Business News
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High costs restrict textile exports | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan’s textile exports marginally increased by 3% and reached $1.3 billion in March 2024 compared to the same month of last year, according to provisional data compiled by the All Pakistan Textile Mills Association (Aptma). Last year in March, textile manufacturers had exported goods worth $1.26 billion. When compared with exports of $1.41…
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Customs, motorway police combat smuggling | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan Customs and the Motorway Police have signed new protocols to check vehicles on the motorways amid the government’s increased focus on the anti-smuggling drive. The Standard Operating Procedures ensure the implementation of both Customs laws and the National Highways Safety Ordinance-2000 through a coordinated approach. Ayesha Wani signed the protocol on behalf…
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Industrialists warn of rising production costs | The Express Tribune
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[ad_1] KARACHI: Business leaders have warned that a significant surge in petrol prices would lead to price increases across all commodities and products, adding 5% to the cost of all industrial production. Speaking to The Express Tribune, they expressed concern that the tough conditionalities imposed by the International Monetary Fund (IMF) would burden the nation,…
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World Bank projects Pakistan’s economic growth at just 1.8% in FY24
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[ad_1] An undated image of World Bank Headquarters in Washington DC. — AFP With nearly 40% of Pakistan’s population slipped below the poverty line amid skyrocketing inflation, the World Bank (WB) on Tuesday projected cash-strapped nation’s economy to grow by only 1.8% in the current fiscal year ending June 2024. According to World Bank’s latest…
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Real interest rate turns positive | The Express Tribune
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[ad_1] KARACHI: Pakistan’s real interest rate – the current interest rate minus the inflation reading – has entered positive territory on a spot basis after a gap of 37 months on Monday, increasing the probability that the central bank will make the first cut in its policy rate in the next monetary policy scheduled for…
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Pakistan, Japan pledge to strengthen trade ties | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan and Japan pledged to enhance trade relations and collaboration during a meeting between Ambassador WADA Mitsuhiro and Federal Minister for Commerce, Jam Kamal Khan. They discussed ways to strengthen trade relations and mutual trust between Japan and Pakistan, as per a press release issued here. Mitsuhiro congratulated Khan on his recent portfolio,…
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India hydropower output records steepest fall | The Express Tribune
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[ad_1] SINGAPORE: India’s hydroelectricity output fell at the steepest pace in at least 38 years during the year ended March 31, a Reuters’ analysis of government data showed, as erratic rainfall forced further dependence on coal-fired power amid higher demand. The 16.3% drop in generation from the country’s biggest clean energy source coincided with the…
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Zardari urges quick trade deal with Turkmenistan | The Express Tribune
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[ad_1] ISLAMABAD: President Asif Ali Zardari called for an early finalisation of the Transit Trade Agreement with Turkmenistan to further boost bilateral cooperation between the two brotherly countries. During a meeting with the Ambassador of Turkmenistan to Pakistan, Atadjan Movlamov, President Zardari highlighted that the agreement, once signed, would help expand trade, promote regional connectivity,…
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Inflation falls to two-year low of 20.7% in March | The Express Tribune
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[ad_1] ISLAMABAD: Inflation fell to nearly two years low of 20.7% in March despite seasonal spurt in perishable food items, beating the government’s expectations by a wide margin and putting a question mark on the central bank’s policy to maintain record high interest rates. The Pakistan Bureau of Statistics (PBS) reported on Monday that the…
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Petrol price jacked up by Rs9.66 per litre ahead of Eid ul Fitr
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[ad_1] A fuel station worker refills a car’s petrol tank. — AFP/File The price of per litre petrol has been jacked up by Rs9.66 per litre for the next 15 days following a surge in international crude rates. However, the price of high-speed diesel (HSD) has been slashed by Rs3.32 per litre. In a notification…
