As the government scrambles to save every penny and introduce cost-cutting measures, Prime Minister Shehbaz Sharif added another special assistant to his cabinet. The already hefty cabinet has now swelled to 77 with the induction of Fahd Haroon who was appointed special assistant to the prime minister. “The Prime Minister … has been pleased to appoint Mr. Fahd Haroon, as Special Assistant
Imports of the petroleum group dipped 8.80 per cent year-on-year in the July-December period of FY23 owing to the sharp reduction in demand as a result of the slowing down of the economy amid unprecedented inflation. The highest-ever increase in prices also contributed to lower consumption of petroleum products. In absolute terms, the total import value of the petroleum group fell to $9.28bn in
The exports of textile and clothing fell 16.47 per cent in December to $1.35 billion compared to $1.62bn in the same month last year, data released by the Pakistan Bureau of Statistics (PBS) showed on Thursday. The overall export proceeds shrank for the fourth consecutive month in a row. The drop shows the government would find it difficult to achieve the export target this fiscal year leadi
After having maintained a declining trend in the last three months, the State Bank of Pakistan’s (SBP) foreign exchange reserves witnessed a meagre increase of $258 million to $4.6 billion during the week that ended on Jan 13, but still at an alarming level not sufficient to cover even the country’s three weeks’ imports. However, the currency dealers said the SBP bought the dollars from the mar
Conveying its willingness to accept all the four major conditions of the International Monetary Fund (IMF), the government on Thursday requested the lender to send its mission to Pakistan at the earliest, preferably next week, to conclude a long-awaited agreement to revive the loan programme. “We have completed our workings on all four areas on the basis of our interactions on the sidelines of