Prime Minister Shehbaz Sharif on Thursday declared the downward trend of inflation as “welcome news” for the people, saying that inflation falling towards the lowest level in two years was a sign of improvement in the economy. Consumer price inflation slowed to 17.3 per cent in April from a year earlier, data from the Pakistan Bureau of Statistics (PBS) showed today, the lowest reading in nearl
In a positive development, the State Bank of Pakistan’s (SBP) foreign exchange reserves increased by $25 million, reaching $8.006 billion by the end of the week on April 26. While the central bank did not disclose the specific sources of inflow that bolstered its forex holdings, industry experts suggest that the SBP’s typical strategy involves purchasing dollars from the interbank market to saf
The Federation of Pakistan Chambers of Commerce and Industries (FPCCI) urged the federal government on Thursday to avoid harassing the private sector for timely importing wheat to bridge the demand-supply gap. The FPCCI reacted to the government’s claim that the interim setup permitted the private sector to import wheat without a rational justification. The FPCCI supported the private sector’s
Hinting at calling the 13th Joint Cooperation Committee (JCC) of the CPEC to meet on May 22-23, the government is expected to increase by over a quarter the Public Sector Development Programme (PSDP) for the next fiscal year, notwithstanding struggling development spending this year amid IMF-backed fiscal consolidation and stabilisation outlook. Informed sources told Dawn that the Ministry of P
The exports of merchandise rose year-on-year by 10.02 per cent in April after a slowdown in growth in the previous month, according to data released by the Pakistan Bureau of Statistics on Thursday. Export proceeds increased by double-digits since December before slowing in March. However, the exports shrank 9pc month-on-month. In absolute terms, exports reached $2.35 billion in April from $2.