In recent years, the world has seen a rapid shift towards digital transactions, with countries across the globe racing to modernize their financial systems. Pakistan, one of the world’s largest unbanked populations, has long been considered a challenging market for digital payment companies. However, the tide seems to be turning as Visa, one of the […]
Pakistan’s inflation landscape has marked a significant turning point with the Sensitive Price Indicator (SPI) reaching a three-year low. For the week ending September 5, 2024, the SPI recorded a notable decrease to 14.07% compared to the same week last year. This milestone reflects a substantial easing in inflation, largely driven by reductions in energy […]
Pakistan is renegotiating its contracts with independent power producers (IPPs) to address soaring electricity tariffs that have become unsustainable for consumers, according to Energy Minister Awais Ahmad Leghari. The steep power costs have sparked social unrest and forced industries to close in Pakistan’s struggling $350 billion economy, which has faced multiple contractions in recent years, […]
Islamabad: A high-level Inter-Ministerial Committee (IMC) on the petroleum sector, chaired by Foreign Minister and Deputy Prime Minister Senator Ishaq Dar, has directed the Petroleum and Power Divisions to reassess the settlement plan for circular debt. This evaluation is expected to explore the potential for cash and non-cash adjustments to help clear up balance sheets, […]
Lahore, Pakistan – Dewan Motors, a prominent player in the country’s automotive industry, has taken a historic step by securing Pakistan’s first-ever electric vehicle (EV) manufacturing certificate. This certification is not just a milestone for Dewan Motors but also a pivotal moment for Pakistan’s automotive sector. It signifies the country’s entry into the rapidly expanding […]
Karachi, Pakistan – As global trends push towards a greener future, Pakistan is stepping up its efforts in the electric vehicle (EV) sector. BYD Pakistan, a joint venture between Chinese electric vehicle giant BYD and Pakistani automotive company Mega Motors, has made a bold prediction: by 2030, electric vehicles could make up as much as […]
Lahore, Pakistan — As Pakistan strengthens its foreign exchange reserves in an effort to stabilize the economy, Citigroup has tempered expectations for any significant appreciation of the Pakistani rupee. Despite the promising buildup in foreign reserves, which is designed to shield the economy from a potential balance of payments crisis, several factors are at play […]
The Pakistani auto industry in August 2024 witnessed a mix of gains and declines, offering a glimpse into the ongoing challenges and opportunities in the market. Overall, the industry saw a 7% year-over-year (YoY) increase in sales, hitting 6,900 units, largely driven by strong performances from Indus Motors Limited (INDU) and Honda Atlas Cars (HCAR). […]
Pakistan’s central government debt has been on a relentless rise, reflecting deeper fiscal challenges that the country faces. As of July 2024, the debt stands at an alarming Rs69.6 trillion, marking a significant 12.67% increase compared to the same time in 2023. This steady climb in national debt is a clear indication that the country […]
Pakistan’s central government debt has reached an unprecedented level, standing at Rs69.6 trillion as of July 2024, marking a significant 12.67% increase from the previous year. This consistent upward trajectory in debt is a stark reflection of the country’s ongoing fiscal challenges. The latest data from the State Bank of Pakistan (SBP) underlines the pressing […]
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