After a steep rise in wheat flour and sugar rates, consumers brave another challenge of paying more than double for various vegetables, while pulses despite a drop in wholesale rates being retailed at higher prices. For example, turrai (ridge gourd), lokki (bottle gourd) and karela (bitter gourd) prices have surged to Rs200 per kg from Rs80-100 a few days back, followed by bhindi (okra) Rs300 f
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