Foreign direct investment nosedived 52 per cent during the first four months of the current fiscal year (FY23), reflecting the poor economic health and political instability in the country. The State Bank of Pakistan’s latest data issued on Monday showed that the FDI fell to $348.3 million in July-October FY23 from $726.5m during the same period of the last fiscal year (FY22). The FDI has be
The benchmark index of the Pakistan Stock Exchange closed lower on Thursday even though the market opened on a positive note over a decline in international oil prices and the anticipation of $1.3 billion flood-related support from the World Bank. Topline Securities said the initial positivity didn’t sustain as profit-taking made its way in the second half. The rupee’s depreciation and a del
FINANCE MINISTER Ishaq Dar’s announcement that the ruling coalition would withdraw the legal challenge to the April judgement of the Federal Shariat Court that gave the government until the end of 2027 to eliminate interest-based banking must have come as a surprise. Mr Dar said the government wants to eliminate riba as soon as possible. He also said that both the State Bank and the state-contr
Pakistan’s annual economic output could see a cut of 18 per cent to 20pc by 2050 due to climate change risks, according to a report recently published by the World Bank. “The combined risks from the intensification of climate change and environmental degradation, unless addressed, will further aggravate Pakistan’s economic fragility; and could ultimately reduce annual GDP by 18pc to 20pc per ye
Federal Minister for National Food Security Tariq Bashir Cheema on Thursday categorically declared on the floor of the National Assembly that he would not allow the export of sugar without proper verification, stating that he was ready to surrender his responsibilities as head of the Sugar Advisory Board if Prime Minister Shehbaz Sharif could not sustain the pressure from sugar mill owners. The