KARACHI: The State Bank of Pakistan (SBP) has announced its monetary policy for the next two months.

According to the details, the central bank has announced to keep the interest rate at 7% for the next two months. No change has been made in the discount rate.

According to a statement issued by the SBP, the recovery of the economy is gaining momentum and business sentiments have improved further, while the second wave of Corona poses significant risks of slowing down Pakistan’s economic growth.

According to the SBP, inflation is a result of food supply pressures which are temporary. Inflation is likely to remain at 7-9 per cent this financial year. Inflation and the risks to the economic growth scenario seem balanced.

It is to be noted that at present the policy rate in the country is at 7%. Earlier in the meeting held in September, the central bank had maintained the discount rate at 7%.

Earlier, SBP Governor Raza Baqir said that the situation is much better now than in June. For these reasons, it has been decided to keep the interest rate stable. The economic situation of the country has improved. Announced a monetary policy for which the interest rate will remain at 7%.

According to ARY News, the central bank has announced to keep the interest rate at 7% for the next two months. No change has been made in the discount rate.

According to a statement issued by the SBP, the recovery of the economy is gaining momentum and business sentiments have improved further, while the second wave of Corona poses significant risks of slowing down Pakistan’s economic growth.

According to the SBP, inflation is a result of food supply pressures which are temporary. Inflation is likely to remain at 7-9% this financial year, and the risks to inflation and the economic growth scenario seem balanced.

It is to be noted that at present the policy rate in the country is at 7%. Earlier in the meeting held in September, the central bank had maintained the discount rate at 7%.

Earlier, SBP Governor Raza Baqir had said that the situation was much better now than in June and for these reasons it had decided to keep interest rates stable.
Inflation has risen slightly, but it is an administrative issue. Various measures have been taken, including the Ehsas program, to prevent the effects of the Corona epidemic.

He said that the reduction in interest rates has given relief to the business community to the tune of Rs. 470 billion.

Inflation has risen slightly, but it is an administrative issue. Various measures have been taken, including the Ehsas program, to prevent the effects of the Corona epidemic.

He said that the reduction in interest rates has given relief to the business community to the tune of Rs. 470 billion.

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Karachi: Great success for the government of Pakistan on the economic front.

According to details, Federal Minister for Maritime Affairs Ali Zaidi said in a statement on social networking site Twitter that the major achievement of Imran Khan’s government was a 28-point improvement in Pakistan’s Border Trading Index and Pakistan rose from 136 to 108 in the 2020 list. The economy is moving in the right direction.

It may be recalled that the World Bank released its annual report on Ease of Doing Business in which the implementation of various measures under the Trading Facility Agreement resulted in a 28-point improvement in Pakistan’s trading cross-border index.

According to the annual report on Ease of Doing Business, Pakistan’s ranking improved from 136 to 108. In November 2020, Pakistan’s World Trade Organization’s TFA implementation rate reached ninety-nine percent. Which was only thirty-four percent in June two thousand and eighteen.

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Last week, 18 essential items became more expensive and 11 became cheaper

Inflation, as measured by the Wholesale Price Index (WPI), has come down to 0.07 per cent during the last week, followed by a modest decline to 7.68 per cent.
According to a weekly report on inflation released by the Bureau of Statistics, the price of sugar rose by an average of 57 paise in just one week, after which the average price of sugar rose from Rs 101.49 to Rs 102.06 per kg. While potatoes, bananas and beef have also become more expensive. In a week, dal mash, curd, eggs and ghee have also become more expensive.

According to the statistics agency, prices of 11 items have declined in the last one week. Among the items whose prices have come down, a 20 kg bag of flour has become cheaper by Rs4.69 while tomato prices have also gone down by Rs4.

According to the report, lentils, garlic, onions, lentils and goat meat have become cheaper in the country in the last one week. According to the data, prices of about 22 items have stabilized in the last week.

