Tribune
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With demand growth, big industries pick up momentum | The Express Tribune
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[ad_1] KARACHI: Pakistan’s large industries like food, fertiliser, textile and automobile maintained a robust growth for the second consecutive fiscal year in FY2021-22, as the supportive measures taken by the ousted PTI government created renewed demand for goods in the country. Economic Survey 2021-22 said that accommodative fiscal and monetary measures continued in FY22 which…
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PSX turns Asia’s third worst performing market | The Express Tribune
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[ad_1] KARACHI: Pakistan Stock Exchange (PSX), which had won the title of Asia’s best performing stock market in August 2020, took a U-turn and became the third worst performing market in the region amid the boiling political temperature and melting economy. Investors witnessed the wipeout of 16.27% (or Rs1.35 trillion) of investment at the PSX,…
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PTI govt gave Rs5.2tr tax breaks in four years | The Express Tribune
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[ad_1] ISLAMABAD: The previous government of Pakistan Tehreek-e-Insaf (PTI) gave away a record Rs1.76 trillion in tax exemptions to the affluent and foreign investors during the outgoing fiscal year, taking the total cost of such exemptions in four years to a whopping Rs5.2 trillion. The Pakistan Economic Survey 2021-22 revealed that there was a 34%,…
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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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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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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…
