Business

prices by Rs5,000-25,000 due to rupee depreciation and costly raw materials. It is observed that assemblers act quickly in raising prices whenever the rupee loses its value against the dollar, however, they hesitate to reduce when the local currency appreciates. According to the announcement made by Atlas Honda Ltd (AHL), the new prices of Honda CD-70, CD-70 Dream, Pridor, CG125, …

WASHINGTON: Pakistan will ultimately reach an agreement with the International Monetary Fund (IMF), but it is difficult to say exactly when, Washington insiders Dawn spoke to said on Thursday. “In a week, two weeks, three weeks, difficult to say with any certainty,” said one highly-placed source when asked to comment on Finance Minister Ishaq Dar’s statement that the government was close to …

WASHINGTON: Pakistan will ultimately reach an agreement with the International Monetary Fund (IMF), but it is difficult to say exactly when, Washington insiders Dawn spoke to said on Thursday. “In a week, two weeks, three weeks, difficult to say with any certainty,” said one highly-placed source when asked to comment on Finance Minister Ishaq Dar’s statement that the government was close to …

ISLAMABAD: With unprecedented policy doses within 24 hours, Pakistan on Thursday completed all the prior actions needed for staff-level agreement (SLA) with the International Monetary Fund (IMF) to avert sovereign default and secure long-delayed $1.2bn disbursement. Sources told Dawn that policy actions stood completed after the exchange rate was allowed to move freely with a massive Rs25 per dollar depreciation in two days, an …

A day after plummeting to an all-time low, the Pakistan rupee on Friday recovered against the US dollar, with analysts attributing it to expectations that the government would reach an agreement with the International Monetary Fund (IMF). The local currency closed at Rs278.46 per dollar in the interbank market, an appreciation of Rs6.63 or 2.38 per cent from yesterday’s close of …

Finance Minister Ishaq Dar is addressing a press conference on the country’s prevailing economic situation. Dar said he was doing the press conference to clear “ambiguity” amid the current scenario. He said the current government had made a “principled decision” whether to save the state or its own politics around the time of last year’s vote of no confidence against …

ISLAMABAD: While concluding a public hearing on K-Electric’s Rs484 billion investment plan for the next seven years, the National Electric Power Regulatory Authority (Nepra) on Wednesday said it would review the performance outcome of its previous similar plan of Rs200bn before allowing it over the next two months. During the hearing presided over by Nepra chairman Tauseef H. Farooqui, some …

The State Bank of Pakistan (SBP) announced on Thursday that it had increased the interest rate by 300 basis points (bps) to 20 per cent, citing rising inflation. The key rate of the State Bank of Pakistan is now at the highest level since October 1996.     “This decision reflects deterioration in inflation outlook & its expectations amid recent …

Finance Minister Ishaq Dar said on Thursday that Pakistan’s negotiations with the International Monetary Fund (IMF) related to the completion of the ninth review of a $7 billion loan programme were near conclusion and the staff-level agreement with the global lender will be signed by next week. The government is in a race against time to implement measures to reach …

ISLAMABAD: Last month, prices rose at the fastest pace ever in the country’s history, according to available data, with food, beverage and transport costs driving inflation to a point where analysts fear “families will have to make choices and sacrifices”. Monthly inflation, measured by a basket of products called the Consumer Price Index (CPI), jumped to 31.6 per cent in …