The production of goods at large-scale manufacturing industries (LSMI) such as food, textile, fertiliser and construction material dropped for the second consecutive month, contracting to around 126 on the Quantum Index of Manufacturing (QIM) for February 2024. Pakistan Bureau of Statistics (PBS) reported on Tuesday that the LSMI reading dropped 4.14% to 126.1 in February when compared with Jan
Federal Minister for Finance and Revenue Muhammad Aurangzeb, leading a Pakistani delegation at the International Monetary Fund (IMF) and World Bank 2024 Spring Meetings in Washington DC, on Tuesday highlighted the country’s roadmap to address economic challenges and propel the economy toward sustainable growth. During an interactive session with the Atlantic Council’s Geo-Economics Centre and Sout
Karachi Gateway Terminal Limited (KGTL) has planned an investment of $75 million in the multipurpose and clean bulk terminal in the initial two years to boost the terminal’s capabilities. The terminal operator aims to make the initial investment to cover upfront fees, prepayments, the cost of superstructure and equipment. Additionally, a capital injection of $100 million has been planned ove
Less than 50 retailers have so far voluntarily registered with the Federal Board of Revenue (FBR) and only two weeks remaining before the deadline expires, underscoring the challenges facing the government in registering all retailers in six major cities. Despite a mass campaign and Prime Minister Shehbaz Sharif’s focus on expanding the tax net to include traders, the government’s drive has thu
The International Monetary Fund (IMF) has kept Pakistan’s economic growth forecast unchanged at 2% but increased the inflation projection to nearly 25% for this fiscal year. This adjustment comes as the country undergoes another round of increases in utility and fuel prices. In its World Economic Outlook report released on the sidelines of the spring meetings, the global lender also revised the