The informal sector’s contribution to Pakistan’s economy is remarkable as it adds a handsome volume of approximately $661 billion, tantamount to 35.6 per cent of GDP. According to the International Labour Organisation, it constitutes 75pc and 68pc of jobs in rural and urban areas; however, it is pregnant with issues like child and bonded labour, gender-based discrimination, and insecurities in the
The government on Wednesday increased the prices of all petroleum products, except the insignificant light diesel oil (LDO), by up to Rs13 per litre for the next fortnight. With the latest review, the most inflationary high-speed diesel (HSD) prices made a new record, reaching Rs293 per litre. The HSD price adjustment directly impacts consumer prices because of an increase in transport costs.
The drought-hit regions of northern and central India, all the way up to Pakistan, are staring at lower food output and high prices as the region is set to receive lower than normal rainfall due to the El Nino weather pattern in the second half of the year. The trend is likely to affect cereal and oilseed crops across Asia with the forecast of hot, dry weather. Chris Hyde, a meteorologist at
Foreign exchange holdings of both the State Bank of Pakistan (SBP) and commercial banks improved during the week ended on March 10 reflecting the higher inflows of remittances and export proceeds. Pakistan’s overall forex holdings rose by $92m to $9.847bn during the week. Finance Minister Ishaq Dar on Thursday tweeted that the SBP would soon receive $500 million from the Industrial Credit Ba
The premier and the finance minister asserted on Thursday that there would be “no compromise” on the country’s nuclear and missile programme and they are “jealously guarded by the state”. The statements from the top came amid concerns raised by some quarters after the visit of the International Atomic Energy Agency’s (IAEA) head to Pakistan last month and the government’s failure to strike a de