Large-Scale Manufacturing (LSM) experienced a significant year-on-year contraction of 14.37 per cent in May, showed data released by the Pakistan Bureau of Statistics on Thursday. This marks the ninth consecutive month of decline for the country’s major industries during the outgoing FY23. The primary reason behind this decline can be attributed to a slowdown in the production of export-oriente
Large-Scale Manufacturing (LSM) experienced a significant year-on-year contraction of 14.37 per cent in May, showed data released by the Pakistan Bureau of Statistics on Thursday. This marks the ninth consecutive month of decline for the country’s major industries during the outgoing FY23. The primary reason behind this decline can be attributed to a slowdown in the production of export-oriente
While seeing a bumpy ride ahead, the business community believes the approval of a nine-month $3 billion Stand-By Arrangement will end a long-drawn-out period of economic uncertainty and volatility. Federation of Pakistan Chambers of Commerce and Industry (FPCCI) President Irfan Iqbal Sheikh said securing the IMF programme was indispensable at this critical juncture of the country’s economic hi
The central bank’s foreign exchange reserves increased by $61 million to close at $4.52 billion during the week ended July 7, official data showed on Thursday. The reserves didn’t include the $4.2bn inflows the State Bank received earlier this week from the International Monetary Fund and two countries. Adding those inflows will take the bank’s reserves to $8.7bn, close to a level they were las
The Cybercrime Wing of the Federal Investigation Agency (FIA) on Friday said it has arrested nine suspects and booked 19 others for allegedly blackmailing citizens through loan-giving mobile applications (apps). The development comes a day after the agency launched an investigation into the death of a man in Rawalpindi — who purportedly ended his life — due to “threats” made by loan apps over h