The exchange rate shed 22 paisas to close at Rs226.37 against the dollar. Pakistan’s exports fell to $2.37 billion in November, compared with the same month last year. The workers remittances have also declined 15.7 per cent to reach $3.21 billion in October. KARACHI: The Pakistani rupee miseries continued unabated against the dollar on Wednesday … Read more
KARACHI: The Pakistani rupee depreciated further against the dollar on Tuesday as the economic and political conditions of the country continued to deteriorate, dealers said. The exchange rate shed 18 paisas to close at Rs225.12 from the previous day’s closing of Rs224.94 against the dollar in the interbank foreign exchange market. Experts said that local … Read more
KARACHI: The Pakistani rupee closed unchanged against the dollar on Monday, owing to dampened economic activities, besides the lack of inflows, dealers said. The exchange rate remained flat, where it closed at Rs224.94 from Friday’s closing of Rs224.94 against the dollar in the interbank foreign exchange market. Experts said that the local unit remained unchanged … Read more
KARACHI: The Pakistani rupee closed almost flat against the dollar on Wednesday despite positive developments on the inflows front, as the macroeconomics of the country remain unstable, dealers said. The exchange rate shed one pasia to reach Rs224.71 from the previous day’s closing of Rs224.70 against the dollar in the interbank foreign exchange market. Experts … Read more
KARACHI: The Pakistani rupee fell against the dollar on Tuesday on the back of deteriorating macroeconomics of the country and pressure on the external sector, dealers said. The exchange rate shed five pasias to reach Rs224.70 from the previous day’s closing of Rs224.65 against the dollar in the interbank foreign exchange market. Experts said that … Read more
Pakistan’s trade deficit increased to $43.3 billion in the first 11 months of this fiscal year, with imports topping $72 billion. Exports fell to $2.6 billion in May, reversing a downward trend from the previous month. The central bank’s foreign currency reserves have been steadily declining. According to PBS, imports climbed 44 percent to $72.2 … Read more
KARACHI: Pakistan’s textile exports witnessed an increase of 26 per cent to hit a record high of $12.6 billion in the first eight months of the fiscal year 2022, the Pakistan Bureau of Statistics (PBS) reported on Wednesday. In rupee terms, the exports witnessed an increase of 33 per cent to 2.15 trillion during the … Read more
KARACHI: The global wave of inflation has hit Pakistan hard. The low-income segment of the society has particularly been affected by the sharp rise in the prices of basic kitchen items. The average inflation based on the Sensitive Price Indicator (SPI) increased 18.09 per cent on a year-on-year basis by the week ended February 18, … Read more
KARACHI: The rupee is expected to remain unstable next week, owing to the uncertainty in the international oil prices and a surge in the domestic demand for imported goods, analysts said. The local currency remained dependent on the movement of international oil prices during the outgoing week. It lost 39 paisas against the dollar during … Read more
KARACHI: As many as 9,701 accidents involving 12,894 vehicles occur in the country each year, leaving thousands of innocent commuters injured on the roads, according to the latest report by the Pakistan Bureau of Statistics (PBS). At least 4,403 of the road accidents proved fatal with as many as 5,436 persons losing their lives over … Read more
Economic hooliganism is commonly perceived to have adverse effects on the country. Pakistan is not less than any other state, as here too, the ministers and their opponents always give statements substantiated with several research reports of their choice and official statistics. The latest figures released by the Ministry of Finance suggests the economic recovery … Read more
KARACHI: The rupee ended firmer against the dollar on Monday, amid foreign currency demand for import payments, dealers said. The exchange rate ended at Rs174.47 against the greenback from last Friday’s closing of Rs174.48 in the interbank foreign exchange market. The dealers said the market witnessed dollar demand for import payments, as the market opened … Read more
KARACHI: The rupee is expected to maintain the upward trend next week, owing to the positive sentiments and flows of the external receipts. The local currency may get support from the transfer of the International Monetary Fund (IMF) tranche and other external payments, besides ease in the demand for import payments. The exchange rate for … Read more
KARACHI: The headline inflation based on Consumer Price Index (CPI) hit two-year high of 13 per cent in January 2022. The CPI inflation general increased by 13 per cent on year-on-year basis in January 2022, as compared to an increase of 12.3 per cent in the previous month and 5.7 per cent in January 2021, … Read more
