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GOVT HIKES PETROL, DIESEL PRICES BY RS35 PER LITRE
Finance Minister Ishaq Dar on Sunday announced that the federal government has decided to raise the prices of petrol and diesel by Rs35 per litre, which will be applicable from 11am today, ARY News reported. In a televised address, Ishaq Dar said that 11 per cent increase was witnessed in the prices of petrol products…
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Pakistan’s rupee plunges as IMF says mission to visit next week
The Pakistani rupee has dived to a historic low against the United States dollar after an exchange cap was lifted as the cash-strapped country seeks to unlock a vital bailout from the IMF. The Washington-based lender has yet to approve the release of the crucial instalment of $1.1bn, originally due to be disbursed in November…
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Responsibility has to be fixed for ‘financial apocalypse’ in Pakistan: analysts
Amid growing fears of an economic meltdown, senior analysts have said that the government needs to fix responsibility for the depletion of Pakistan’s foreign exchange reserves in a matter of months otherwise “course correction” won’t be possible. The US dollar appreciated sharply within the last three days, crushing the rupee in a record-shattering rally…