SBP Identifies Pakistani Banks Behind Surge in US Dollar Rate

The State Bank of Pakistan (SBP) has identified the involvement of eight Pakistani banks in an unprecedented surge in the US dollar rate in Pakistan. These banks, including Habib Bank Limited, Allied Bank Limited, Bank Alfalah Limited, United Bank Limited, MCB Bank Limited, Bank Al Habib Limited, Meezan Bank Limited, National Bank of Pakistan, Askari … Read more

PIA Grounded Due to Fuel Shortage

Pakistan International Airlines (PIA) sources revealed a crisis on Sunday, resulting in the cancellation of 43 international and 29 domestic flights due to a fuel shortage for its aircraft. This situation arose from a dispute over fuel supplies with the Pakistan State Oil (PSO), leading to significant disruptions in air operations. “The situation has become … Read more

Pakistani Rupee Gains Ground Against the US Dollar

The Pakistani rupee hit a historic low of Rs307 in early September. However, stringent measures and a massive crackdown helped stabilize the local currency, leading to one of the longest periods of appreciation in recent history. Earlier this week, the PKR showed signs of recovery against the US dollar after a brief dip on Wednesday. … Read more