Business News
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Agriculture sector growth stays robust | The Express Tribune
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[ad_1] LAHORE: The agriculture sector of Pakistan has recorded a robust growth of 4.40% in fiscal year 2021-22, thereby surpassing the target of 3.5% and beating the growth of 3.4% in the previous year, said the Economic Survey of Pakistan 2021-22. Except for the staple crop, ie wheat, all other crops have shown an impressive…
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SBP’s forex reserves fall $497m to $9.2b | The Express Tribune
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[ad_1] KARACHI: The foreign exchange reserves held by the central bank decreased 5.10% on a weekly basis, according to data released by the State Bank of Pakistan (SBP) on Thursday. On June 3, the foreign currency reserves held by the SBP were recorded at $9,226.2 million, down $497 million compared with $9,722.9 million on May…
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IT exports surge to $1.9 billion, have potential to grow further | The Express Tribune
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[ad_1] KARACHI: Despite encouraging signs of export potential in the information technology (IT) sector and the government’s acknowledgment, the sector has fallen short of its export capacity. According to the State Bank of Pakistan (SBP) data, IT exports during July-March FY22 surged to $1.948 billion at a growth rate of 29.26% in comparison to $1.5…
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Power generation capacity expands 11.5% | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan’s electricity generation capacity increased by 11.5% and reached 41,557 megawatts in July-April 2021-22 compared to 37,261MW in the same period of previous fiscal year, revealed the Economic Survey of Pakistan 2021-22. The hydel energy share in the total installed capacity marginally fell to 24.7% year-on-year during the first 10 months of FY22.…
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Fresh data shows donkey population has increased in Pakistan
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[ad_1] A donkey poses in this undated photo. — YouTube/File ISLAMABAD: The population of donkeys has increased to 5.7 million during the previous fiscal year, according to the Economic Survey (PES) 2021-22 released today. The data showed that the population of donkeys has been increasing steadily during the past few years as there were 5.5m…
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Ecnomic Survey 2021-22: Pakistan’s economy grew 6%, says Finance Minister Miftah Ismail
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[ad_1] (L to R) Power Minister Khurram Dastagir, State Minister for Finance Ayesha Ghous Pasha, Finance Minister Miftah Ismail and Planning Minister Ahsan Iqbal, Finance Secretary Hamed Yaqoob Sheikh and Economic Adviser Dr Imtiaz Ahmad unveil the Pakistan Economic Survey. Photo: Ministry of Finance ISLAMABAD: Finance Minister Miftah Ismail on Thursday unveiled the Economic Survey…
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India rupee hits record low amid sustained rise in global crude | The Express Tribune
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[ad_1] MUMBAI: The Indian rupee hit a record low against the US dollar on Thursday as the relentless surge in global crude oil prices raised concerns about a sustained rise in imported inflation, while choppy domestic shares also hurt. The partially convertible rupee was trading at 77.79/80 per dollar after touching a record low of 77.81.…
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Finance Minister Miftah Ismail unveils Pakistan Economic Survey | The Express Tribune
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[ad_1] Finance Minister Miftah Ismail unveiled the Pakistan Economic Survey for Financial Year 2021-22 on Thursday as he underlined the need for “sustainable economic growth” in the upcoming financial year. The survey was revealed by the finance minister alongside Planning Minister Ahsan Iqbal, State Minister for Finance Ayesha Ghous Pasha, and Power Minister Khurram Dastgir…
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Moody’s affirms B3 ratings of 5 Pakistani banks, changes outlook to negative
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[ad_1] A sign for Moody’s rating agency stands in front of the company headquarters in New York. Photo: AFP/file KARACHI: Rating agency Moody’s on Thursday affirmed the B3 long-term deposit ratings of five leading Pakistani banks and changed their outlook to negative from stable. The banks are Allied Bank Limited (ABL), Habib Bank Ltd. (HBL),…
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Miftah invites UAE investment | The Express Tribune
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[ad_1] ISLAMABAD: Federal Minister for Finance and Revenue, Miftah Ismail on Wednesday assured full support by present government to Ambassador of the United Arab Emirates, Hamad Obaid Ibrahim Salim Al-Zaabi and offered him welcoming sentiments for pursuing new investments in Pakistan. Talking to UAE’s Ambassador, who called on him, the finance minister highlighted the long-standing…
