Business

Flour prices hit all-time high in Pakistan

Published

2 years ago

Farwa

20-kg flour bag being sold at Rs2,400 in Karachi and Quetta.
In Hyderabad, a 20kg flour bag is being sold at Rs2260.
Price of 20Kg flour bag is up to Rs980 in major cities of Punjab.

Prices of flour have reached an all-time high in the country as a 20-kg flour bag is being sold at Rs2400 in Karachi and Quetta, said the Pakistan Bureau of Statistics (PBS).

According to the data released by the PBS, in Quetta with an increase of Rs480 per 20Kg during the last 15 days, flour is being sold at Rs120/Kg, while in Karachi price per 20/Kg flour bag has risen to Rs260 in the last 15 days.

As per data, in Hyderabad, a 20kg flour bag is being sold at Rs2260, while in Larkana the price of 20Kg flour bag has been set at Rs2100.

Similarly, the price of 20Kg flour bag has reached Rs2,040 in Sukkur and 2,200 in Khuzdar.

PBS stats show that the price of 20Kg flour bag is up to Rs980 in major cities of Punjab, while in Islamabad, the 20 kg flour bag is of the same price.

‘Inflation rate dropped to 0.19%’

A day earlier, The Pakistan Bureau of Statistics (PBS), however, reported that the SPI-based inflation rate dropped to 0.19% during the week ended September 15 compared to last week.

Data released by the Pakistan Bureau of Statistics (PBS) showed that the average prices of 10 essential items, onions, tomatoes, bananas and other items declined during the outgoing week.

Prices of 30 items, including tea, eggs have rose. Meanwhile, the rates for 11 essential goods remained unchanged.

The combined income group index went down from 225.67 points during the week that ended on September 8 to 224.98 points in the week under review.

On weekly basis prices of following essential items rose:

Food items:

Tea Lipton 190 gram — 6.30%
Pulse Moong (washed) — 3.46%
Eggs — 2.54%
Pulse Gram — 2.53%
Eggs — 3.84%
Cooked beef — 2.53%
Wheat flour — 1.96%
Bread — 1.45%

On weekly basis prices of following essential items decreased:

Food items:

Onions — -16.24%
Tomatoes — -9.84%
Bananas — -2.5%
Chicken — -1.88%
Sugar — -0.95%
Vegatable Ghee (1kg) — -0.39%
Potatoes — 0.33%

Non-food items:

LPG — -2.62%

Business

There are US$13,280.5 million in foreign exchange reserves in Pakistan.

Published

9 hours ago

Farwa

According to a representative for the central bank, as of April 19, 2024, the nation’s total liquid foreign reserves were valued at US$ 13,280.5 million. A loss of US$74 million left the State Bank of Pakistan’s foreign reserves at US$7,981.2 million.

Commercial banks have $5,299.3 million in reserves for Pakistan.

In the week that concluded on April 12, the State Bank of Pakistan’s (SBP) foreign exchange reserves increased by $14.4 million to $8.055 billion.

“In a weekly statement, SBP stated that it has repaid US$ 1 billion in principal and interest on Pakistan’s International Bond, which matures this week.”

But at $13.374 billion, the nation’s total reserves decreased by $68 million. In the same way, commercial banks’ reserves dropped to $5.319 billion, a reduction of $82 million.

Business

NIMA seminar to increase Pakistan’s ship recycling industry’s capacity

Published

9 hours ago

Farwa

According to a release, important players from a range of maritime industries attended the conference to discuss issues facing the shipping sector.

It further stated that the symposium cleared the path for the resurgence of a sustainable future in ship recycling.

Participants in the conference included representatives of the Gadani Ship Breaking Labour Union, PSBA, KS&EW, KPT, PMSA, GEMS, and the federal and Balochistani governments.

Furthermore, global perspectives and ideas were offered by international specialists such as Rabia Razzaque from UN-ILO and Professor Raphael Baumler from the World Maritime University.

The seminar emphasized Pakistan’s capacity to emerge as a pioneer in the field of environmentally friendly ship recycling.

In order to protect the environment and the safety of employees, the participants emphasized the importance of following international standards and regulations.

During his speech, Chief Guest Senator Nisar Ahmed Khoro emphasized the importance of the maritime industry’s resurgence and the crucial necessity for coordinated efforts from all parties involved.

A new age of economic prosperity, worker safety, and environmental responsibility for Pakistan’s maritime industry was called for as he urged the stakeholders to work together on a comprehensive SENSREC program.

Vice Admiral Ahmed Saeed (Retd), the president of NIMA, emphasized the significance of environmental stewardship and safety in ship recycling procedures.

Business

Inflows into the Roshan Digital Account surged to $7.660 billion on March 24.

Published

9 hours ago

Farwa

According to the data, remittance inflows for the month of March totaled US$ 182 million, whereas they were US$ 141 million in February and US$ 142 million in January 2024.

Millions of Non-Resident Pakistanis (NRPs), including those who own Non-Resident Pakistan Origin Cards (POCs), can now engage in banking, payment, and investing activities in Pakistan with the help of these accounts, which offer cutting-edge banking solutions.

According to a statement from the State Bank of Pakistan, the number of accounts registered under the program increased by 11,091 from 668,701 accounts in February 2024 to 679,792 accounts in March 2024.

As of March 2024, the central bank reported that foreign nationals of Pakistan have invested US $312 million in Naya Pakistan Certificates, US $528 million in Naya Pakistan Islamic Certificates, and US $31 million in Roshan Equity Investment.

It is important to note that former prime minister Imran Khan introduced the Roshan Digital Account initiative in September 2020 with the goal of giving Pakistanis living abroad access to digital banking services for the first time.