Large-scale manufacturing (LSM) experienced a year-on-year negative growth of 1.09 per cent in the first month of the current fiscal year, data released by the Pakistan Bureau of Statistics showed on Monday. On month-on-month, it witnessed a steeper contraction of 3.62pc in July. The decline in LSM can primarily be attributed to a slowdown in production within the textile and clothing sector
As imports are allowed, the mobile phone manufacturing units have resumed their production, currently satisfying up to 90 per cent of the country’s demand for phone sets. Pakistan Bureau of Statistics (PBS) data showed mobile phone imports surged 77pc year-on-year to $179.47 million during July-August of 2023-24. Pakistan Mobile Phone Manufacturers Association (PMPMA) Senior Vice Chairman Mu
The crackdown against illegal currency dealers has kept the exchange rate under control so far as the dollar lost in both the open and interbank markets. The State Bank reported the closing price of dollar as Rs294.90, noting a depreciation of Rs1.05. The dollar was priced as Rs295.95 a day earlier. Since the peak of Rs307, the dollar has lost Rs12 in the inter-bank market while the day-to-d
The caretaker government on Tuesday asked the provincial governments to take administrative measures to keep a check on profiteering by the market players and to maintain a reasonable gap between wholesale and retail prices of essential food items and consumer products. The decision was taken at a meeting of the Economic Coordination Committee (ECC) of the cabinet presided over by caretaker fin
Stocks closed higher on Monday led by oil companies amid surging global crude prices as well as the rupee’s recovery against the dollar. Arif Habib Corporation analyst Ahsan Mehanti said the decision by the State Bank of Pakistan to maintain the status quo over the policy rate, upbeat data on cement sales, which rose 37 per cent in August, and expanding banking spreads played the role of a cata