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Karachi: Overseas Pakistanis increase remittances by more thanTwo billion for fifth consecutive month

According to details, despite Corona, the country’s economic indicators continue to improve. A statement issued by the State Bank of Pakistan said that for the fifth consecutive month, Pakistanis abroad sent more than Rs 2 billion in remittances.
The SBP says remittances reached two billion in October, up 14 percent from October last year.
In the first four months of the current financial year, the total remittances increased by 26.5% to billion. The highest remittances were received from Pakistanis living in Saudi Arabia.
According to the SBP, 30 percent of remittances were sent to Pakistan from Saudi Arabia, 16 percent from the United States and 14 percent from London.
Last month, remittances as a whole rose to a record 7. 7.1 billion, up 31.1 percent from the same period last year.
It may be recalled that according to the report of the State Bank of Pakistan, the highest remittances received in the history of the country in July was dollar billion.
The SBP said remittances in July 2020 increased by 36.5 per cent over the previous year. This is the highest level of remittances coming to Pakistan in a single month.

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Dollar and stock exchange weekly report released

KARACHI: The dollar fell by Rs 1.16 on the Interbank Foreign Exchange (IFEX) in a week while the 100 Index gained 843 points in a week.
The Pakistan Stock Exchange (PSE) has released a weekly report on market fluctuations, according to which the 100 Index gained 843 points in one week and the 100 Index closed at 40731 at the end of the business week. 84 billion shares were traded while the weekly turnover of the market stood at Rs. 62 billion and the market capitalization increased by Rs. 137 billion to Rs. 7536 billion.

On the other hand, the weekly report of the dollar was also released. In a week, the dollar fell by Rs 1.16 at the interbank market and in a week, the dollar at the interbank market fell from 160.25 to close at Rs 159.09. Came to the lowest level of the month.
In a week, the dollar fell by 90 paise in the open market and in the open market, the dollar fell from 160.20 to 159.30 rupees.

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ISLAMABAD: Prime Minister Imran Khan has announced a package for the industrial sector

According to details, Prime Minister Imran Khan while commenting on the energy sector said that we have come up with a package for the industrialists. Unfortunately, the electricity supplied to our industries is 25% more expensive than in India.
In the past, agreements were made to generate expensive electricity.
Imran Khan said that we tried to increase exports as soon as we arrived. The more exports increase in the country, the stronger the rupee will be.
In the Corona situation, Pakistan’s exports to the subcontinent grew the fastest.
Announcing the industrial package, PM Imran Khan said that full-time off-peak hours would be considered for small scale industries. Will be given
He said that this package is expected to further increase exports. In the Corona situation, the increase in domestic exports is welcome.
On the other hand, Federal Minister for Industries and Production Hamad Azhar while talking said that electricity will be provided 24 hours off pack hours. Industries have been shut down in the past due to the high cost of electricity.

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ISLAMABAD: Details of loans taken from international financial institutions have been tabled in the Senate.

According to details, the finance ministry told the Senate that 4 4.111 billion had been borrowed from the World Bank for 21 institutions, and 66 3.66 billion from the Asian Development Bank.

A 68 680 million loan was taken from the Islamic Development Bank, while a 80 800 million loan was taken from the Asian Infrastructure Investment Development Bank.

According to the Ministry of Finance, the government signed 21 agreements with the World Bank, 22 agreements with the Asian Development Bank, and 58 agreements with international financial institutions to reform public institutions.

According to the Ministry of Finance, the interest rate on the loan taken from the IMF is 4.05. The repayment process will start from 2024 and will continue till 2032.

Privatization list

The list of 19 entities included in the privatization list was also tabled in the Senate. PIA’s Rose Welt Hotel New York is also included in the privatization list. Block Power Plant, Haveli Bahadur Shah Plant, SME Bank are also included in the list. Include

Privatization list includes First Women Bank, Pakistan Steel, Pakistan Engineering Company, Services International Hotel, Jinnah Convention Center, Mari Petroleum, Nandipur Power Plant, State Life Insurance Corporation, OGDCL, Pakistan Petroleum Limited, and Guddu Power Plant. Also included.

Rising drug prices

A notice was also tabled in the Senate to draw attention to the increase in the prices of medicines. Senator Mushtaq Ahmed said that the government had twice increased the prices of medicines, which affected every household. After adding 500 per cent, he said that it was because of this. In order to ensure the availability of medicines, the government knelt before the pharma mafia.

Senator Mushtaq said that the heads of 45 pharma companies are PTI officials, is that correct? Drape is currently sponsoring the pharma mafia. We demand that the prices of medicines be brought to the level of June 2018. The NAB does not see the corruption of the pharma mafia.

