The Abu Dhabi Fund for Development (ADFD) has rolled over a $2 billion deposit with the State Bank of Pakistan (SBP) that was payable over the next two months, Finance Minister Ishaq Dar confirmed on Wednesday. In a late-night tweet, he stated, “Abu Dhabi Fund for Development (ADFD) has rolled over their deposit of $2 billion with State Bank of Pakistan, as discussed by [PM Shehbaz Sharif] with
Despite a substantial cut in mill rates, retailers continue fleecing flour consumers by charging higher prices for different varieties due to the Sindh government’s weak regulatory mechanism. Meanwhile, improved supplies have brought down the prices of tomatoes and potatoes, but onions and pulses maintained a rising trend. Makers of Ashrafi have slashed the rates of 5kg and 10kg fine flour b
As the government scrambles to save every penny and introduce cost-cutting measures, Prime Minister Shehbaz Sharif added another special assistant to his cabinet. The already hefty cabinet has now swelled to 77 with the induction of Fahd Haroon who was appointed special assistant to the prime minister. “The Prime Minister … has been pleased to appoint Mr. Fahd Haroon, as Special Assistant
Imports of the petroleum group dipped 8.80 per cent year-on-year in the July-December period of FY23 owing to the sharp reduction in demand as a result of the slowing down of the economy amid unprecedented inflation. The highest-ever increase in prices also contributed to lower consumption of petroleum products. In absolute terms, the total import value of the petroleum group fell to $9.28bn in
The exports of textile and clothing fell 16.47 per cent in December to $1.35 billion compared to $1.62bn in the same month last year, data released by the Pakistan Bureau of Statistics (PBS) showed on Thursday. The overall export proceeds shrank for the fourth consecutive month in a row. The drop shows the government would find it difficult to achieve the export target this fiscal year leadi