Pakistan’s trade deficit widened over 56% in March 2024 because of a sudden increase in imports, underscoring the challenges being faced by the external sector stability that still hinges on administrative controls. Pakistan Bureau of Statistics (PBS) said on Monday that the gap between exports and imports increased 56.3% to $2.2 billion in March over a year ago. In absolute terms, there was an
Pakistan and Japan pledged to enhance trade relations and collaboration during a meeting between Ambassador WADA Mitsuhiro and Federal Minister for Commerce, Jam Kamal Khan. They discussed ways to strengthen trade relations and mutual trust between Japan and Pakistan, as per a press release issued here. Mitsuhiro congratulated Khan on his recent portfolio, expressing a commitment to enhancing bila
In a strategic move to bolster Pakistan’s renewable energy sector, the Special Investment Facilitation Council (SIFC) has announced its facilitation for a groundbreaking initiative taken by Sinotec Solar Private Limited. The endeavour entails the installation of a colossal three-gigawatt solar panel manufacturing plant in the heart of Karachi, PTV reported on Monday. The project, set to revo
The Minister for Finance and Revenue, Muhammad Aurangzeb, met with Country Director of the World Bank Najy Benhassine, and Country Manager of the International Finance Corporation (IFC) Zeeshan Ahmed Sheikh to discuss collaborative development strategies and initiatives aimed at promoting economic growth, enhancing financial stability, and fostering sustainable development within the country. D
The government, on Monday, greenlit the acquisition of a hefty $500 million loan from the Asian Development Bank (ADB) aimed at fostering an ‘enabling environment to attract private investment’. This strategy, while addressing immediate fiscal requirements, is also driving Pakistan further into the debt trap. The Central Development Working Party (CDWP) endorsed the “concept proposal” for the $