While the South Asian region will be growing at 5.4 per cent and maintaining single-digit inflation (at 6.6pc), the Asian Development Bank (ADB) forecasts Pakistan limping at 1.9pc growth rate and its population will continue reeling under elevated cost of living, reflected by a 25pc rate, during the current fiscal year. In its flagship Asian Development Outlook (ADO) released on Wednesday, the
IT professionals working for overseas clients unleashed a barrage of remittance-related complaints on Wednesday at a seminar attended by representatives of the State Bank of Pakistan (SBP) and commercial banks. Organised by the Pakistan Software Export Board (PSEB) and the Ministry of Information Technology and Telecommunication in collaboration with the SBP and the Pakistan Software Houses Ass
The United Arab Emirates (UAE) has banned the import of frozen meat from Pakistan through sea route after allegedly finding fungus in a consignment of meat. The meat consignment had been sent by a Karachi-based company by sea and the whole shipment was destroyed by the UAE authorities, while a ban was imposed on all further imports of frozen meat from Pakistan through maritime channels at least
International Monetary Fund (IMF) Managing Director Kristalina Georgieva has urged Pakistan to “collect more taxes from the wealthy and protect the poor people” amidst soaring inflation following the nation’s securing of a last-minute bailout in July. Pakistan’s year-on-year inflation for the month of August leapt to 27.4pc, contracting household budgets. That same month, exorbitant electricity
Pakistan Stock Exchange (PSX) fell slightly in the outgoing week over persistent anxiety over a potential hike of 150-200 basis points in policy rate and unimpressive developments on the economic front. However, in a highly positive development, Pakistani rupee’s rapid recovery continued against the dollar, which gave a boost to the market’s mood and encouraged investors to buy attractive stock