THE State Bank Governor’s Annual Report for FY2023 is “cautiously optimistic” about the economy. It projects headline price inflation to drop, the current account deficit to narrow, and GDP to expand during the ongoing fiscal year. However, the report warns, this outlook hinges on the absence of adverse shocks stemming from geopolitical tensions, unforeseen climate events and unfavourable movem
AFTER a tumultuous 2023, most people remain “cautiously optimistic” about Pakistan’s economic outlook as we enter the new year, waiting with bated breath for a new government to take office. Last week, we had an interview with Muhammad Ali Tabba, Lucky Cement’s Chief Executive Officer (CEO) and one of the most dynamic businessmen this country has ever produced, to know his thoughts on Pakistan’s e
The year 2023 ended with no major relief for consumers in essential commodities as the government failed to show any serious efforts to control rising prices at various levels. The unbearable burden of electricity and gas bills has decimated the purchasing power of people who were already reeling with skyrocketing inflation. In the entire year, consumers witnessed only one significant reduct
The caretaker government decided to keep the prices of petrol and high-speed diesel (HSD) unchanged for the first fortnight of the new year. According to a statement issued by the finance ministry, the per-litre price of petrol will remain at Rs267.34 and that of HSD at Rs276.21 until mid-January. The ministry said the government had left the prices unchanged on the recommendation of the Oi
Pakistan’s kinno export this season is likely to shrink by 50 per cent from 450,000 tonnes a few years ago. The country would earn only $100 million instead of $220m despite a good crop of 2.75m tonnes versus 1.75m tonnes last year. The issues of quality and shelf life have deeply impacted the exports.“From the last year, the quality of fruit has dropped significantly from the previous years