Trading on the stock exchange commenced on a negative note in the outgoing week as ratings agency Fitch stated that Pakistan faced a substantial debt payment of $3.7 billion in May and June. Arif Habib Ltd said another reason for pessimism was the absence of Pakistan from the agenda of the International Monetary Fund (IMF) meetings, which dampened the hope for the resumption of the Extended Fu
OVERSEAS Pakistanis are sending fewer dollars back home these days, with workers’ remittances dropping 13pc to $22.7bn during the 10-month period between July and April of this fiscal year as compared to the last one. The loss of $3.4bn in home remittances nearly matches the upcoming debt repayments of $3.7bn during May-June. The amount is also equal to the ‘financing gap’ that Pakistan has bee
Shahzad Saleem is the chairman of the Nishat Chunian Group and the Pakistan Textile Council, a not-for-profit organisation created by Pakistan’s top 31 textile companies as a research, advocacy & impact acceleration platform for the textile and apparel industry. It has recently set up a national compliance institute in Islamabad and is working on the Generalised Scheme of Preferences facility from
Pakistan descended into a fresh round of political instability in April 2022 after Imran Khan, the then Prime Minister of Pakistan, was removed from office through a vote of no confidence in the parliament. The polycrisis that ensued in the aftermath of his ouster took twists and turns but largely remained under control until last week when Imran Khan was arrested from the veranda of the Islama
The auto industry has slammed the Federal Board of Revenue (FBR) for withdrawing the regulatory duty (RD) on the imports of luxury vehicles at a time when the country is facing a serious dollar crunch. In a letter written to the Additional Secretary Revenue Division regarding termination of RD on March 31, Pakistan Automotive Manufacturers Association (PAMA) Director General Abdul Waheed Khan e