With a sharp decline in the current account deficit (CAD) to $12 million in February from $420m in the preceding month, Pakistan recorded a surplus of $691m in the first eight months of FY25 against a CAD of $1.7bn a year ago, showed data released by the State Bank of Pakistan (SBP) on Monday. The central bank recently said that the current account would be in deficit or surplus by 0.5 per cent
The textile and clothing exports grew 9.31 per cent year-on-year during the first eight months of the current fiscal year, showed data released by the Pakistan Bureau of Statistics on Monday. From the start of the FY25, the textile exports maintained a rising trend with robust growth of 13pc in August, 17.92pc in September, 13.11pc in October, 10.81pc in November, 5.55pc in December and 15.85pc
Foreign direct investment (FDI) plunged 45 per cent year-on-year to $95 million in February, reported the State Bank on Monday. However, the FDI during July-February FY25 increased by 41pc to $1.618bn compared to $1.147bn a year ago. The government is working to attract foreign investments, but the increasing terrorism is damaging the country’s image and discouraging potential investors.
Pakistan and the United Arab Emirates (UAE) on Monday reaffirmed their commitment to expand bilateral cooperation in the railway sector and other economic domains. Federal Minister for Railways Hanif Abbasi met with Ahmed Al-Tahiri, the First Secretary of the United Arab Emirates to Pakistan, at the Ministry of Railways. During the meeting, both dignitaries discussed the strong bilateral rel
Amidst alarm over the hiring of a US-based company for digitalisation of tax system in the country, Finance Minister Muhammad Aurangzeb on Monday told the National Assembly that McKinsey and company was selected after a “transparent competitive” process. MQM-P lawmaker Syed Hafezuddin while speaking on a calling attention notice had pointed out that the New York-based company had subsidiaries f