Textiles and clothing exports fell 12.42 per cent year-on-year to $12.47 billion in the first nine months of the current fiscal year, data released by the Pakistan Bureau of Statistics (PBS) showed on Tuesday. The exports recorded a steep decline of 22.61pc to $1.26bn in March from $1.62bn in the corresponding month of last year. However, on a month-on-month basis, textile exports rose 6.6pc.
Pakistan is estimated to produce 26.81 million tonnes of wheat during the ongoing Rabi season against the target of 28.4 million tonnes. While production will be below the target, the area under wheat cultivation also reduced from 9.3 million hectares to 9.1 million hectares. However, the reason for below-the-target wheat production was not explained during a meeting of the high-powered Fede
The Chinese mine operator in Thar whose output feeds coal-based power plants generating 1,360 megawatts has reportedly cut its production by half over non-payment of dues to the tune of $60 million. The China Machinery Engineering Corporation (CMEC) — which works under an offshore agreement with Sindh Engro Coal Mining Company (SECMC) as the operator of an open-pit lignite mine in Block-II of t
Share prices oscillated within a small range on Monday as a lack of triggers resulted in a sluggish trading session at the Pakistan Stock Exchange. Arif Habib Ltd said investors kept waiting for the outcome of ongoing negotiations between the government and the International Monetary Fund (IMF) for the release of the overdue loan tranche. Participation remained lethargic during trading hou
Engro Fertilisers Ltd announced on Monday its consolidated net profit for January-March was Rs4.4 billion, down 29 per cent from a year ago. Its quarterly earnings dropped 31pc from the preceding three-month period. The company also announced an interim cash dividend of Rs3.50 a share. According to Arif Habib Ltd, a surge in urea and DAP prices by 45pc and 10pc, respectively, led to a reve