Pakistan’s export of services grew 9.85 per cent to $6.24 billion in the first nine months of 2024-25 from $5.68bn a year ago, driven by a surge in demand for telecommunication, computer, and information services. Services exports have seen positive growth since February 2024. However, there was a 6.50pc decline in August 2024. In rupee terms, the exports improved by 7.41pc to Rs1.734 trilli
The International Monetary Fund (IMF) is set to meet on Friday to approve the immediate disbursement of about $1 billion to Pakistan under the ongoing Extended Fund Facility and allow an additional arrangement for the $1.3bn Resilience and Sustainability Facility (RSF). In a statement on Thursday, the IMF announced that the board meeting for the first EFF review and RSF is scheduled for Frid
Wars are about grief and valour and more often than not also about hard-nosed business. Seeing the glitter of gold in India’s nationalist frenzy, four Indian entities applied for the trademark ‘Operation Sindoor’, among them Reliance Industries. On Thursday, according to The Hindu, Reliance Industries withdrew its application for the term ‘Operation Sindoor’. It explained that the application w
The federal government will present the next fiscal year’s budget on June 2, with a 16 per cent lower development allocation of Rs921 billion, resulting in the likely closure of about 200 ongoing development projects. This was announced at a press conference by Planning Minister Ahsan Iqbal, who disclosed that an indicative budget ceiling (IBC) of Rs921bn for the next year provided by the Minis
KARACHI/ISLAMABAD: Foreign shipping lines are gearing up to impose heavy freight charges while some companies have planned to implement emergency operational recovery surcharge (EORS) by middle of this month. Shipping industry people said that CMA CGM has circulated a letter regarding immediate implementation of EORS on all shipments to and from Pakistan from May 15 until further notice (valid