Pakistan posted a current account deficit (CAD) of $162 million in the first month (July) of the current fiscal year 2024-25, slightly exceeding market expectations and the average of the past 12 months, yet still remaining well within the targeted limit. The current account deficit occurred due to increased imports of goods to support economic activities and the apparent elevated repatriation
Fresh efforts for the long-awaited and elusive reforms to ease the cost of doing business and making investments were recently mounted by Prime Minister Shehbaz Sharif. “Acknowledging that simplifying and rationalising regulations to reduce bureaucratic red tape and compliance costs is a substantial challenge,” former president of the South Asian Association for Regional Cooperation explained.
There are few businesses in Pakistan that are holding their own — without subsidies and despite tough economic conditions. Even fewer would see and bet on future growth opportunities in this economy unless the government promised to hold hands to ensure guaranteed profits. Pakistan’s largest power-cable manufacturer, Fast Cables, is one of those businesses. The company owes its spectacular succ
One of the country’s largest payment gateways has denied reports, circulating on social media, that ATMs will remain closed for two to three days due to a cyberattack. The clarification from 1LINK Limited, a consortium of major banks that own and operate the largest representative inter-bank network in the country, was issued after a message started making rounds on social media and shared on W
The Senate Functional Committee on Devolution at its meeting on Monday unanimously agreed to abolish the ministries of Industries and Production and Energy (petroleum division) and recommended to devolve their responsibilities to provinces. The committee meeting, chaired by Senator Zarqa Suharwardy, says further recommendations on the distribution of responsibilities to provinces or the Council