Earlier this year, Pakistan was closing in on technology services exports of $3 billion for FY22. The sitting IT minister even claimed we’d surpass it, and based on the growth trajectory then, there was little reason to doubt him. All hopes for dollar inflows were pinned to one sector basically, apart from the mercy of our overseas brethren. But then, the growth began to taper off. After reachi
Recently, the State Bank of Pakistan announced a 100 basis points hike in the policy rate to 16 per cent, against the market expectations of the status quo. It was done in response to the inflationary pressures, which have been proven to be stronger and more persistent than expected. For too long, we have relied solely on monetary policy to control demand and inflation to cool down the heated e
Recently, the State Bank of Pakistan announced a 100 basis points hike in the policy rate to 16 per cent, against the market expectations of the status quo. It was done in response to the inflationary pressures, which have been proven to be stronger and more persistent than expected. For too long, we have relied solely on monetary policy to control demand and inflation to cool down the heated e
Pakistan repaid a $1 billion international bond, the central bank spokesman said on Friday, amidst growing uncertainty about the country’s ability to meet external financing obligations. The country’s economy has been beset by multiple crises, including the fallout of devastating floods that killed 1,700 people, low foreign exchange reserves and decades-high inflation. “The payment (was) mad
Pakistan Yarn Merchants Association (PYMA) on Saturday warned the government that the imposition of a five per cent regulatory duty (RD) on the import of polyester filament yarn would devastate 800,000 power looms and render millions of people jobless. The association held a protest at the Karachi Press Club and rejected the Economic Coordination Committee’s (ECC) decision of levying RD the p