Pakistan’s external account improved considerably during July-March FY24 as the current account deficit (CAD) narrowed down significantly by 87.5 per cent to $0.5 billion compared to $4.1bn last year,” reported the Economic Survey 2023-24 on Tuesday. The financial account also witnessed net inflows of $4.2bn, mainly augmented by inflows from friendly countries and official inflows, in sharp con
While the Economic Survey FY24 paints a dismal production picture, the local assemblers must be jubilant since sales of cars, light commercial vehicles (LCVs), jeeps, and pickups in May 2024 touched a 17-month high at 10,949 units, showing a jump of 100 per cent year-on-year and 4pc month-on-month. A drop in prices in some variants helped assemblers witness a recovery in sales despite expensive
Cash-strapped Pakistan witnessed the highest-ever single-year increase in tax exemptions or concessions, surging by 73.24 per cent or Rs1.64 trillion in the outgoing fiscal year. The Pakistan Economic Survey 2023-24, released by Finance Minister Muhammad Aurangzeb on Tuesday, showed that the Federal Board of Revenue (FBR) doled out a record Rs3.879tr in FY24 compared to Rs2.239tr in FY23. The c
As many as 4.5 million individuals are unemployed in the country, with the youth aged 15-24 having the highest unemployment rate of 11.1 per cent, according to the Pakistan Economic Survey 2023-24 released on Tuesday. These figures are based on the 2020-21 Labour Force Survey, after which no employment survey has been conducted during the last three years, highlighting the apathetic attitude of
The stock market on Monday continued its losing streak for the sixth straight day ahead of the monetary policy announcement later in the evening and persisting gloomy investor sentiments associated with challenging budgetary proposals in line with IMF conditions to secure another bailout. Ahsan Mehanti of Arif Habib Corporation said stocks closed under pressure amid pre-budget uncertainty and c