Forex Up to $14.415 Billion
Pakistan’s foreign exchange reserves witnessed a modest increase of $30.8 million over the past week, according to a report released by the State Bank of Pakistan (SBP). This brings the country’s total liquid foreign exchange reserves to $14.415 billion as of June 14, 2024, compared to $14.384 billion the previous week. The SBP’s reserves […]
Pakistan Stock Market Makes a Splash: PSX Surpasses Historic 78,000 Mark!
The Pakistan Stock Exchange (PSX) is riding a wave of optimism, reaching a record-breaking high on Thursday. The KSE-100 Index soared past the 78,000 milestone for the first time, closing at a staggering 78,213 points. This incredible jump represents a 1.93% increase compared to the previous week’s closing of 76,706.77 points. The market’s positive […]
Breaking: Railway to Upgrade Fleet with 820 New Wagons
Pakistan’s railway system is chugging towards a much-needed modernisation. China’s partnership with Pakistan Railways promises a major efficiency upgrade. By the end of the 2025-26 fiscal year, an impressive 820 new wagons will be integrated into the network. This reflects Pakistan Railways’ dedication to modernisation and setting a new standard for the country’s transportation sector. […]
Big Things Ahead: Pakistan’s Rs18.9tr Federal Budget
Pakistan’s Finance Minister, Muhammad Aurangzeb, unveiled a Rs 18.9 trillion budget for the upcoming fiscal year, aiming for 3.6% GDP growth. This ambitious plan seeks to balance major growth with fiscal consolidation. The budget boasts a total outlay of Rs 18.9 trillion, a 30% increase from the previous year. Revenue is projected at Rs […]
GDP Up by 2.38% in FY 2023-24
Pakistan is bouncing back stronger than ever. The GDP growth of 2.38% in FY2023-24 is attributed to careful policy management, renewed international support, recovery in major trading partners’ economies, and remarkable success in the agricultural sector. In nominal terms, the economy grew significantly, reaching Rs 106.045 trillion, a 26.4% increase year-on-year. This translated to […]
Rs 3.792 Trillion National Development Plan Unveiled
Pakistan’s National Economic Council (NEC) has approved a significant boost to public investment, aiming to accelerate economic growth in the next fiscal year. The national development plan, valued at Rs3.792 trillion, is evidence of a rising economy. This expansionary approach involves a 47% rise in the federal Public Sector Development Programme (PSDP) to Rs1.4 […]
First Interest Rate Reduction in 4 Years
The State Bank of Pakistan’s (SBP) decision to lower the key policy rate by 150 basis points, taking it to 20.5%, reflects a calculated approach. This move comes on the back of a significant decrease in inflation. May 2024 saw inflation fall to 11.8%, a substantial improvement from its multi-decade high of 38% in May […]
Pakistan Sees A 68% Increase in IT Export’s Golden Age
Pakistan’s IT sector is experiencing a golden age, with exports hitting record highs and the future brimming with potential. In April 2024 alone, the nation witnessed a staggering 62% year-over-year increase in IT exports, reaching a monumental US$310 million. This surpasses the previous record of $306 million set just a month earlier, showcasing the sector’s […]
Agricultural Sector Abloom: Rs. 54.49 Million Granted For Crucial Projects
Pakistan’s agricultural sector is experiencing a surge of positive developments, promising a bright future for the country’s economy and food security. The Economic Coordination Committee (ECC) recently approved a significant investment of Rs. 54.49 million for the Islamabad Capital Territory (ICT) to execute crucial agricultural projects. This funding will be directed towards initiatives increasing […]
Trade Deficit Shrinking — Disparity between Imports and Exports down 15.25% YoY
Previously recorded at $25.64 billion in the July to May period of 2022 – 2023, the trade deficit is down to $21.73 billion. Exports, a source of revenue, exhibited robust growth, increasing by 10.65% year-on-year to reach $28.07 billion compared to $25.37 billion in the corresponding period of the previous fiscal year. This encouraging […]