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Latest News

(02/06/20) Complete lockdown on Saturdays, Sundays

Chaired by Prime Minister Imran Khan, the National Coordination Committee (NCC) Monday allowed the opening of businesses for five days until 7pm by strictly observing the SOPs with no trading on Saturday and Sunday;

(02/06/20) Private sector credit drops 53pc to Rs265bln in July-May

Private sector credit sharply fell 53.3 percent to Rs265 billion in almost 11 months as high interest rates made funds largely unattractive amid downside risks to growth; The SBP data showed that banks lent Rs567 billion to private businesses from July 1, 2019 to May 15, 2020;

(02/06/20) May inflation posts largest drop in 11 months amid coronavirus disruptions

Consumer inflation fell to 11-month low of 8.2 percent in May when oil prices tumbled and the coronavirus lockdown suppressed demand for some goods and services, offsetting seasonal food prices hike in Ramazan; Pakistan Bureau of Statistics (PBS) data showed that consumer inflation was recorded at 8.4 percent in May last year. On monthon-month basis, it increased 0.3 percent in May, compared to a decrease of 0.8 percent in the previous month and an increase of 0.6 percent in May last year;

(02/06/20) Budget 2020-21: IMF to be asked to slash FBR target from Rs5,103bn to Rs4,800bn

While directing preparation of combating corona budget for 2020-21, Prime Minister Imran Khan has assigned Adviser to PM on Finance Dr Abdul Hafeez Shaikh for convincing the IMF for slashing down the FBR’s tax collection target from Rs5,103 billion to Rs4,800 billion for next fiscal year; The non-tax revenue collection target will be jacked up substantially so the additional resources of Rs200 to Rs300 billion will be diverted towards combating COVID-19 pandemic without increasing the envisage

(02/06/20) Rupee settles at 164.08 against dollar

Pakistani currency has maintained a downward trend for the third successive working day and hit a seven-week low at Rs164.08 against the US dollar on Monday as demand for the foreign currency remains on the higher side while supply remains low; With a fresh depreciation of Rs0.98, the local currency has dropped by a cumulative Rs3.16 or around 2% in the last three days (May 28 to June 1) to Rs164.08 against the greenback in the inter-bank market;