Corona damages the country’s economy

During Question Hour in the Senate session, the Ministry of Finance presented the details of the losses incurred by the Corona to the national economy, in which it was said that due to Corona, the GDP growth rate fell by 2% and the FBR received Rs. Deficit, GDP fell from 2.4% to minus 0.4%, budget deficit also increased by 1%, budget deficit stood at 8.1% instead of 7.5%, Pakistani exports The target was also reduced.

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The path to foreign investment in Pakistan began to pave

ISLAMABAD: A Turkish delegation will arrive in Pakistan today for investment. The CAA has given permission for a Turkish plane to land in Islamabad.

According to details, the way for foreign investment in Pakistan has started to be paved. The Turkish delegation will arrive in Pakistan today for investment.

Civil Aviation allowed the Turkish plane to land in Islamabad and issued a notification regarding the plane. The Turkish plane was allowed at the request of the Ministry of Overseas.

During the visit, the Turkish delegation will meet top government officials, including the Prime Minister.

Remember that the Turkish delegation is visiting at the invitation of the Ministry of Overseas Pakistanis.

It may be recalled that in February this year, Turkish President Recep Tayyip Erdogan, while announcing to increase the trade volume from Pakistan to ارب 5 billion, had said that he was ready to help Pakistan in any way possible. Turkish investors are interested in investing in Pakistan’s infrastructure sector.

Later, Federal Minister Ali Zaidi invited Turkish companies to invest in export processing zones in Karachi and Gwadar and offered to deploy Pakistani seafarers on Turkish ships.

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Strong prospects for removing Pakistan from the FATF gray list and adding it to the white list.

ISLAMABAD: The FATF’s plenary session has strong prospects of removing Pakistan from the gray list and adding it to the white list due to its legislation and full commitment on money laundering and terror financing.

According to the details, the FATF’s plenary meeting will be held in Paris from October 21 to 23. The three-day meeting of the FATF will decide whether to keep Pakistan on the gray list or add it to the white list. In other words, Pakistan should be declared a country where money laundering and terrorism are not financed, otherwise, like Iran and North Korea, Pakistan can be blacklisted and severe economic sanctions can be imposed on Pakistan.

Due to Pakistan’s legislation and commitment to money laundering and terror financing, there is a strong possibility of removing Pakistan from the gray list and adding it to the white list.
Sources said that all fears of being blacklisted on Pakistan could be allayed, Pakistan gave detailed answers to 150 questions of ICRG, Pakistan has made great progress on 21 out of 27 targets and NICTA, SBP, SE CP, FMU met all the targets.
It may be recalled that in June 2018, the FATF added Pakistan to its gray list and Pakistan was given time till October 2 to take necessary steps in this regard, which was later extended for another four months.

Pakistan promised to develop the necessary legislation and an effective system for its implementation within the given time frame. In February 2020, the FATF acknowledged that Pakistan had complied with the 27 demands made by the Task Force. However, due to lack of progress in other areas, the FATF expressed concern and kept Pakistan on the gray list.

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Inflation in the country has reached its highest level this year

ISLAMABAD: Inflation in the country has reached its highest level this year and the inflation rate has reached 11.24 percent. In one week, tomatoes, onions, potatoes, eggs, chicken, flour and sugar became more expensive.

According to the details, the basic necessities of the country have become out of reach of the people and the prices of vegetables, flour, sugar and eggs have skyrocketed.

The Federal Bureau of Statistics (FBS) has released the latest data on inflation, which rose to 1.24 per cent in the first week of this month, after which the country’s inflation rate reached a record high of 11.2 per cent this financial year.
The Federal Bureau of Statistics says prices of 24 essential commodities have risen in recent weeks, with only four declining while 23 remained stable.

According to the statistics, a 20 kg bag of flour became more expensive by Rs. 162, tomatoes by Rs. 79, eggs by Rs.

On the other hand, garlic became cheaper by Rs 25, onion by Rs 1 and LPG by Rs 199.

It may be recalled that in September this year, the inflation rate had reached 9.04 per cent and an increase of 1.54 per cent was recorded. Inflation stood at 8.85 percent.

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