PAKISTAN is experiencing its most severe economic crisis in recent history. However, as I have argued previously, this crisis is “a crisis like no other” (Dawn, May 2022). It is not just an economic meltdown, but a confluence of myriad and complex challenges in the political, governance and environment domains. With regards to the economy, the current episode is comparable in many ways to the e
The first month of the current fiscal year saw a decline of 14.55 per cent in exports to nine regional countries, mainly driven by a drop in shipments to China, data compiled by the State Bank of Pakistan showed. The country’s exports to Afghanistan, China, Bangladesh, Sri Lanka, India, Iran, Nepal, Bhutan and the Maldives dipped to $260.983 million — just 12.62pc of total exports of $2.068bn i
The rupee continued to strengthen against the dollar in the interbank market on Tuesday, rising 0.42 per cent to below 300, a barrier it crossed for the first time ever on Aug 24. According to the State Bank of Pakistan’s data, the rupee closed at 299.89 on Tuesday compared to 301.16 a day ago. In the open market, however, the rupee remained unchanged at 300 to the dollar. The local curre
Extreme heat and flooding could erase $65 billion in apparel export earnings from four Asian countries by 2030, as workers struggle under high temperatures and factories close, research from Schroders and Cornell University showed on Wednesday. The study also mapped out the supply chains of six unidentified global apparel brands operating in the four countries studied — Bangladesh, Cambodia, Pa
The Pakistan Stock Exchange (PSX) has directed the sponsors of Dewan Automotive Engineering Ltd (DAEL) to provide the rest of the shareholders with an option to sell their stakes to them within 90 days (up to Dec 11) at a PSX-determined price. The regulatory action demanding that the auto-part maker hold a compulsory share buyback follows its non-compliance of many regulations, particularly tho