Pakistan’s budget deficit is a major concern, with government expenditure soaring. The expenditure to GDP ratio is over 22%, compared to around 15% in Bangladesh. Last year, the budget deficit exceeded Rs13 trillion. This year, it is projected to be around Rs 11 trillion, despite the government’s initial estimate of Rs 6.5 trillion to Rs […]
According to the Forex Association of Pakistan (FAP), the buying and selling rates of the Dollar in the open market, however, were Rs 277.75 and Rs 280.5 respectively. The price of the Euro decreased by Rs 3.43 to close at Rs 299.52 against the last day’s closing of Rs 302.95, according to the State Bank […]
In a statement, the SBP said the central bank’s Monetary Policy Committee (MPC) had met earlier today and reviewed the current economic developments. The committee noted that underlying inflationary pressures are also subsiding amidst a tight monetary policy stance, supported by fiscal consolidation. At the same time, the MPC highlighted some upside risks to the […]
According to a fresh report by BBC, the increase in IT exports is a result of policy reforms and business-friendly policies introduced by the Special Investment Facilitation Council (SIFC). The report further said the stability of local currency and allowing freelancers to deposit foreign earnings into local bank accounts is the main factor of this […]
The National Savings has set an annual target of Rs 1.742 trillion for the year 2023-24, it is encouraging that 85 percent of the target has been achieved, and it is hoped that National Savings will surpass its annual target this FY 2023-24, the senior official of CDNS told APP on Monday. The CDNS surpassed […]
China has taken an insurmountable lead and now produces twice as many EVs as the US and the EU combined. Unable to compete, President Biden recently quadrupled tariffs on Chinese-made EVs to 100%. Similarly, the EU is deliberating levying 30-50% countervailing duties on Chinese EVs. However, unlike the US, the EU is observing due process […]
According to sources, the Ministry of IT has been allocated Rs 27.43 billion in the development budget, with Rs 6.28 billion for 15 new projects. The government has also proposed allocating Rs 21.15 billion for ongoing projects and Rs 3.5 billion for the Digital Economy initiative. Other notable allocations include Rs 1 billion for innovation […]
Brent crude futures gained 28 cents, or 0.4%, to $79.90 a barrel by 0427 GMT, and U.S. West Texas Intermediate crude futures were up 0.3%, or 26 cents, at $75.79 a barrel. On Friday, data showed the U.S. added more jobs than expected last month, leading investors to trim expectations for rate cuts, which helped […]
The Games Showcase comes at a crucial time for Xbox and Microsoft as the gaming industry faces a downturn and publishers grapple with softer sales, layoffs, and studio shutdowns. Microsoft showed off three gaming consoles including a disc-less version of the Xbox Series X and S consoles and a special edition of the Series X […]
Aviation Division and Pakistan Civil Aviation Authority (PCAA) officials briefed the foreign experts about the installation of the e-gates at Karachi, Islamabad, and Lahore airports. The installation of E-gates will eliminate the hassle of travelers as they don’t need to wait in queue to get boarding passes and can obtain their boarding cards through the […]
