Tag Archives: Economic Impact

In a growing digital economy like Pakistan’s, reliable internet connectivity is not just a luxury—it’s a necessity. Unfortunately, continuous slow internet speeds have become a significant concern for the country’s IT experts and the Pakistan Freelancers Association (PAFLA). They warn that these disruptions pose a severe threat to Pakistan’s digital economy, impacting a wide array of individuals and businesses. The …

Over the past decade, Pakistan has experienced a significant decline in its crude oil and gas production, according to data from the Pakistan Petroleum Information Service (PPIS). From 2015 to 2024, crude oil production fell from 94,500 barrels per day to 70,500 barrels per day, while gas production decreased by 900 million cubic feet per day (MMCFD). Crude Oil and …

The recent installation of a government-mandated firewall across Pakistan has led to widespread disruptions in internet services, drawing sharp criticism from various sectors reliant on stable internet connectivity. The Pakistan Software Houses Association (P@SHA), along with parliamentarians and affected businesses, has raised concerns over the negative impact on the country’s burgeoning IT industry and freelance community. Freelancers and IT Sector …

Record Increase in Remittances Remittances from overseas Pakistani workers surged by 48% in July 2024 compared to the same month last year, reaching $2.995 billion, according to data from the State Bank of Pakistan (SBP). This marks a significant increase from $2.029 billion in July 2023. Analysts view this jump as a positive indicator for the government amidst ongoing political …

Following a recent decline in global crude oil prices, Pakistan is set to witness a substantial drop in petroleum product prices. Sources indicate that from August 1, the price of petrol may fall by Rs5.50 per litre. High-speed diesel (HSD) could see a reduction of up to Rs11 per litre, while kerosene is anticipated to become cheaper by Rs5.84 per …

Pakistan’s cotton crop, a cornerstone of its agricultural and textile sectors, is facing a dramatic decline in production. After a relatively strong yield of 10.2 million bales in the previous fiscal year, recent reports from the Pakistan Cotton Ginners Association reveal a staggering 48% decrease in production in the first 15 days of FY-25. This sharp decline is raising serious …

  More than 1,600 textile factories in Pakistan have shut down over the last sixteen months, dealing a significant blow to the country’s textile industry, according to Interim Commerce Minister Dr. Gohar Ijaz. The impact of these factory closures extends across the entire value chain of the textile industry, affecting activities from ginning, weaving, spinning, and processing to garment manufacturing. …