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| Top Economic News: Rising dollar |
Top Economic News: Rising dollar
The dollar rose 20 paise to Rs 166.40. According to the data released by the Forex Association, the dollar rose on Saturday.
Prime Minister Imran Khan on Friday inaugurated Roshan Apna Ghar Scheme for Pakistanis abroad. Speaking on the occasion, he said that Pakistan needs to find ways to meet the dollar deficit due to high imports and low exports, which could increase the trend of investment in Pakistan from abroad.
In July this year, Pakistan's exports increased by 16.94 percent and the same month, exports amounted to ارب 2.34 billion. According to the report, textile exports increased by 15.61 per cent, rice by 7.39 per cent and fruit by 15.46 per cent.
Airline Communications Limited, a mobile phone distributor in Pakistan, is gearing up for the largest initial public offering (IPO) of Pakistan's private sector to date. The company will sell 90 million shares at a base price of Rs 65 per share, bringing the total value of the company to Rs 5.85 billion.
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