The Federal Board of Revenue (FBR) has outlined a bold plan to address Pakistan’s significant revenue shortfall, ahead of an upcoming visit by an International Monetary Fund (IMF) delegation. This development comes at a time when Pakistan is struggling to meet critical financial commitments to secure International Monetary Fund support and stabilize its fragile economy. … Read more
Jeff Bezos’ Blue Origin is preparing for the inaugural launch of its New Glenn rocket on Sunday, marking a major milestone in its journey to compete with Elon Musk’s SpaceX in the commercial space industry. The towering, 30-story rocket has been in development for more than a decade and represents a multibillion-dollar investment aimed at … Read more
Tesla reported a record year in China with sales exceeding 657,000 vehicles in 2024, representing an 8.8% increase compared to the previous year. Despite this strong performance in the world’s largest auto market, global Tesla deliveries fell for the first time, falling 1.1% year-on-year to 1.79 million vehicles. China accounted for 36.7% of Tesla’s global … Read more
Pakistan narrowly avoided a sovereign debt default in 2024 and succeeded in securing relative economic stability through an International Monetary Fund bailout, a report said. However, the year brought increasing challenges, including higher taxes and an economic recession, which left the wage-working class under enormous pressure. The government’s decision, under IMF terms, to raise the … Read more
Pakistan narrowly avoided a sovereign debt default in 2024 and succeeded in securing relative economic stability through an International Monetary Fund bailout, a report said. However, the year brought increasing challenges, including higher taxes and an economic recession, which left the wage-working class under enormous pressure. The government’s decision, under IMF terms, to raise the … Read more
Islamabad: Pakistan’s telecommunications industry faced significant setbacks in foreign direct investment (FDI), contributions to the national exchequer, and overall investments during fiscal year 2023-2024, highlighting the broader economic challenges facing the country. According to the annual report released by the Pakistan Telecommunication Authority (PTA) on Monday, foreign direct investment in the sector fell by 21% … Read more
At a recent high-level meeting of the Prime Minister’s Committee on IT Export Transfers, a stark fact emerged: only 38,000 of Pakistan’s 2.32 million freelancers currently have bank accounts in the country. The revelation has highlighted critical bottlenecks in capital flow to the booming IT sector. The meeting, chaired by Finance Minister Muhammad Aurangzeb, emphasized … Read more
ISLAMABAD: National Economic Research Associates (NERA), a US-based consultancy hired by the Pakistan Telecommunication Authority (PTA), has identified major hurdles that could delay the rollout of 5G spectrum technology, scheduled for April 2025. NERA shared its preliminary findings with the advisory committee on Friday after a week of consultations with stakeholders. The committee, headed by … Read more
A Chinese employee inspects a circuit board on a console production line at a factory in Wuhan, Hubei Province, China on August 16, 2021. — Reuters CCCPK develops a “Business Climate Index for Chinese Enterprises”. The security issue has been identified as the main barrier to corporate growth. The survey reveals a spirit of resilience … Read more