Textile and clothing exports shrank 11.44 per cent during the first month of the current fiscal year due to higher production costs, liquidity constraints and lower global demand. In absolute terms, the value of textile and clothing exports fell to $1.31 billion in July from $1.48bn in the corresponding month last year, data released by the Pakistan Bureau of Statistics showed on Monday. The
Buoyed by the IMF stimulus, Pakistan’s foreign financing inflows rose by more than 27 times to $5.1 billion in July compared to less than $186 million a year ago, official data showed on Monday. In its monthly report on foreign economic assistance, the finance ministry’s Economic Affairs Division said total foreign economic assistance in July amounted to $2.89bn compared to just $185.6m of the
The stock market remained range-bound in the outgoing week owing to many political and economic developments. Arif Habib Ltd said the transfer of power from an elected government to an interim caretaker setup played a role in keeping the index movement within a short range. Additionally, the market sentiment was adversely affected by an increase in petrol and diesel prices of Rs17.50 and Rs2
With the International Monetary Fund’s (IMF) short-term $3 billion Stand-by Arrangement (SBA) loan programme in place and the default fears averted, it was widely hoped that the timely polls in the country would end political uncertainty in the country, putting the faltering economy on the trajectory of stability. However, the new developments surrounding the dissolution of the National Assembl
Domestic Debt Restructuring (DDR) is necessary and viable. The term’ debt restructuring’ includes three possibilities — extension of maturities (re-profiling), coupon resets or reduction of the principal. There is no fourth option. Principal haircuts are generally avoided, and they are not necessary. Re-profiling and coupon resets are sufficient to achieve policy goals. Why restructure domesti