Business
March 28, 2024

PRGMEA urges independent apparel policy

LAHORE: The Pakistan Readymade Garments Manufacturers and Exporters Association (PRGMEA) is pressing for the revision of the Textile Policy, calling on the government to introduce a separate five-year ‘Apparel Policy’, detaching the garment sector from textiles. This call comes in light of the expiration of the GSP Plus status and the forthcoming submission of the […]

Business
March 28, 2024

PSX hits all-time high, crosses 67,200 points

KARACHI: The Pakistan Stock Exchange (PSX) hit an all-time high of 67,246 points before mid-day on Thursday after registering a 1% increase, maintaining its record-breaking spree on the second consecutive working day. The market reached a new high after the UK-based global index provider (FTSE) announced its decision to retain Pakistan in the ‘secondary emerging markets’ […]

Business
March 28, 2024

Freelancers seek govt-association collaboration for IT park success

KARACHI: Praising the approval for Pakistan’s largest Information Technology (IT) park, set to benefit 6,000 freelancers, the Pakistan Freelancers Association (PAFLA) and industry experts call for government collaboration to optimise resources, address IT challenges, and boost e-service exports. In discussions with The Express Tribune, they stress the need for consultation with PAFLA and Pakistan Software […]

Business
March 28, 2024

PIA sell-off, IMF loan send PSX to new high

KARACHI: Pakistan Stock Exchange (PSX) on Wednesday soared to a record high as it crossed the 66,500 milestone over progress in the privatisation process for state-owned Pakistan International Airlines (PIA) and optimism about a new, larger International Monetary Fund (IMF) loan programme. As trading commenced in the morning, the bourse continued its upward march with […]

Business
March 28, 2024

IBC invites Pakistani investors

LAHORE: The International Business Council (IBC) Kyrgyzstan extended aa invitation to Pakistani investors to establish a pharmaceutical plant and textile unit in Kyrgyzstan’s growing market. IBC Director, Askar Sydykov made this announcement on Wednesday while speaking to a Pakistani trade delegation currently visiting Kyrgyzstan. Read Pakistan seeks investment, not loans Sydykov highlighted that Kyrgyzstan offers a […]

Business
March 28, 2024

PIA Holding Company approves Rs268b debt restructuring

ISLAMABAD: The Pakistan International Airline Holding Company board on Wednesday approved the restructuring of the airline’s Rs268 billion commercial debt, incorporating it into the public debt. The term sheet was finalised by the Ministry of Finance with commercial banks. The government’s decision to merge the airline’s debt into public debt means that taxpayers will bear […]

Business
March 28, 2024

Rupee stabilises at five-month high amid IMF talks

KARACHI: The Pakistani currency closed stable at a five-month high of Rs278.77 against the US dollar in the interbank market, buoyed by an uptick in the supply of foreign currency in the system. This marks the second consecutive working day of positive territory for the currency, observed on Thursday. According to data from the State […]

Business
March 28, 2024

Charting through uncertainty

PUBLISHED March 17, 2024 ISLAMABAD: Prime Minister Shehbaz Sharif has begun his second term in office on a note of defiance. He successfully resisted the pressure and did not appoint family relative and party’s old economic guard Ishaq Dar as the new finance minister. Shehbaz Sharif has drawn the curtain on Ishaq Dar’s over quarter […]

Business
March 28, 2024

SPARC suggests more tax on cigarette

ISLAMABAD: The Society for the Protection of the Rights of the Child (SPARC) warmly welcomed the appointment of the new finance minister and urged him to consider tobacco taxation as a potential avenue for boosting the economy. Aligning with public health initiatives, the SPARC emphasised the importance of increasing taxes on cigarettes to reduce tobacco […]

Business
March 28, 2024

Foreign loans remain low at $9.5b

ISLAMABAD: Pakistan received foreign loans of less than $9.5 billion during the first eight months of the current fiscal year and also faced problems in securing fresh loans from its two largest multilateral lenders. Overall disbursements from foreign creditors slowed down during the July-February period of the current fiscal year despite Pakistan having the umbrella […]