Pakistan’s trade deficit with nine neighboring countries rose sharply by 43.22% to reach $5.328 billion in the first half of fiscal year 2025 (1HFY25), compared to $3.72 billion in the same period last year, according to data from the Bank Pakistani state. SBP). The widening trade gap is primarily due to a significant increase in … Read more
World Bank Country Director Naji Ben Hussein denied reports that the international financial institution criticized Pakistan’s Oran plan, calling the allegations a “misinterpretation.” In a statement shared on X (formerly Twitter), Ben Hassine addressed the confusion caused by articles published earlier that day. He explained that the reports misinterpreted a specific sentence in the newly … Read more
Remittances from overseas Pakistanis exceeded export earnings during the first half of fiscal year 2024-25, highlighting a shift in foreign exchange inflows despite the government’s efforts to boost exports. According to data issued by the State Bank of Pakistan, remittances amounted to $17.645 billion, exceeding exports of $16.561 billion, a difference of $1.084 billion. In … Read more
Islamabad: National Logistics Corporation (NLC) and DP World have officially announced a strategic partnership to modernize logistics and delivery systems in Pakistan, which will help set new standards for improving the logistics industry. A press release issued here on Sunday said that the historic cooperation between NLC and DP World will serve as a catalyst … Read more
The International Monetary Fund has rejected a formal request from Pakistan’s Ministry of Energy to reduce sales tax on electricity bills, citing liabilities under the existing loan programme, Express News reported. The decision deals a blow to the government’s efforts to ease financial pressures on consumers. The Ministry of Energy had requested IMF approval to … Read more
Pakistan’s gross domestic debt and government liabilities rose by 17.71% to reach Rs49 trillion in November 2024, compared to Rs41.53 trillion in the same period last year, according to the latest data from the State Bank of Pakistan (SBP). On a monthly basis, domestic debt and liabilities rose by 2.85% from Rp47.53 trillion in October … Read more
MOL Pakistan’s gas sale deal with Universal Gas Distribution Company Ltd (UGDCL) from the newly developed Razgir field has drawn criticism from its joint venture partners and other private gas distribution companies, who claim that the gas sale bypassed the mandatory competitive bidding process. dawn I mentioned. This is the first deal of its kind … Read more
Pakistan’s monthly imports of goods reached $5.2 billion in December 2024, the highest figure in two years and an increase of $800 million compared to November 2024’s $4.4 billion. This recovery comes after a decline to $4.5 billion in December 2023, reflecting renewed momentum in trade flows and regional partnerships. Imports from Iran saw a … Read more
The Department of Environmental Protection has launched Pakistan’s first anti-smog tower in Lahore, an initiative aimed at combating worsening air pollution in the city. The tower can filter 50,000 cubic meters of air per hour and purify up to 1.2 million cubic meters per day, and is currently undergoing a 15-day trial at no cost … Read more
Pakistan’s foreign exchange reserves saw a decline of $261.2 million or 1.57% on a week-on-week basis, bringing the total to $16.37 billion during the week ending December 20, 2024. The decline was primarily driven by a significant decline in reserves held by Pakistan. State Bank of Pakistan (SBP). According to data released by the State … Read more