Pakistan’s exports to nine regional countries shrank 11.93 per cent in the first half of FY23 mainly driven by a drop in shipments to China, data released by the State Bank of Pakistan showed on Monday. The country’s exports to Afghanistan, China, Bangladesh, Sri Lanka, India, Iran, Nepal, Bhutan and the Maldives dipped to $1.897 billion — just 13.31pc of Pakistan’s total exports of $14.25bn in
Rupee devaluation against the US dollar over the last few days followed by massive increase in diesel rate has started making a negative impact on commodity prices besides jacking up the cost of living. With the holy month of Ramazan approaching, stakeholders fear an unusual situation in prices of imported finished and raw material in case landed costs continue to crawl up due to losing strengt
The development of C-5, which is the fifth unit of the Chashma Nuclear Power Generating Station, has hit a snag because of the reported refusal by the Ministry of Finance to furnish a sovereign guarantee, sources told Dawn on Monday. The Chinese partner has agreed to provide financing for up to 85 per cent of the $3.7 billion nuclear power plant having a nameplate capacity of 1,200 megawatts, s
Oil prices extended losses on Tuesday as the threat of further interest rate increases and continued Russian crude flows cancelled out demand recovery expectations from China. March Brent crude futures fell five cents to $84.85 per barrel by 0415 GMT, while the more heavily traded April contracts fell by 32 cents or 0.38 per cent to $84.18 a barrel. US West Texas Intermediate (WTI) crude fut
The government may have to withdraw energy subsidies to big export industries, besides cutting non-salary, non-essential civil and security costs as part of harsh reforms required to obtain the International Monetary Fund’s consent for an economic bailout that ensures soft landing for the poor and vulnerable. Senior government officials said IMF mission chief for Pakistan Nathan Porter had alre