Repatriation of profit and dividends on foreign investments surged almost 21 times year-on-year to $272.5 million in October, indicating the State Bank of Pakistan has relaxed the tighter controls on dollar outflows. Currency market experts said the outflow of half a billion dollars during the first four months of 2023-24 would surely undermine the efforts of the central bank to keep the foreig
Business confidence in Pakistan is on the upswing, according to the latest Business Confidence Index (BCI) survey released by the Overseas Investors Chamber of Commerce and Industry (OICCI) on Tuesday. Wave 24 of the OICCI survey conducted from October to November indicated a seven per cent overall improvement over the preceding wave held in March-April. The survey paints a “nuanced picture”
K-Electric on Tuesday pleaded for a non-exclusive distribution and supplier licence for the next 20 years amid concerns from some consumers if such an instrument would ensure affordable and sustainable electricity to even the lower income groups and what would be the safeguard mechanism. The National Electric Power Regulatory Authority (Nepra) held the public hearing and would come up with its
Pakistan’s gross domestic product (GDP) had contracted by 0.17 per cent rather than growing by 0.29pc during FY23 under the PDM-led coalition government while GDP growth in FY22 under the PTI regime was slightly higher than previously estimated. This was officially confirmed on Tuesday by the National Accounts Committee (NAC) which also approved the first quarter (July-September 2023-24) GDP gr
The World Bank on Tuesday cautioned Pakistan against short-term measures like domestic debt restructuring and attracting one-time investment through a new civil-military initiative, without addressing the country’s ‘big picture issues’ through reforms aimed at improving larger business climate, taxation and human capital. The “creation of a new institution is no quick fix” to bring investment w