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.
Economy
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.
Langrial to lead FBR after Tiwana’s early exit
By Staff Reporter
ISLAMABAD: The government on Wednesday appointed Rashid Mahmood Langrial as the new chairman of the Federal Board of Revenue (FBR), replacing Malik Amjed Zubair Tiwana who sought early retirement, a notification said.
Pakistan secures $12bn debt rollover commitments from China, Saudi Arabia, UAE – Bloomberg
By Staff Reporter
ISLAMABAD: Pakistan has secured commitments from China, Saudi Arabia and the United Arab Emirates to rollover debt for a year, a boost for the nation as it awaits a final approval for its new $7 billion loan program with the International Monetary Fund, Bloomberg reported on Tuesday.