All export cargoes could come to a halt as foreign shipping lines are considering stopping their services for Pakistan, after banks reportedly stopped remitting freight charges to them due to the ongoing dollar shortage. Nearly all of the international logistics from Pakistan are catered to by sea, and any disruption will create serious issues for […] The post Pakistan’s Exports Will Suffer If Banks Don’t Clear Freight Charges appeared first on The Friday Times - Naya Daur.
Pakistan’s imports of Russian crude oil are expected to start in late March. Russian energy minister Nikolay Shulginov said that Pakistan would pay for its imports of crude oil in the currencies of friendly nations. Shulginov is in Islamabad for an annual intergovernmental commission on trade and economic relations between Pakistan and Russia. At a […] The post Pakistan To Start Importing Russian Crude Oil In March appeared first on The Friday Times - Naya Daur.
The Exchange Companies Association of Pakistan (ECAP) has advised the government to “fix” the dollar rate in order to reduce volatility in the local currency market, as Pakistan grapples with quickly depleting forex reserves which are compounding severe crises in different sectors of the economy. “It is advised to fix the rupee/dollar exchange rate for […] The post ‘Fix’ Dollar Rate At Rs. 240, Exchange Companies Advise Govt appeared first on The Friday Times - Naya Daur.