KARACHI: The government on Wednesday raised Rs527 billion through the auction of market treasury bills, while the yields remained unchanged on shortest and longer tenor papers.The raised amount was.
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Industries default on debt payments
Default cases surged in 1QCY21 despite schemes to get loans deferred and rescheduled
The NPLs to gross total loans had surged to 9.7% in January-June 2020 compared to 8.8% in the same half last year, according to the performance review. PHOTO: FILE
KARACHI:
Contrary to the government claim of rebound in industrial output, a number of industries in sectors including leading automobile and sugar have defaulted on paying off debt owed to banks in the quarter ended March 31, 2021.
The default cases have surged in the quarter despite offer of scheme to banks’ clients to get their loans deferred and rescheduled for one year or for more time period to cope with the Covid-19 pandemic.
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Rupee shoots to 23-month high
Closes at Rs152.6 against dollar as remittances rise in Ramazan
KARACHI:
Pakistani rupee maintained its uptrend for the seventh successive working day and hit a 23-month high of Rs152.6 against the US dollar in the inter-bank market on Thursday following an increase in supply of foreign currencies compared to demand in the domestic market.
With fresh appreciation of Rs0.44, the rupee has cumulatively gained Rs1.9 (or 1.23%) in the past seven working days and closed at Rs152.6 against the US dollar. Such a closing level was last seen in June 2019, according to the State Bank of Pakistan’s (SBP) data.