News Plus Pakistan

The fund will focus on investing in equipment for chip manufacturing.

China to Launch $40 Billion Chip Fund to Achieve Self-Sufficiency

China is set to launch a new $40 billion state-backed investment fund to boost its semiconductor sector, as the country ramps up efforts to catch up...

Sindh sales tax collection jumps 36%, but challenges remain

Business2 years ago

Sindh sales tax collection jumps 36%, but challenges remain

The Sindh Revenue Board (SRB) collected Rs16.02 billion in sales tax in August 2023, a 36% increase from the same month last year. This is the...

Foreign banks' commission demands compound Pakistan's economic woes

Business2 years ago

Foreign banks’ commission demands compound Pakistan’s economic woes

Foreign banks are now demanding a 10% commission to endorse letters of credit (LCs) for importable consignments in Pakistan, compounding the country's economic woes.

Understanding the Implications: Behind the Closure of 1,600 Textile Units in Pakistan.

Business2 years ago

Understanding the Implications: Behind the Closure of 1,600 Textile Units in Pakistan

With over 1,600 textile factories ceasing operations in just over a year, Pakistan grapples with industry-wide challenges. As the government unveils strategies for recovery, we dive...

Behind the Numbers: How the Fluctuating Rupee Reflects Pakistan's Economic Landscape

Business2 years ago

Understanding the Volatility: What Do Recent Foreign Exchange Rates Say About Pakistan’s Economy?

As the Pakistani Rupee experiences fluctuations against major currencies like the USD, CAD, and GBP, experts weigh in on what these rates reveal about the country's...

PML-N's Dar says party paid heavy political price to prevent Pakistan from defaulting

Business2 years ago

PML-N’s Dar says party paid heavy political price to prevent Pakistan from defaulting

Dar, who is in London made the remarks after meeting with PML-N supremo Nawaz Sharif.

The Pakistani rupee hit an all-time low of 326 against the US dollar in the open market on Thursday, as concerns mounted over the country's economic outlook. The rupee has been under pressure in recent weeks, due to a number of factors, including the widening current account deficit, rising inflation, and political uncertainty. The caretaker government, which is in charge of the country until the general elections in October, has taken a number of measures to try to stabilize the currency, including increasing interest rates and imposing import restrictions. However, these measures have so far failed to stem the depreciation of the rupee. Analysts say that the rupee is likely to remain under pressure in the coming months, as the country faces a number of economic challenges. Here are some of the factors that are contributing to the depreciation of the Pakistani rupee: Widening current account deficit: The current account deficit is the difference between the country's imports and exports. A widening current account deficit means that the country is importing more goods and services than it is exporting. This puts pressure on the rupee, as it makes it more expensive to import goods and services. Rising inflation: Inflation is the rate at which prices are rising. A rising inflation rate means that people have to pay more for goods and services, which can also put pressure on the rupee. Political uncertainty: Political uncertainty can also make investors nervous about investing in a country, which can lead to a depreciation of the currency. The depreciation of the rupee has a number of negative consequences for the Pakistani economy: It makes it more expensive to import goods and services, which can lead to higher inflation. It makes it more difficult for businesses to compete in international markets. It can lead to capital flight, as investors move their money out of the country. It can make it more difficult for the government to repay its debts. The caretaker government is facing a difficult task in trying to stabilize the Pakistani rupee. However, it is important to take steps to address the underlying causes of the depreciation, such as the widening current account deficit and rising inflation. Here are some of the measures that the government can take to stabilize the rupee: Reduce imports: The government can reduce imports by imposing tariffs or quotas on goods that are not essential. Increase exports: The government can increase exports by providing subsidies or tax breaks to exporters. Attract foreign investment: The government can attract foreign investment by improving the business climate and making it easier for foreign companies to invest in Pakistan. Reduce inflation: The government can reduce inflation by raising interest rates or by cutting government spending. The government will need to take a combination of these measures to stabilize the rupee and improve the country's economic outlook.

Business2 years ago

Rupee hits all-time low against dollar, concerns mount over economy

1USD Conversion to PKR = 332.65

Politics2 years ago

“Granted Bail but Still Behind Bars: Imran Khan Faces Extended Imprisonment”

Imran Khan's Legal Quagmire: Granted Bail Yet Remains Detained in High-Security Prison