Pakistan’s exports of merchandise shrank for the sixth month in a row dipping by 18.67 per cent year-on-year to $2.30 billion in February, stoking fears of massive layoffs in the industrial sector. In the first eight months (July to February) of 2022-23, exports were down 8.65pc at $18.79bn compared to $20.57bn in the corresponding period last year. The drop shows the government would find it d
Pakistan remains committed to expanding trade ties with the United States and is modifying the regulatory regime to do so, says the country’s US ambassador. Masood Khan gave this assurance at a meeting with the US Soybean Export Council (USSEC) at the Pakistan Embassy on Tuesday. “Pakistan is committed to easing the regulatory regime and facilitating businesses in the country,” he said. “Exp
While concluding a public hearing on K-Electric’s Rs484 billion investment plan for the next seven years, the National Electric Power Regulatory Authority (Nepra) on Wednesday said it would review the performance outcome of its previous similar plan of Rs200bn before allowing it over the next two months. During the hearing presided over by Nepra chairman Tauseef H. Farooqui, some interveners al
The government surrendered to another IMF demand on Wednesday, imposing a surcharge of up to Rs3.23 per unit on electricity consumers across the country from July 1. The move is aimed at generating Rs335 billion more in revenue over the next fiscal year to finance the power sector’s debt and liabilities. Consumers of K-Electric would be facing double jeopardy, as the government also gave the Ka
Last month, prices rose at the fastest pace ever in the country’s history, according to available data, with food, beverage and transport costs driving inflation to a point where analysts fear “families will have to make choices and sacrifices”. Monthly inflation, measured by a basket of products called the Consumer Price Index (CPI), jumped to 31.6 per cent in February year-on-year, the Pakist