KARACHI – Pakistan's business confidence score has plunged by 21 percent in six months, according to the Overseas Investors Chamber of Commerce and Industry (OICCI).
The OICCI's Business Confidence Index Survey (Wave-22) shows a comprehensive feedback from frontline business stakeholders in respect of their views on the environment and opportunities impacting their respective business operations.
The feedback covers business environment at regional, national, sectorial and own business entity levels in the last six months as well as the anticipated business and investment environment in the next six months.
Conducted across Pakistan in September and October this year, the Wave-22 survey said the country's overall business confidence score (BCS) dropped to -4 percent from the previous score of 17 percent recorded in Wave-21 held in March-April.
“The substantial decline in the overall Business Confidence to negative 4 percent is regrettable but not surprising considering the highly challenging political and economic situation during the past six months,” OICCI President Ghias Khan said in the survey report.
"Besides very high inflation and increased fuel prices, the significant currency devaluation also dampened the economic activity. The record level of rains during August leading to severe flooding in Sindh and other parts of the country further restricted the business activities."
The Overseas Investors Chamber of Commerce & Industry (OICCI) serves as the national point of reference for foreign investors in Pakistan.
The survey is done face to face, across the country, covering 80 percent of the GDP, with higher weightage given to key business centers in the country, like Karachi, Lahore, Rawalpindi-Islamabad and Faisalabad.
KARACHI - Following are the foreign currency exchange rates for US Dollar, Saudi Riyal, UK Pound Sterling, U.A.E. Dirham, European Euro, and other foreign currencies in Pakistan open market on February 03, 2023 (Friday).
Source: Forex Association of Pakistan. (last update 09:00 AM)
|UK Pound Sterling||GBP||335.5||336.2|
|Hong Kong Dollar||HKD||34.19||34.54|
|New Zealand Dollar||NZD||173.25||175.25|
KARACHI – The price of a single tola of 24-karat gold in Pakistan is Rs 206,200 on Friday. The price of 10 grams of 24k gold was recorded at Rs176,790.
Likewise, 10 grams of 22k gold were being traded for Rs164,500 while a single tola of 22-karat gold was being sold at Rs 179,100.
Note: The gold rate in Pakistan is fluctuating according to the international market so the price is never been fixed. The below rates are provided by local gold markets and Sarafa Markets of different cities.
|Lahore||PKR 206,200||PKR 2,420|
|Karachi||PKR 206,200||PKR 2,420|
|Islamabad||PKR 206,200||PKR 2,420|
|Peshawar||PKR 206,200||PKR 2,420|
|Quetta||PKR 206,200||PKR 2,420|
|Sialkot||PKR 206,200||PKR 2,420|
|Attock||PKR 206,200||PKR 2,420|
|Gujranwala||PKR 206,200||PKR 2,420|
|Jehlum||PKR 206,200||PKR 2,420|
|Multan||PKR 206,200||PKR 2,420|
|Bahawalpur||PKR 206,200||PKR 2,420|
|Gujrat||PKR 206,200||PKR 2,420|
|Nawabshah||PKR 206,200||PKR 2,420|
|Chakwal||PKR 206,200||PKR 2,420|
|Hyderabad||PKR 206,200||PKR 2,420|
|Nowshehra||PKR 206,200||PKR 2,420|
|Sargodha||PKR 206,200||PKR 2,420|
|Faisalabad||PKR 206,200||PKR 2,420|
|Mirpur||PKR 206,200||PKR 2,420|