ISLAMABAD - Finance Minister Ishaq Dar is presenting the Economic Survey for the year 2022-23 at a press conference.
While presenting the performance of the PDM-led government, he said Pakistan’s Gross Domestic Product (GDP) growth target stood at 0.29 percent for the outgoing fiscal year, missing the target of 5%. He mainly blamed the four-year rule of the PTI for denting the national economy, besides pinning blame on disastrous flood and inflation.
This trivial growth came on the back of 1.55%, -2.94%, and 0.86% growth in the Agriculture, Industry, and Services sectors respectively. Massive contraction was witnessed in the industrial sector as its growth was recorded as2.94% against a target of 7.1%.
Pakistan recorded inflation of 29.2% in the 11-month period from July 2022 to May 2023 as compared to 11.3% in the same period last year.
The government had targeted to keep the inflation at 11.5% in FY2023, but it missed the target significantly due massive rupee devaluation, import restrictions and disruption in supply chain.
However, the Federal Board of Revenue (FBR) registered growth in tax collection as it collected Rs6,210bn from July to May, compared to Rs5,348.2bn in the same period last year, over 16% above than the target.
More to follow...
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 September 30, 2023 (Saturday).
Source: Forex Association of Pakistan. (last update 09:00 AM)
|UK Pound Sterling||GBP||353.3||357|
|Hong Kong Dollar||HKD||37.93||38.28|
|New Zealand Dollar||NZD||174.58||176.58|
KARACHI - The price of a single tola of 24-karat gold in Pakistan is Rs 202,800 on Sunday.
The price of 10 grams of 24k gold was recorded at Rs 173,870.
Likewise, 10 grams of 22k gold were being traded for Rs168,730 while a single tola of 22-karat gold was being sold at Rs196,807.
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 202,800||PKR 2,420|
|Karachi||PKR 202,800||PKR 2,420|
|Islamabad||PKR 202,800||PKR 2,420|
|Peshawar||PKR 202,800||PKR 2,420|
|Quetta||PKR 202,800||PKR 2,420|
|Sialkot||PKR 202,800||PKR 2,420|
|Attock||PKR 202,800||PKR 2,420|
|Gujranwala||PKR 202,800||PKR 2,420|
|Jehlum||PKR 202,800||PKR 2,420|
|Multan||PKR 202,800||PKR 2,420|
|Bahawalpur||PKR 202,800||PKR 2,420|
|Gujrat||PKR 202,800||PKR 2,420|
|Nawabshah||PKR 202,800||PKR 2,420|
|Chakwal||PKR 202,800||PKR 2,420|
|Hyderabad||PKR 202,800||PKR 2,420|
|Nowshehra||PKR 202,800||PKR 2,420|
|Sargodha||PKR 202,800||PKR 2,420|
|Faisalabad||PKR 202,800||PKR 2,420|
|Mirpur||PKR 202,800||PKR 2,420|