By Staff Reporter
ISLAMABAD: The government has increased its relief package by 71 percent to Rs60 billion to shield the poor, as it grapples with a slowing economy and high food prices that are eroding household purchasing power.
Economy
Pakistan debt metrics show signs of improvement
By Staff Reporter
KARACHI: Pakistan’s debt burden is easing, with the debt-to-GDP ratio falling to 70 percent in FY24, as nominal GDP growth outpaces debt expansion, and external debt metrics also showing signs of improvement.
IT sector faces $300 million hit from national firewall – trade body
By Staff Reporter
KARACHI: Pakistan’s IT sector is facing a crisis as a government-imposed firewall causes widespread disruptions, with estimated losses of $300 million, amid warnings of a prolonged economic impact.
Widespread internet outages reported across Pakistan
By Staff Reporter
ISLAMABAD: Pakistan’s internet infrastructure suffered a major disruption on Thursday, with widespread outages reported across the country, sparking concerns over the government’s tightening grip on online activity and its impact on the economy.
Surveillance slows internet to a crawl, hurting digital economy
By Staff Reporter
ISLAMABAD: The internet services have slowed sharply, with speeds dropping by 30-40 percent, as the government’s heightened monitoring efforts take their toll on the country’s digital economy.
Leaders vow economic stability as Pakistan marks 77th Independence Day
By Staff Reporter
ISLAMABAD: Pakistan’s leaders vowed to bring economic stability to the country as it celebrated its 77th Independence Day on Wednesday, with Prime Minister Shehbaz Sharif promising to reduce inflation and electricity prices.
Sharif government delivers pre-Independence Day fuel price cut
By Staff Reporter
ISLAMABAD: The government on Tuesday reduced petrol and diesel prices by 3.1 percent and 2.5 percent, respectively, effective immediately, as global crude costs declined.
Pakistan secures $2.17 billion in foreign aid commitments in seven months to March
By Staff Reporter
ISLAMABAD: Pakistan has secured new commitments worth $2.166 billion from development partners in the seven months to March 2024, the Economic Affairs Division (EAD) said on Tuesday.
SC upholds penalty on restaurant chain for Starbucks brand infringement
By Staff Reporter
ISLAMABAD: The Supreme Court of Pakistan on Monday upheld a penalty of Rs6 million on a local restaurant chain for deceiving consumers by fraudulently using Starbucks Corp’s branding to sell its coffee.
Car sales surges 60pc y/y in July, but slum 36pc m/m on tax hike
By Staff Reporter
KARACHI: Car sales rose 60% year-on-year in July, but fell 36% month-on-month after a tax increase, industry data showed.