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FBR to allow traders 40-day time to switch to digital mode of payments

FBR to allow traders 40-day time to switch to digital mode of payments

The government has again allowed using banking cheques for payments of over Rs250,000 - local media reported Sunday night. The government had disbanded the use of cheques just two days ago. This underscores its lack

Pakistan to trade with Afghanistan in rupees

Pakistan to trade with Afghanistan in rupees

Pakistan, on Thursday,  announced its financial plans for Afghanistan and has chosen to go forth with bilateral trade with the Taliban in Pakistan’s own currency - the rupee. This step is being regarded as Pakistan’s

Rupee loses more ground against US dollar

Rupee loses more ground against US dollar

The Pakistani rupee stooped to a new one-year low against the US dollar - Rs166.87 - in the interbank market on Wednesday. The demand for foreign currency remained high compared to its supply in the

A 12-year-old Pakistani kid earns £300,000 during school holidays

A 12-year-old Pakistani kid earns £300,000 during school holidays

Benyamin Ahmed - a 12-year-old British Pakistani boy - has made a whopping £300,000 during school holidays. How has he achieved this remarkable feat? Well, he has done so after creating digital pictures of Weird

Strong demand from importers: Dollar surges to Rs166.3

Strong demand from importers: Dollar surges to Rs166.3

The US dollar appreciated against the Pakistani rupee for a third consecutive day as the State Bank, on Wednesday, reported the closing rate of the US dollar as Rs166.28. This is an all-time high, previously

Time to remit: Rupee hits its 10-month low

Time to remit: Rupee hits its 10-month low

Pakistan’s currency stooped to an 11-month low against the US dollar in the interbank market and recorded Rs165.20. This development comes despite the receipt of a notable amount of funds, on Tuesday, from the International

Pakistan’s current account posts $773m deficit in July: SBP

Pakistan’s current account posts $773m deficit in July: SBP

Pakistan, in July, posted a current account deficit of $773 million compared to the surplus of $583 million in the corresponding month of the previous year, State Bank of Pakistan (SBP) data showed on Friday.

Current account deficit to remain between 2-3pc in FY22: SBP

Current account deficit to remain between 2-3pc in FY22: SBP

The State Bank of Pakistan (SBP) has announced to keep the policy rate unchanged at 7 per cent - hoping that the current account deficit will remain in the range of 2 to 3pc in

$1b Eurobonds floated at 8.5% interest rate

$1b Eurobonds floated at 8.5% interest rate

Pakistan, on Tuesday, floated several tenors Eurobonds worth $1 billion at interest rates of up to 8.5%. The bonds have been established to build the country’s foreign exchange reserves. This makes it the first major

$500m loan for Pak budgetary support gets IMF’s nod

$500m loan for Pak budgetary support gets IMF’s nod

ISLAMABAD: After two Presidential Ordinances to withdraw corporate income tax exemptions to get Rs70 billion to 140 billion and an addition of a 10 percent power surcharge on consumers, the Executive Board of IMF has