By Staff Reporter
KARACHI: Pakistan posted a current account surplus of $255 million in May, compared with a deficit of $1.5 billion in the same month last year, the central bank said on Monday, as a sharp fall in imports and a rise in exports helped improve the country’s external balance.
By Staff Reporter
KARACHI: Pakistan received its first shipment of Russian crude oil on Sunday under a new deal that aims to diversify its oil import sources and secure discounted rates from Moscow.
By Staff Reporter
ISLAMABAD: Pakistan hopes to finalise a $1.1 billion tranche from the International Monetary Fund (IMF) bailout program by the end of June, Prime Minister Shehbaz Sharif said on Friday.
By Staff Reporter
ISLAMABAD: Pakistan’s economy suffered through a dismal year in 2022-23, with all its macroeconomic targets falling short of expectations due to a stalled International Monetary Fund (IMF) program, restricted imports, severe floods, and political turmoil.
By Staff Reporter
ISLAMABAD: The National Economic Council (NEC) on Tuesday approved an energy conservation plan that will require shops and commercial centers to close by 8pm starting from July 1.
By Staff Reporter
ISLAMABAD: Pakistan’s economic outlook for the next year appears promising, with a growth target of 3.5 percent set amidst expectations of political stability, improvements in the external account, and a steadfast macroeconomic environment.
By Staff Reporter
ISLAMABAD: Nearly half of Pakistan’s cigarette market is dominated by illicit brands that evade taxes and sell below the minimum legal price, a survey by market research firm IPSOS showed on Friday.
By Staff Reporter
ISLAMABAD: Pakistan has approved a barter trade mechanism with Afghanistan, Iran and Russia to boost trade and help the country’s struggling economy, the commerce ministry said on Friday.
By Staff Reporter
ISLAMABAD: Pakistan’s inflation hit another record high in May, making it Asia’s fastest for a second month, just days before the next fiscal budget is due to be unveiled in a country facing unprecedented economic challenges.
By News Desk
The flood of smuggled cigarettes that hit Pakistan after the stellar tax hike brought by a minibudget a few months ago continues to surge, allowing black market forces to prey upon legitimate businesses and depriving the national kitty of previous revenue.
