Business

ISLAMABAD: Merchandise exports maintained a bullish trend for the sixth consecutive month as shipments grew year-on-year by 17.54 per cent to $2.57 billion in February, indicating a recovery of export-led industrial growth. According to data released by the Pakistan Bureau of Statistics on Friday, the exports increased by 9pc to $20.35bn in the first eight months of FY24 from $18.67bn …

KARACHI: The latest trade and inflation data has fostered a renewed sense of optimism among financial markets, researchers and bankers, sparking expectations of potential monetary easing and economic growth acceleration. The trade deficit shrank by 30 per cent during the first eight months (July to February) of the current fiscal year, while inflation unexpectedly fell by a significant margin from …

ISLAMABAD: The automobile vendor industry is facing tough challenges due to low production and a surge in the import of used cars, but the potential growth in the auto sector, driven by new entrants, is expected to provide a boost in the near future. Auto sector vendors urged the government to ensure policy consistency, stating that the supply and demand …

ISLAMABAD: Inflation, measured by the Consumer Price Index (CPI), decelerated to 23.06 per cent year-on-year in February from 28.34pc in the preceding month due to a slight decrease in the prices of food products. It is the lowest reading in 20 months, down from a peak of 37.97pc in May 2023. Until December 2023, the headline inflation had consistently hovered …

ISLAMABAD: Because of exchange rate gains over the past month, the Oil and Gas Regulatory Authority (Ogra) on Friday slightly reduced the price of liquefied petroleum gas (LPG). Both local and imported LPG rate was reduced by 81 paise per kg, bringing the cost of 11.8kg domestic cylinder down by Rs9.51 or 0.31pc for March. In a notification, Ogra set …

ISLAMABAD: A committee of experts has recommended to the Securities and Exchange Commission of Pakistan (SECP) to improve transparency and efficiency in the manner of conducting shareholder meetings, election of directors, proxies, voting process and monitoring mechanism. The committee was constituted by the SECP for a comprehensive review of the manner of conduct of shareholder meetings by listed companies and …

ISLAMABAD: With inflation at about 29 per cent, Caretaker Finance Minister Dr Shamshad Akhtar, in her departure note, is leaving behind a piece of advice to the incoming government to stay the course, be prudent and reach immediately an agreement with the International Monetary Fund (IMF) for a new medium-term programme to anchor difficult reforms. Claiming a series of gains over the …

KARACHI: Extending a yet another major relief to cash-strapped Islamabad, the Chinese government has rolled over its $2 billion loan, which was due in March, for one year. The finance ministry on Thursday confirmed that China has accepted Pakistan’s request for the rollover, considering the country’s current inability to repay the loan. Most of the foreign exchange reserves of the State Bank …

The Pakistan Stock Exchange (PSX) continued its upward journey on Friday as shares gained over 700 points, with analysts attributing the positive momentum to an anticipated decline in inflation and clarity on the political front. The KSE-100 index made decent gains throughout the day and closed at 65,325.68 points, up by 747.16 or 1.16 per cent from the previous close …

ISLAMABAD: A four-member independent inquiry committee on ‘Abject Failure — Illegal Overbilling’ confirmed the power regulator’s overcharging allegations against all the distribution companies (Discos) across the country but absolved them of ‘deliberate and mala fide’ fleecing while shifting some blame on to the then PDM-led coalition government’s decision-making. All the members of the inquiry committee who have either worked with …