KARACHI: Pakistan’s macroeconomic outlook has improved substantially as a result of a prudent monetary policy, backed adequately by fiscal consolidation and beginning of implementation of key structural reforms, said State Bank of Pakistan (SBP) Governor Jameel Ahmad. The central bank governor met key international investors during multiple events organised by leading global banks and financial […]
KARACHI: The foreign exchange reserves held by the State Bank of Pakistan (SBP) surprisingly remained stable above $8 billion despite repayment of $1 billion foreign debt in the week ended April 12, 2024.More importantly, the reserves rose by $14.4 million during the week, reaching $8.05 billion. Pakistan repaid $1 billion for a maturing Eurobond on […]
WASHINGTON: The International Monetary Fund (IMF), World Bank and current G20 president Brazil said on Wednesday there had been significant progress on global debt issues in recent months, citing new agreements on desired timelines and comparability of treatment. IMF Managing Director Kristalina Georgieva, World Bank President Ajay Banga and Brazilian Finance Minister Fernando Haddad issued […]
LAHORE: The Pakistani economy is projected to grow at a rate of 2.3% in FY 2024. The combination of this low growth and high inflation will significantly increase poverty this year and in the coming years. Approximately 10% of taxes would need to be spent on transfers to lower-income households to eliminate this poverty. This […]
KARACHI: Pakistan Stock Exchange (PSX) on Thursday closed with marginal losses as dispirited investors continued to book profits at higher valuations. In the morning, trading commenced on a positive note as the KSE-100 index touched the intra-day high of 70,645.29 points in the initial hours but soon it stumbled over concerns about the poor economic […]
LAHORE: Textile exports from Pakistan have again slipped into the negative territory as March 2024 figurers showed a month-on-month (MoM) decline of 7.67%, marking the second consecutive month when global sales of the major sector of the economy slowed down. Textile exports came in at $1.299 billion in March against shipments valuing at $1.407 billion […]
ISLAMABAD: Federal Minister for Information and Broadcasting Attaullah Tarar on Thursday stressed enhanced collaboration between the public and private sectors to accelerate the country’s economic development. Speaking at the First Pakistan Semiconductor Summit, he highlighted the establishment of the Special Investment Facilitation Council (SIFC) to attract investment and ensure ‘ease of doing business’. The minister […]
LAHORE: State Minister for Information Technology and Telecommunications, Shaza Fatima Khawaja, affirmed the government’s commitment to promoting investments in information and communication technologies (ICTs) through various flagship projects such as Special Technology Zones (STZs), the national fiberisation plan, and initiatives to ensure affordable access to fast broadband internet and smart digital devices for the masses. […]
KARACHI: Operating as Online Marketplaces (OMPs), transportation service providers with technology companies, have demanded that the government ensure proper regulations for the emerging ride-hailing industry. They advocate for standard practices, reasonable taxation, and fair competition, alongside revamping broken road infrastructure. These measures would benefit both customers or users and service providers. The ride-hailing services industry […]
ISLAMABAD: Federal Minister for Energy Sardar Awais Leghari said on Thursday that the country would face Rs560 billion in losses in the power sector by the end of June this year. He mentioned that Rs200 billion are billed in the power sector but remain unrecovered from consumers, while another Rs300 billion are lost due to […]
