Pakistans
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Pakistan’s SOEs losses hit Rs905 billion in FY23
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[ad_1] A repersentational image of a graph. — Unsplash Pakistan’s state-owned enterprises (SOEs) losses hit a staggering Rs905 billion in the fiscal year 2022-23, showing a 23% swell compared to the previous fiscal year of 2021-22. It was revealed in a report titled “Aggregate Annual Report on Federal State-Owned Enterprises (SOEs) for Financial Year 2023,”…
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Pakistan’s inflation to decline in FY25: Fitch
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[ad_1] The headquarters of Fitch Ratings Ltd. stands in the Canary Wharf business and shopping district in London, UK. — AFP As Pakistan prepares to enter a new International Monetary Fund (IMF) programme, Fitch Ratings has predicted a drop in inflation and interest costs in the country during FY25. The rating agency, in its statistical…
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Challenging crosswinds: Pakistan’s trade pattern | The Express Tribune
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[ad_1] KARACHI: The latest indicators of external trade, released by the Pakistan Bureau of Statistics (PBS), show a continuing decline in trade deficit in the first 11 months of FY24, driven by rising exports and decreasing imports. The trade deficit, reported at $21.7 billion, decreased by 15.3% year-on-year, while exports increased by 10.7% and imports…
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Pakistan’s fiscal policy at a crossroads | The Express Tribune
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[ad_1] ISLAMABAD: Fiscal policy in Pakistan is usually far from a fine balancing act and is more of a reckless feat. It has long been marked by a contentious debate between austerity and stimulus measures – with the government oscillating between these two approaches, often thoughtlessly. Thanks to these policies, the past three years have…
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Saudi crown prince gives nod to accord with Pakistan’s spy agencies against terrorism
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[ad_1] Saudi Crown Prince and Prime Minister Mohammed bin Salman (centre) chairs a cabinet meeting on May 21, 2024. — Saudi Press Agency Saudi Arabia’s Crown Prince Mohammed bin Salman (MBS) on Tuesday approved a cooperation agreement between the Presidency of State Security in the kingdom and the military intelligence agency in Pakistan to combat…
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Pakistan’s IT exports jump 62% to $310 million in April
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[ad_1] A representational image of a man using a mobile phone. —Pixabay/File Pakistan’s IT export remittances jumped to a record $310 million in April 2024 from $191 million in the same month last year, sercuring a 62.3% year-on-year (YoY) surge, official data showed on Monday. The significant increase underscores the rapid growth of Pakistan’s ICT…
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UN projects Pakistan’s economy to grow by 2% in 2024 | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan, which faces significant economic challenges, is expected to have “modest economic growth,” with its Gross Domestic Product (GDP) projected to expand by 2 per cent in 2024, according to a United Nations report. Noting that Pakistan had entered into a Stand-by Arrangement with the International Monetary Fund (IMF) worth $3 billion, the…
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Pakistan’s debt soars to record Rs81tr | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan’s total debt and liabilities increased at a double-digit pace to a new record of nearly Rs81 trillion during the past year, as the country grapples with finding new sources of financing to meet its growing debt servicing needs due to junk credit ratings. According to the State Bank of Pakistan (SBP), Pakistan’s…
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Pakistan’s CPI inflation hits 17.3% in April — lowest since May 2022
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[ad_1] Women check rice prices at a main wholesale market in Karachi. — AFP/File Pakistan’s Consumer Price Index (CPI) based inflation rate came in at 23-month low of 17.3% year-on-year in April, latest numbers released by Pakistan Bureau of Statistics (PBS) showed. “This is the lowest reading in the last 23 months (after May 2022),”…
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IMF board likely to take up Pakistan’s case for release of last tranche
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[ad_1] This file photo taken on January 26, 2022, shows the seal for the International Monetary Fund (IMF) in Washington, DC. — AFP ISLAMABAD: The International Monetary Fund (IMF) Executive Board meeting is expected to discuss Pakistan’s request to release the $1.1 billion last tranche of the Stand-by Arrangement (SBA) today, Geo News reported citing…
