Exports to the Middle East bounced back with a growth of 28.98 per cent to $1.257 billion in the first five months of the current fiscal year against $974.50m from a year ago. A surge in demand for Pakistani products was observed from countries like the United Arab Emirates, Saudi Arabia and Kuwait, according to data compiled by the State Bank of Pakistan. However, the exports to Qatar decre
The repatriation of profits and dividends on foreign investments plunged to just $46.8 million in November against the first four months’ average of $120m, reflecting restriction on dollar outflows amid falling foreign exchange reserves. The data issued by the State Bank of Pakistan on Wednesday showed the multinationals remitted $532.2m to their respective destinations abroad during the July-N
The cash-starved government raised almost 300 per cent more than the target through the auction of treasury bills on Wednesday, reflecting a widening gap between revenue collection and its ever-rising expenditures. The caretaker government has been borrowing heavily to meet the rising spending while the banks are equally eager to invest in the risk-free high-yielding government papers. In the l
Participating for the first time in an international human resource and labour services expo in Riyadh, Pakistan signed over a dozen agreements with Saudi and international companies to boost employment opportunities abroad for the Pakistani workforce. These agreements would open doors for the Pakistani workforce in various sectors such as construction, hospitality, information technology, s
The Central Development Working Party (CDWP) has approved seven projects worth Rs85.24 billion across various sectors namely information technology, health, physical planning and housing, specifically designated for the bustling metropolis of Karachi. The CDWP meeting chaired by Deputy Chairman Planning Commission Jehanzeb Khan approved five development projects at a total cost of Rs13bn, wh