Business confidence in Pakistan has improved by four percentage points, though it remains negative, as reflected in the 25th Wave of the Business Confidence Index (BCI) survey conducted by the Overseas Investors Chamber of Commerce and Industry (OICCI). The survey was conducted across Pakistan during March-April 2024. “The OICCI Business Confidence Index has shown some positive signs of econ
The real interest rate is now above 1,000 basis points in the wake of an unexpected fall in inflation to 11.76 per cent in May. The real interest rate is the difference between the nominal interest rate and the rate of inflation. Higher real interest rates can raise borrowing costs and force people to curb spending and borrowing. It can slow economic activity. On the other hand, higher ra
Pakistan recorded its highest monthly growth in exports in three years with a jump of almost 19pc in May 2024. The month-on-month growth rate of 18.76pc in dollar terms was the highest since June 2021, when the exports went up by 63.32pc. According to the Pakistan Bureau of Statistics data released on Monday, exports increased to $2.79 billion in May, a year-on-year rise of 27.08pc against
Pakistan has selected six companies qualified to bid to buy national carrier Pakistan International Airlines (PIA), the privatisation minister said on Monday. The announcement came a couple of weeks after Pakistan had extended the date for submitting expressions of interest. A total of eight companies and consortiums had expressed an interest. Air Blue, Arif Habib Corporation, Blue World Cit
As the National Electric Power Regulatory Authority (Nepra) on Monday notified Rs1.90 per unit additional cost to nationwide consumers for June, followed by 93 paise each in July and August, K-Electric piled up another fuel cost claim for April on top of its existing Rs18.6 per unit petition for the past nine months pending before the power regulator. In its fresh request to Nepra, KE presented