The World Bank on Tuesday said that it expected economic activity in the country to “remain subdued”, adding that the GDP was expected to grow at 1.8 per cent in the current fiscal year. “Pakistan is expected to continue facing foreign exchange liquidity issues due to the persistent trade deficit and limited access to external financing,” said the World Bank’s latest report titled “Pakistan Dev
The Ministry of Industries and Production has directed Millat Tractors Ltd (MTL) to sell 954 tractors to farmers as per the contract and not supply these vehicles to any third party. The ministry has written to MTL after the Sindh High Court’s order regarding its contractual obligation to sell these tractors to the original buyer. The SHC has issued an order relating to the supply of tracto
Global oil benchmark Brent on Tuesday rose above $89 a barrel for the first time since October, albeit briefly, as oil supplies faced fresh threats from Ukrainian attacks on Russian energy facilities and escalating conflict in the Middle East. Brent futures for June delivery were up $1.35, or 1.5 per cent, at $88.76 a barrel by 11:40 a.m. EDT (1540 GMT) after touching a peak of $89.08. US We
With sugar prices already up 42 per cent over last year, the influential sugar industry has started lobbying for major exports – at least one million tonnes – to “ensure payments to farmers”. Informed sources said the sugar millers had already activated their political channels in the new government to secure permission for sugar exports and some procurements by the government for strategic res
Construction activities remained slow as local cement despatches fell year-on-year by 0.62 per cent in March and 3.81pc in 9MFY24, respectively. Local sales eased to 3.336 million tonnes from 3.357m tonnes in March 2023, showing a decline of 0.62pc. Export despatches, however, increased by 38pc to 605,142 tonnes from 438,433 tonnes a year ago. As a result, the overall cement despatches (loca