Despite projected remittance inflows of $38 billion in the current fiscal year (FY25), Pakistan’s per expatriate remittance remains significantly lower than that of peer countries. “Although remittances have grown at a compound annual rate of 6.1 per cent from 2013 to 2023, per expatriate remittance remains low in comparison to other countries in the region,” said a report released by the Polic
After an unprecedented relief rally in post-ceasefire week, the Pakistan Stock Exchange (PSX) came under renewed selling pressure, forcing the index to close the outgoing in the red as jittery investors trimmed their positions amid fears of an unfriendly IMF-driven federal budget. Contrary to the preceding week, when the benchmark KSE 100 index recovered a staggering 12,474 points or 11.64pc th
THE government has delayed the announcement of the budget for the next fiscal year by a little over a week to June 10, presumably due to lingering differences with the IMF over certain expenditure proposals the lender thinks could undermine progress on its $7bn funding programme. For its part, the government considers the contested expenditures critical to providing relief to the middle class,
Zong has launched its locally-hosted cloud platform powered by AI capabilities, boosting the cloud ecosystem in Pakistan. The platform features enterprise-grade performance and security with low-latency features, making it a robust solution for enterprise cloud requirements. Z SAIS is a native cloud platform with 40+ solutions across more than seven domains, the company added. The platfor
After retiring Rs1.5 trillion in debt during the first half of the current fiscal year (FY25), the government has significantly increased its borrowing from commercial banks, reaching Rs2.7tr by early May. From July to the end of December FY25, the government retired Rs1.541tr from commercial banks, reflecting a cautious approach to keep the fiscal gap within the IMF’s prescribed range in order