Tag: fiscal year
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Pakistan’s forex reserves decline by $63.3 million to $9.09 billion
The State Bank of Pakistan (SBP) has reported a marginal decline in the nation’s foreign exchange reserves, indicating a decrease of $63.3 million or 0.69 per cent week on week (WoW) to $9.09 billion, according to data released on Thursday.
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SBP sees surge of over $17 million in forex reserves
The latest data released by the State Bank of Pakistan (SBP) revealed a notable rise in the country’s foreign exchange reserves. During the week ending March 8, 2024, SBP’s reserves increased by $17.2 million, marking a 0.22 per cent growth, reaching a total of $7.91 billion.
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State Bank of Pakistan’s reserves soar to $8.27 billion, highest level since July 2023
In the latest report, the State Bank of Pakistan (SBP) announced a significant rise of $243.1 million, or 3.03 per cent week-on-week, in foreign exchange reserves, reaching $8.27 billion as of January 19, 2024.
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Govt reduces petrol price by Rs8 to Rs259.34 per litre for next fortnight
In a significant move, the caretaker government announced a substantial reduction in the price of petrol by Rs8 per litre for the upcoming fortnight, effective January 16.
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Gold price in Pakistan surpasses Rs217,000 per tola
In Monday’s trading session, the price of 24-karat gold witnessed a surge, with a per-tola increase of Rs 400, reaching Rs217,200.
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FBR exceeds revenue target by Rs63 billion for first three months of current fiscal year
In the initial quarter of the ongoing fiscal year, the Federal Board of Revenue (FBR) successfully amassed a total of Rs2,041 billion, significantly surpassing the stipulated target of Rs1,978 billion by an impressive margin of Rs63 billion.
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Rice exports from Pakistan decline by 17.33% in first two months of current fiscal year
During the initial two months of the current fiscal year, a total of 340,237 metric tonnes of rice, with a market value of $233.991 million, were exported. This marked a notable contrast with the previous year’s corresponding period, which recorded exports of 507,144 metric tonnes of rice valued at $283.056 million.
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Pakistan aiming for $25 billion textile exports in this fiscal year
Dr Gohar Ejaz, the Caretaker Federal Minister for Commerce, Industries, and Production, has set a bigger target of achieving $25 billion in textile exports for the current fiscal year, a substantial increase from the $16 billion target of the previous year.
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Pak Suzuki’s fiscal year ends with Rs9.68 billion loss: Operational disruptions and low demand
Pak Suzuki Motor Company Limited ({PSMCL) has reported a substantial net loss of Rs9.68 billion for the fiscal year that ended on June 30, 2023. The loss was attributed to import restrictions and weakened demand, causing a significant increase compared to last year’s Rs17.238 million loss.
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Govt collects Rs75 billion from consumers in one month through petroleum levy
The Pakistani government collected a significant sum of Rs75 billion in revenue from the petroleum levy (PL) in July 2023. This levy is a crucial income source because it’s not part of the divisible pool. The increase in the petrol levy to Rs55 per litre has driven this boost in revenue.