Business confidence has nosedived in the last six months across different sectors of the economy, according to the Business Confidence Index (BCI) Survey (Wave-22) released by the Overseas Investors Chamber of Commerce and Industry (OICCI). Conducted across the country in September-October, the survey said the overall Business Confidence Score (BCS) dropped to negative four per cent, down 21 pe
Amid reports that foreign banks, including those from China, may find it difficult to operate in Pakistan after the financial system becomes fully compliant with Sharia, the central bank has conceded challenges related to public debt, foreign banks, external debt commitments and monetary policy that would need to be addressed by a steering committee of all stakeholders under a five-year transforma
Shares at the Pakistan Stock Exchange began the week in the red as uncertainty looms on the outlook for the country’s foreign exchange reserves with no clarity on when the pending ninth review of the International Monetary Fund (IMF) will conclude. Pakistan’s forex reserves stood at a historic low of $7.5 billion for the week ending on November 25 — barely enough to cover a month’s imports.
Prime Minister Shehbaz’s rudderless government has failed to inspire trust in the economy, currently in a mess, with brewing currency, energy and commodity crises, making bare survival difficult for a wide majority of lucky working Pakistanis. What it must be like for the jobless is anybody’s guess. The rise in crimes committed by people against their own families gives clues about the severity
State Minister for Petroleum Musadik Malik announced on Monday that Russia has decided to provide crude oil, petrol, and diesel to Pakistan at discounted rates. The decision comes a month after Finance Minister Ishaq Dar said that the country is considering buying discounted Russian oil, pointing out that neighbour India has been purchasing oil from Moscow and Islamabad also has a right to expl