The Cons-umer Price Index-based inflation of October 2020 increased by 1.70 percent over September 2020, and increased by 8.91 percent over corresponding month of the last year i.e. October 2019 as a result of increase in food items including sugar, pulses, chicken, and wheat flour. According to the data released by the Pakistan Bureau of Statistics (PBS) month-on-month basis, the…
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On Monday, on market close, PKR continued to gain value. It went up against USD in both interbank and open markets. It also gained value against Euro, AED and SR in open market. INTER-BANK MARKET RATES: In the interbank market, on market close, Pakistan Rupee gained 20 paisas for buying and 15 paisas for selling against USD over last Thursday’s…
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ISLAMABAD: The government has decided in principle to announce on Tuesday a major relief package of the electricity tariff for general, small and medium industries to encourage higher power consumption and manufacturing. As part of the Industrial Support Package (ISP), two separate meetings of as many cabinet committees decided to offer incremental power consumption in industrial and SME sector at…
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The climate crisis has become a key issue not just for American voters in this US election — but people across the world. What the next president does or doesn’t do over the next four years will have a profound impact on the whether the world is able to avert the worst effects of climate change, scientists, policy makers and…
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Muhammad Ali Jinnah Road has always had its share of traffic, but lately the main thoroughfare that connects central Karachi to its major port is in a state of near constant gridlock. An elevated street eats up two of the road’s three lanes, but it’s empty — part of an incomplete project to create express lanes for public buses that was supposed to finish…
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Historian and American University professor Allan Lichtman, who has correctly guessed every United States presidential race winner since 1984, including Donald Trump’s surprise victory in 2016, has predicted that Trump will not get another term. Lichtman measures the chances of the winner based on his “13 keys to the White House” scale. The keys factor in the strength of the…
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CPI inflation has been recorded at 8.9 percent for October 2020, against 9.04 percent in September. Although general inflation reduced yet, food inflation is still in double-digit and has increased. Last year, in October 2019, the CPI was at 11.04 percent, the Pakistan Bureau of Statistics (PBS) on Monday reported. Average inflation of July-October 2020 was recorded at 8.86pc compared…
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ISLAMABAD: The government on Thursday approved a fertiliser subsidy of Rs5.4 billion for farmers, two days after a ruckus in the federal cabinet over increasing inflation and the lack of a coordinated response to tackle it. The Economic Coordination Committee (ECC) of the cabinet approved a subsidy of Rs1,000 per 50kg bag of di-ammonium phosphate (DAP) fertiliser, according to a…
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ISLAMABAD: Pakistan has decided to seek rollover of a $3 billion Chinese trade finance facility that it has actually used to repay maturing debt and is not in a financial position to return the money when the facility expires after six months. The State Bank of Pakistan (SBP) has fully tapped the $3 billion or 20 billion Chinese yuan in…
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The ‘Migration and Development Brief’ released on Friday says that the negative impact of the Covid-19-induced global economic slowdown has been somewhat countered by the diversion of remittances from informal to formal channels due to the difficulty of carrying money by hand under travel restrictions as well as the incentives to transfer remittances. Citing example, the report titled ‘Phase-II Covid-19…
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