KARACHI: The textile sector is set to announce second quarter of FY22 ended December 31, 2021 result and we foresee improvement in the earnings, amid strong order book, low cost inventory and currency depreciation. We expect the margins to expand as the companies were able to increase the prices in the international market. The textile … Read more
ISLAMABAD: The government’s decision to rebase the economy from the fiscal year 2005-06 to 2015-16 has added Rs3.1 trillion in its value and jacked up last year’s GDP growth to 5.57 from 5.37 per cent. The change in the base-year was welcomed by stakeholders and experts, however, they said that it also exposed the structural … Read more
KARACHI: Professor Dr S. Akbar Zaidi has been the Executive Director of the Institute of Business Administration (IBA) Karachi since January 2020. His tenure runs till January 2024. A renowned political economist, his areas of interest in research include political economy, development, the social sciences and history. Dr Zaidi completed his PhD in History from … Read more
KARACHI: The pharmaceutical imports, including Covid vaccines surged 475 per cent to $3 billion during the first six months of the current fiscal year, compared with $539 million in the same period of the last year, according to the data issued by the Pakistan Bureau of Statistics (PBS). “The government is currently importing Covid-19 vaccines … Read more
ISLAMABAD: The exports of services from Pakistan witnessed an increase of 22.94 per cent during the first five months of financial year 2021/22 as compared to the corresponding period of last year, Pakistan Bureau of Statistics (PBS) reported. The exports of services during July-November 2021/22 were recorded at $2720.94 million against the exports of $2213.16 … Read more
ISLAMABAD: The exports of leather gloves during the first five months of the fiscal year 2021/22 grew 11.81 per cent, compared to the exports of the commodity during the corresponding period of the last year. During the period from July-November 2021, leather gloves worth $119,516 were exported, compared with the exports of $106,890 during the … Read more
KARACHI: The headline or food inflation based on the Consumer Price Index (CPI) has increased to a 22-month high of 12.3 per cent in December 2021, according to the inflation numbers released by the Pakistan Bureau of Statistics (PBS) on Saturday. The CPI inflation rose 12.3 per cent on a year-on-year basis in December 2021, … Read more
Targeting 53,000 points by December 2022, Arsalan Soomro at KASB Securities project earnings growth of 12 per cent and a dividend yield of 6 per cent. Moreover, the index has the potential to re-rate once issues relating to the cash-starved energy chain are appeased. After considerable signs of economic overheating, the government and the central … Read more
KARACHI: The rupee fell slightly against the dollar on Tuesday but made a new historic low of Rs178.05 at the closing of the interbank foreign exchange market, dealers said. The exchange rate witnessed an ease of one paisa in the rupee value against the dollar from the previous day’s closing of Rs178.04, which was also … Read more
ISLAMABAD: The exports of textile commodities witnessed an increase of 28.41 per cent during the first five months of the current fiscal year (2021/22), compared with the corresponding period of the last year and went up over 35 per cent on a year-on-year basis, the latest data of the Pakistan Bureau of Statistics (PBS) revealed. … Read more
KARACHI: Large-scale manufacturing industries (LSMI) in October, 2021 showed big industry output inched down 1.2 per cent year-on-year, Pakistan Bureau of Statistics (PBS) data showed. “On yearly basis in October 2021, the decline in production of non-metallic mineral products i.e., cement declined 13.2 per cent, pharmaceuticals i.e., tablets 23.1 per cent, capsules 44.4 per cent … Read more
ISLAMABAD: The large-scale manufacturing industries (LSMI) production grew 3.56 per cent during the first four months of the current fiscal year, compared with the corresponding period of the last year, Pakistan Bureau of Statistics (PBS) reported. The LSMI Quantum Index Number (QIM) was recorded at 140.50 points during July-October (2021/22) against 135.66 points during July-October … Read more
KARACHI: The exchange rate ended unchanged on Thursday, as the dollar maintained the record high level of Rs177.98, which was the previous day’s closing at the interbank foreign exchange market, dealers said. They said the market witnessed high dollar demand for import and corporate payments; however, the banks provided sufficient dollars against the demand to … Read more
KARACHI: The rupee witnessed an unabated free-fall for the last several months, as the dollar hit a new record high of Rs177.98 at the closing on the interbank foreign exchange market on Wednesday, amid the monetary tightening announced a day ago. The exchange rate witnessed a decline of 10 paisas in the rupee value against … Read more
