By Staff Reporter
KARACHI: Pakistan saw its first current account surplus in two and a half years in March, as government restrictions on imports helped boost the country’s balance of payments, State Bank of Pakistan (SBP) data showed on Wednesday.
Commodities
Gallup Survey: Business confidence dips as owners face increasing challenges
By Staff Reporter
KARACHI: Business owners in Pakistan are becoming increasingly pessimistic about the prospects and conditions of their businesses, according to the latest Gallup Pakistan Survey released on Friday.
World Bank says Pakistan’s GST system falls short by 50pc
By Staff Reporter
ISLAMABAD: The World Bank (WB) has identified a significant gap of around 50 percent in General Sales Tax (GST) on traders in real VAT mode in Pakistan, which could be closed by eliminating exemptions on the registration threshold of Rs 50 million.
World Bank recommends overhaul of cigarette taxation in Pakistan to boost revenues
By Staff Reporter
ISLAMABAD: The World Bank (WB) has recommended the government to abolish the exiting two-tier system and introduce a single-tier levy on the premium excise duty rate for maximizing revenues from the cigarette industry.
World Bank cuts Pakistan’s GDP forecast to 0.2pc
By Staff Reporter
ISLAMABAD: The World Bank sharply lowered Pakistan’s growth forecast for the current fiscal year of 2022/23, saying the country’s economic growth prospects have weakened due to tighter financial conditions and limited fiscal space.
March exports tumble for sixth month as global demand cools
By Staff Reporter
ISLAMABAD: Exports fell in March year-on-year for the sixth month in a row, hit by a cooling global economy and a persistent slump in industrial activities in the country, data showed on Monday.
Inflation soars in March to record high of 35.37pc
By Staff Reporter
ISLAMABAD: Inflation in Pakistan jumped in March to its highest in almost six decades, driven by skyrocketing food and fuel prices, statistics bureau data showed on Saturday, putting pressure on the central bank to hike rate aggressively at a meeting due next week and to keep tightening policy in the months ahead.
Weak rupee, high energy prices to keep inflation elevated
By Staff Reporter
ISLAMABAD: Rupee devaluation and rising energy prices are likely to push up consumer prices in the near term that are already sky high, the finance ministry warned on Friday.
Cotton phutty price set at PKR 8,500 per maund
The move is aimed at luring farmers back to their once favourite cash crop after a crash in domestic production over the last few years, necessitating costly imports. By Muhammad Ali.
Inflation hits 31.5 percent, highest in 50 years
By Staff Reporter
KARACHI: Inflation in February hit the highest in 50 years on runaway food, beverage and transportation prices, official data showed on Wednesday, highlighting the challenge for the central bank as the country reels under its worst financial crisis in over 75 years of history.