The services sector exports in November contracted year-on-year for the first time during the current fiscal year, according to data compiled by the Pakistan Bureau of Statistics. The services exports fell to $631.93 million in November marking a 15.85 per cent decline from the $750.95m in the corresponding month last year. Contrary to this, merchandise exports reversed the trend and increas
The caretaker government plans to get going Pakistan Development Fund Ltd (PDFL) — a $1.5 billion state-owned shell entity — to provide an alternative financing source to public sector development projects through divestment of government stakes in public sector and public-private partnerships (PPP). The entity was created in June 2014 with inflows of $1.5bn financial support from Saudi Arabia
The regular appreciation of the rupee has compelled exporters to sell their dollars in the banking market, which has helped the exchange rate remain stable, said sources in the financial sector. The financial sector also noted another confidence boost with hopes attached to the Special Investment Facilitation Council (SIFC), as business delegations from Gulf countries have started visiting Paki
As Pakistani exporters continue cashing in on the situation that emerged after the Indian ban on onion exports, local consumers are taking the hit of an improvement in foreign exchange earnings by paying up to Rs240 per kg for the commodity in the domestic markets. When India imposed a ban on Dec 8, 2023 till March 2024, local rates suddenly crawled up to Rs160-180 from Rs120-140 on intense buy
The equities market turned in a robust performance in the first outgoing week of the new calendar year thanks to positive developments on the economic front. Arif Habib Ltd said the stock market displayed notable resilience, experiencing a significant surge of 2,211 points on Monday, recording the second-highest absolute point increase and marking the highest surge on the first working day of a