Pakistan and China on Monday renewed their commitment for the success of China-Pakistan Economic Corridor (CPEC) as the two sides expressed their desire for enhanced cooperation in the areas of information technology, economy, agriculture, and human resource development. Both sides expressed this resolve during a series of meetings of visiting China’s Vice Foreign Minister Sun Weidong with Pre
During the first half of this fiscal year (July-Dec 2023), the current account deficit fell to just $831 million from a whopping $3.63 billion in the same period of last year. Also, net foreign direct investment (FDI) in July-Dec 2023 rose 35 per cent to $862.6m from $640m in July-Dec 2023, according to the State Bank of Pakistan (SBP). One can expect a substantial increase in FDI as foreign in
As elections draw near, businesses in Pakistan, much like individuals, harbour a blend of concern and scepticism about the future. Interestingly, they don’t seem overly bothered by the delay in the release of political parties’ election manifestoes, which are often full of promises that tend to go unfulfilled once the party assumes power. In addition to numerous prominent businessmen who are
The ship agents came out with a hard-hitting response to the Karachi Port Trust chairman’s announcement to go tough against the shipping companies allegedly looting the local business community by overcharging. In a statement, Pakistan Ship’s Agents Association (PSAA) has not only rejected the KPT chief’s instructions about shipping charges but also refused to accept it as a regulator of the sh
The export of raw food products recorded an upsurge of almost 111.63 per cent in December compelling domestic consumers to pay higher prices. These unchecked exports pushed the food inflation to a staggering 28.8pc in December 2023 as prices skyrocketed affecting accessibility to essential commodities, particularly wheat flour, rice, sugar, meat and vegetables. Since October 2023, the countr