Tag Archives: Economy

Pakistan Government Reduces Fuel Prices for October 2024 On Monday, the federal government of Pakistan announced a reduction in fuel prices that will come into effect starting October 1, 2024. This reduction brings relief to the general public and businesses alike, as fuel prices have a significant impact on transportation and inflation. Petrol Price Cut The price of petrol has …

  Information Minister Murtaza Solangi reaffirmed the caretaker government’s authority to make significant economic decisions and enact reforms during a press conference of key ministers of the interim government at a meeting of the Special Investment Facilitation Council (SIFC). The press conference featured caretaker Finance Minister Shamshad Akhtar, Commerce Minister Gohar Ejaz, and Power Minister Mohammad Ali. Solangi stated that …

Caretaker Prime Minister Anwaar-ul-Haq Kakar expressed optimism on Monday, stating that he expects foreign investment projects worth $25 billion from Middle Eastern countries, including Saudi Arabia, to be realized within a period of two to five years. He made these remarks during an interaction with foreign media representatives in Islamabad. Prime Minister Kakar highlighted the welcoming attitude of the people …

  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. …

Introduction: Rising Oil Prices and Economic Implications Pakistan is on the brink of another economic challenge as it grapples with the impending increase in the price of high-speed diesel. The nation, already contending with inflation at significant levels, is now faced with the prospect of an oil shock that could further strain its economy and impact the lives of its …

Introduction: The Pakistan Stock Exchange (PSX) faces another day of losses as the KSE-100 index drops by nearly 960 points, signaling a bearish trend. The decline is attributed to a combination of profit-taking activities, political uncertainty, and economic factors that have weighed down investor sentiment. Bearish Trend Continues Amid Political Uncertainty: The bearish sentiment prevailed as political uncertainty surrounding the …

Introduction: Pakistan’s stock market, the Pakistan Stock Exchange (PSX), achieved a significant milestone by closing at its highest level in six years. Various factors have contributed to the bullish sentiment among investors, including financial support from Saudi Arabia and the UAE, a recent IMF bailout, and positive economic indicators. Financial Support and IMF Bailout: Saudi Arabia and the UAE provided …

Introduction: In the first month of the current fiscal year 2023-24 (FY24), Pakistan’s exports witnessed a decline of nearly 13%, impacting the country’s trade balance. Despite a decrease in imports and a narrowed trade deficit, economic challenges persist, leading to concerns about the country’s economic growth. Month-on-Month Decline: According to the Pakistan Bureau of Statistics (PBS), the country’s exports stood …

Introduction: Chinese Vice-Premier He Lifeng unveils an ambitious future plan for the China Pakistan Economic Corridor (CPEC) during a special ceremony celebrating a decade of progress. The plan emphasizes the importance of regional connectivity, economic integration, and inclusiveness, welcoming third-country participation to promote common development and prosperity. A Decade of Progress: CPEC, part of President Xi Jinping’s Belt and Road …

Introduction: The Federal Board of Revenue (FBR) announces its tax revenue collection for July 2023, falling slightly short of the target by Rs2 billion. Despite missing the monthly target, the FBR records a significant year-on-year increase of 15%, indicating positive growth in revenue collection. July 2023 Tax Revenue Collection: The FBR reveals that the tax revenue collected for July 2023 …