In a significant development, a delegation from the Saudi Fund for Development (SFD), led by CEO Sultan bin Abdul Rahman Al-Marshad, met with Prime Minister Shahbaz Sharif today to witness the signing of an Oil Import Financing Facility worth $1.2 billion. The Prime Minister warmly welcomed the SFD delegation and expressed appreciation for the strong … Read more
KARACHI: The rupee is likely to remain unstable next week due to high volatile international oil prices and country’s external sector weaknesses. The rupee lost 39 paisas against the dollar during the week (February 28-March 4). The benchmark Brent crude topped $120/barrel during the ongoing week but retreated to $111/barrel on Friday. The reports of … Read more
KARACHI: The monetary policy announcement scheduled for next week may end the volatility in the rupee value. The State Bank of Pakistan (SBP) is scheduled to announce the monetary policy statement on December 14, 2021. The Monetary Policy Committee will take all the current economic indicators into consideration, while making the decision. One of the … Read more
KARACHI: The deterioration in the rupee value continued on Friday, as the dollar hit another high of Rs177.71 in the interbank foreign exchange market, dealers said. The exchange rate witnessed a 10 paisas decline in the rupee value to end at Rs177.71 against the dollar from the last day’s closing of Rs177.61, the previous record … Read more
KARACHI: Pakistan’s foreign exchange reserves have increased $2.652 billion to $25.151 billion by the week ended December 3, 2021, the State Bank of Pakistan (SBP) said. The country’s foreign exchange reserves stood at $22.499 billion by the week ended November 26, 2021. The official reserves of the State Bank of Pakistan (SBP) increased $2.648 billion … Read more
KARACHI: The rupee rebounded on Tuesday and gained 48 paisas against the dollar in the interbank foreign exchange market, dealers said. The exchange rate ended at Rs175.72, compared with Rs176.20 against the dollar on the previous day in the interbank foreign exchange market. The local currency strengthened after the State Bank of Pakistan (SBP) and … Read more
ISLAMABAD: Minister for Information and Broadcasting Chaudhry Fawad Hussain late on Thursday night shared three news with the nation. Fawad, in a tweet, shared that the Petroleum Dealers Association had called off their strike after successful negotiattions with the government. He also shared that Saudi Arabia has announced to operate direct flights from the country. … Read more
KARACHI: Saudi Arabia’s Ambassador to Pakistan Nawaf bin Saeed Al-Malki has inaugurated a project to provide solar energy for 1,240 schools, benefitting more than 135,000 students annually, Saudi official news agency, SPA reported. The project, funded by the Kingdom of Saudi Arabia through the Saudi Fund for Development (SFD), comes within the framework of supporting … Read more
ISLAMABAD: Saudi Fund for Development (SFD) has approved Rs37.4 billion (SR901 million) for Mohmand Hydropower Project, said Ambassador of the Kingdom of Saudi Arabia in Pakistan Nawaf bin Saeed Al-Malkiy in a meeting with the Federal Minister for Economic Affairs Omar Ayub Khan in his office. The Saudi Ambassador apprised the minister about the successful … Read more
