Once again the dollar breached the Rs300-barrier in the open market on Wednesday, widening the exchange rate differential to over Rs14 compared to the interbank market. Currency dealers said the shortage of dollars was the main reason for the price hike, however, other factors also influenced the exchange rate in the open market. The dollar was traded as high as Rs301 in the open market whil
The benchmark of representative firms listed on the Pakistan Stock Exchange traded mostly on the higher side on Tuesday. Topline Securities said the positivity in the stock market could be attributed to the Supreme Court taking a “subdued tone” on the Punjab elections and delaying the hearing of the case until May 23. In addition, a religious party that’s part of the ruling coalition called
Large-scale manufacturing (LSM) shrank 25 per cent in March over the same month last year, the highest monthly decline since the Covid-19 pandemic, showed data released by the Pakistan Bureau of Statistics on Monday. The big industry production contracted for the seventh consecutive month of the current fiscal year mainly contributed to a slowdown in the production of export-based textile and c
The high-growth industries in Pakistan lack industry-specific action plans that set a long-term growth vision to match with the Fourth Industrial Revolution (4IR) aimed at consolidating plans for innovation, technology adoption, and skills development of employees, said a new study published by Asian Development Bank on Monday. “The Industry Transformation Maps (ITMs) developed by Singapore tha
Amid the persistent political and economic crisis, businessmen urged the PDM government to announce a business-friendly and pro-growth budget for the next fiscal year to put the economy back on the right track. In a statement issued on Tuesday, Federation of Pakistan Chambers of Commerce and Industry (FPCCI) President Irfan Iqbal Sheikh said the much-needed taxation reforms must be introduced i