Inflation comparison: Pakistan’s 27.4% vs. world’s highest rates
Even if it is troubling, Pakistan’s inflation rate is not a singular cause for concern
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Money
Crude oil hits 7-month high on worries over supply shortages
Saudi Arabia likely to extend its voluntary 1 million barrel per day oil production cut into October
Power consumers got inflated bills owing to NEPRA, Power Division ‘negligence’
Tariff was supposed to be raised from July 1; both entities delayed raising basic, multi-air tariff; notification issued on July 26
FINANCE
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New tougher IMF loan conditions for Pakistan revealed
The international lender mandates energy sector reforms to reduce electricity costs
SBP dollar reserves surpass $9.5 billion after 26 months
Dollar deposits in commercial banks rises by $2.26 million
IMF says unaware of Pakistan securing commercial financing at 11% interest rate
Spokesperson further notes no such financing necessary to meet current program assurances
Gold prices in Pakistan reach highest ever
Silver prices in local market reach Rs3,050 per tola
Pakistani rupee smashes US dollar after IMF deal
Value of US dollar comes down to Rs277.60 in interbank market
AUTO
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