Business

ISLAMABAD: Pakistan’s exports of non-textile value products saw a contraction in the first half of 2023-24 from a year ago. The negative growth was observed despite an increase in the country’s main exports of textiles and clothing in the same period, according to data compiled by the Pakistan Bureau of Statistics. In the July-December period, the exports of leather garments …

Shares at the Pakistan Stock Exchange (PSX) traded in the green on Tuesday, gaining more than 500 points amid reports about the government’s plan to settle down circular debt. According to the PSX website, the KSE-100 index climbed 473.82, or 0.74 per cent, to stand at 64,413.23 at 12:58pm from the previous close of 63,939.41. The index continued its upward trajectory …

ISLAMABAD: The World Bank has closed its locust emergency and food security (Leaf) project, for which it had approved $200 million, citing the performance of the project as highly unsatisfactory. The project was approved in July 2020 and it was meant to control the locust outbreak, restore livelihoods in locust-affe­cted areas, and stren­gthen national food security and monitoring in the country. Informed …

In the corridors of power in Pakistan, a financial challenge lurks beneath the surface — an issue stemming from unnecessary expenditures and an abundance of nonproductive government employees. As politicians take pride in appointing their favourites to public sector roles, the burden ultimately falls on the taxpayer, who remains voiceless in the process. Yet no one looks at what the …

ISLAMABAD: Building on the success of the first phase, the International Labour Organisation (ILO) has launched the second phase of the programme aimed at promoting and realising Fundamental Principles and Rights at Work (FPRW) in the cotton sector. Funded by Spanish multinational clothing company Industria de Diseno Textil (Inditex), the ILO launched the second phase of the FPRW project in …

ISLAMABAD: The caretaker government is rapidly advancing plans to restructure the country’s revenue machinery, with an ordinance aimed at reducing reliance on human discretion and enhancing the stagnant tax-to-GDP ratio likely to be promulgated within the next fortnight. Informed sources said the caretaker government and other key stakeholders, except the revenue staff, were determined about the restructuring and reorganisation of the federal …

Ants truly are extraordinary creatures, with behaviour that is particularly remarkable in adversity. When faced with floods, they don’t falter; they float. Forming rafts with their bodies, they expertly navigate waters that would otherwise drown them. This ingenuity offers a valuable lesson in resourcefulness for Pakistan’s policymakers as they steer through the country’s tough economic landscape. The Pakistani economy is …

KARACHI: Caretaker Finance Minister Dr Shamshad Akhtar has said that the country’s economic growth will rebound by 2-2.5 per cent in the current fiscal year. The economic recovery process has boosted business confidence and market sentiments while a bullish trend has been prevailing in the Pakistan Stock Exchange (PSX) for the last five months, she said. In a virtual address …

ISLAMABAD: A modest increase in foreign direct investment (FDI) flows in 2024 appears possible, as projections for inflation and borrowing costs in major markets indicate a stabilisation of financing conditions for international investment deals, says the Investment Trends Monitor. Published by the UN Conference on Trade and Development (UNCTAD), the monitor, however, says significant risks persist, including geopolitical risks, high …

KARACHI: Tensions with Iran and pre-poll uncertainties kept investors unsettled throughout the outgoing week despite the influx of positive economic news as a result the benchmark KSE 100-share index came under intense selling pressure and settled well below 64,000 level. After suffering losses for four consecutive sessions due to simmering border tensions with Tehran over tit-for-tat strikes on the terrorist hideouts on …