…
Gold prices in Pakistan have bounced back sharply after a week of consistent decline, with a notable rise recorded on Sunday. According to the All Pakistan Gems and Jewelers Association, the price of gold per tola increased by Rs 1,500, reaching Rs 357,700. Meanwhile, the price of 10 grams climbed by Rs 1,286, pushing it…
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