Expected cut in interest rate to push dollar value
“We see the local currency at Rs295 to a dollar by December-end and interest rate at 15pc with a key assumption of political stability,” says one expert.
Related
PSX Highlights of the Day
| Company | Price | Change | Change % | Volume |
|---|---|---|---|---|
| GSPMDEF | 3.0800 | 1.0000 | 48.08 ▲ | 33,489 |
| GUSMDEF | 3.4000 | 1.0000 | 41.67 ▲ | 54,773 |
| PASMDEF | 4.0200 | 1.0000 | 33.11 ▲ | 101,548 |
| AATMDEF | 4.0700 | 1.0000 | 32.57 ▲ | 10,004 |
| RUBYDEF | 8.2400 | 0.9500 | 13.03 ▲ | 62,499 |
Source: PSX | Updated May 31, 2024
More fuel outlets coming up despite oil smuggling from Iran
Ministry says an SECP-registered firm has suggested setting up of "mobile units" for fuel distribution.
Pakistan, China sign agreement to facilitate investment in key projects
Economic minister briefs the participants on the government incentives offered to attract foreign investment, especially from China.
Regulator allows Discos to mop up Rs47bn under quarterly tariff adjustment
Consumers will pay Rs1.90 per unit additional charge in June.
S&P downgrades French credit rating in blow to Macron
The American credit assessor justifies its decision to drop France’s long-term sovereign debt rating from “AA” to “AA-”.
NAB probe into Mansehra’s wheat procurement ‘anomalies’ demanded
Mansehra LB head alleges officials manipulated process; separately, 2 granite smugglers held.
Low prices, slow spending could bolster Fed’s faith in inflation outlook
“While American household balance sheets remain solid in our opinion, the margin for discretionary spending has been much thinner,” says economist.
Budget 2024-25: Govt eyes accelerating GDP growth to 3.6pc
Overall federal, provincial development spending to go beyond Rs3.5tr; energy sector gets largest share while social sector funding drops 59pc.
Ministry corrects fuel prices after PM okays ‘old figures’
Petrol rate set at Rs268.36, HSD valued at Rs270.22 per litre for next 15 days; consumers’ joy over ‘relief’ proves short-lived.
Aramco acquires 40pc GO stake
Deal first announced in December 2023.
Highlights
Aurora
Business & Finance
Trying the same old formulas
Budget proposals from various business forums reveal that trading house demands are more prominent in Sindh than in Punjab.
A new squabble but a smart KP budget
KP’s finance team has introduced a few significant reforms to expand its tax and non-tax revenues by rationalising existing rates.
Balancing banking scales
Over the last five years, more than 30pc, or Rs 4.5tr, of all new deposits have been Islamic.
The blazing glory of Pakistan’s basmati exports
Rice exports cross 5m tonnes in 10 months, earning $3.4bn, owing to favourable weather, hybrid seeds, and the Indian export ban.