Trade relations between Islamabad and Dhaka are likely to improve due to positive developments on the diplomatic level between both countries. Pakistan’s Prime Minister Muhammad Shehbaz Sharif congratulated his Bangladeshi counterpart Sheikh Hasina Wajid and the Bangladeshi people on completing the Padma Bridge.… Continue
The State Bank of Pakistan (SBP) and four private banks were challenged in the Supreme Court of Pakistan based on the decision of the Federal Shariat Court (FSC) that declared the present interest-based banking system be against the Sharia and directed the government to switch to an interest-free economy.… Continue
Pakistan Stock Exchange (KSE-100 index) has remained one of the past best-performing markets in the region.
However, Pak stocks performed poorly during FY22 amid deep uncertainty to close at 41,541 points, down by 12.28% / 5,815 points YoY, which took the USD-based return to a negative 32.5%.… Continue
Federal Minister of Finance and Revenue Miftah Ismail, while presenting a Rs 9.502 trillion budget for FY23 with a 4.9 percent deficit, stated that the real challenge for the government is to achieve growth without the current account deficit. The coalition government’s first budget in National Assembly passed sans pandemonium as the lone opposition, Pakistan Tehreek-e-Insaf, continued to boycott, and agitate, drawing massive crowds outside, parliament.… Continue
Pakistan’s import bill for the petroleum group increased to US$ 14.8 billion in the first nine months of the current financial year 2022, up by 96.09% on Year on Year basis, indicated Pakistan Federal Bureau of Statistics data recently. The situation is likely to worsen because of increased geopolitical tensions that have forced Europe and the US to increase their reliance on Liquefied Natural Gas, causing LNG spot prices to soar, rising by 30% recently.… Continue
The State Bank of Pakistan (SBP) has reported that the country received Foreign Direct Investment (FDI) amounting to $1.285 billion during July-March of FY22 as against $1.311 billion in the same month of the previous fiscal year (FY21), showing a decline of about 2%.… Continue
Pakistan’s economy mostly encompasses agriculture-based. It is the fourth largest cotton producer, the fifth largest milk producer, eighth-largest rice producer, second-largest pea producer, and fourth-largest sugar-cane grower.
Despite the above, our economy is passing through low waters just because of unchecked turmoil on the political front, lack of consistent economic policies, rampant luxury items import and slow growth in exports.… Continue
During his successful visit to China from Feb 3 to Feb 5, Pakistan’s Prime Minister Imran Khan met with the Chinese leadership, including President Xi Jinping, to discuss cooperation and the second phase of the China-Pakistan Economic Corridor (CPEC). The Prime Minister’s visit took place after nearly two years.… Continue