The disparity in the value of the Pakistani currency at the interbank and open markets further widened to Rs2.27 on the second consecutive working day amid political uncertainty. This fresh increase in the gap on Wednesday strengthened earlier signs of market volatility returning to the currency. The difference stretched to 0.81% after the domestic currency maintained a downturn in open market
The latest data from the State Bank of Pakistan has revealed a 12.54% decline in Telecommunications, Computer, and Information Technology exports for January 2024 compared to the previous month. The figures, released on Monday, indicate a decrease from $303 million in December 2023 to $265 million in January 2024. However, on a year-on-year basis, there has been a notable increase of 39.47% in
Rising gas and electricity tariffs threaten to shutter industries, drive up unemployment, and worsen inflation, lamented distressed industrialists. Speaking to The Express Tribune, President of the Federal B Area Association of Trade and Industry (FBATI), Syed Raza Hussain highlighted the impact of the gas tariff increase on small and medium-sized entrepreneurs already grappling with production
Islamabad has engaged Tehran by committing to complete the first phase of the 80-kilometer Iran-Pakistan (IP) gas pipeline project within Pakistan’s territory to avoid a looming $18 billion penalty. According to reports, Iran has granted an extension in the deadline of the IP gas pipeline project by 180 days until September 2024. Tehran has granted this extension in a bid to avoid litigation in
Pakistan’s balance of the current account failed to stay in surplus for the second successive month, hitting a six-month high deficit of $269 million in the wake of a month-on-month increase in the import of goods and services in January 2024. Besides, foreign investors – mainly China – aggressively pulled out investments from some power projects running in Pakistan, resulting in an outflow of