Amid a global economic slowdown, Pakistan’s exports of non-textile products decreased 0.65 per cent year-on-year to $5.54 billion in the first half of FY23. The stagnation in export proceeds of the non-textile sector was noted since the start of the current fiscal year as demand slowed down in the buyers’ market. No growth was recorded in exports since September 2022 on a year-on-year basis, ac
Crude oil prices rebounded on Wednesday as demand recovery hopes in top importer China following its exit from Covid-19 pandemic curbs provided support after prices dropped in the previous session on concerns about global economic growth. Brent crude futures gained 59 cents, or 0.7 per cent, to $86.72 per barrel by 0214 GMT after falling 2.3pc in the previous session. US West Texas Intermediate
Prime Minister Shehbaz Sharif on Tuesday indicated that the government was finally ready to swallow the bitter pill of the International Monetary Fund’s (IMF) “stringent” conditions to revive the loan programme. The ruling Pakistan Democratic Movement (PDM) alliance was ready to sacrifice its political career for the sake of the country, he said, addressing the launch of ‘PM Youth Loan Scheme f
Shares at the Pakistan Stock Exchange (PSX) continued to rise for the second straight day on Tuesday, with analysts attributing the bounce back to a lower-than-expected increase in the benchmark policy rate. The benchmark KSE-100 index gained 509.56 points, or 1.33 per cent, to reach 38,942.79 points at 9:56am. Intermarket Securities’ Head of Equity Raza Jafri said the index was reacting pos
Every day thousands of Pakistanis are losing jobs as the ongoing economic crisis deepens further. Just how many millions will become jobless in 2023? Nobody can say for sure. But let’s rephrase the question: What will be the total number of unemployed people by the end of this year, including those that couldn’t find work even before 2023? Estimates vary. But given the current pace of business