KARACHI, (Reuters) – According to the Ministry of Commerce, Pakistan has issued a special order allowing barter commerce with Afghanistan, Iran, and Russia for specific items such as petroleum and natural gas. Pakistan’s government is frantically attempting to handle a balance of payments crisis and keep inflation under control afterRead More →
TOKYO, (Reuters) – Oil prices surged more than 2% on Friday as energy companies reported strong results and U.S. statistics showed oil production dropping while fuel demand increased. Brent futures for June delivery increased $1.17, or 1.5%, to $79.54 a barrel on their last day as the front-month, while theRead More →
The National Parliament approved the Finance (Supplemental) Bill, 2023 on Monday, proposing Rs. 170 billion in new taxes and tariffs, opening the way for the staff-level agreement with the International Monetary Fund (IMF). When the bill’s debate came to a close, Finance Minister Ishaq Dar said that although the governmentRead More →
The All Pakistan Textile Mills Association (APTMA) has warned the government that large layoffs would occur shortly, resulting in severe unemployment for more than 10 million people in Punjab. APTMA has asked the government in a letter to the premier to establish a fair playing field throughout the nation byRead More →
ISLAMABAD (Web desk) – According to figures from the Pakistan Telecommunication Authority (PTI), the telecom industry in Pakistan produced record earnings of Rs 694 billion during the fiscal year 2021–22 as opposed to Rs 651 billion during the same period in 2020–21. The authority claims that the past quarter’s growthRead More →
According to the Pakistan Bureau of Statistics, the Consumer Price Index (CPI), which measures inflation on a year-over-year (YoY) basis, increased to 24.5 percent in December 2022. (PBS). According to the statistics, inflation increased from 0.8% in November 2022 to 0.5% in December 2022 on a month-over-month (MoM) basis. AccordingRead More →
China has reaffirmed its commitment to working with Pakistan to boost overall strategic cooperation and hasten the development of a stronger community with a shared future for the two nations in the new era. At the Awarding Ceremony for Outstanding Pakistani Staff of the CPEC Projects 2022 in Islamabad, China’sRead More →
According to the Federal Bureau of Statistics, the price of a 20 kg flour bag climbed by Rs. 720 in a week.Residents of Islamabad have been struck the hardest by the spike in wheat prices, and are now obliged to buy the most costly flour in the country. A 20Read More →
With the economy under great strain, as seen by depleted foreign reserves, a rising current account deficit, and the currency plunging to a historic low, Pakistan must act quickly to reactivate the International Monetary Fund programme in order to avert a Sri Lanka-style collapse. “In order to re-enter the program,Read More →
ISLAMABAD: Textile and garment exports climbed by 25.96 percent year on year to $15.98 billion in the first ten months of the current fiscal year, owing to a significant depreciation of the rupee and a consistent rise in global demand. On Saturday, the Pakistan Bureau of Statistics (PBS) released dataRead More →
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