All posts tagged "economy"
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774BusinessPakistan’s Efforts To Restore Its Economy: Its Promise And Risks
Pakistan seemed to be heading toward a disastrous economic disaster in 2023. The IMF had to halt loan payments under a loan agreement...
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3.3KPakistan
‘Fake News’: Information Ministry Says No Ban On Rs5000 Note
After a fake circular bearing the letterhead of the Finance Division went viral on social media, the Ministry of Information and Broadcasting...
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3.2KPakistan
PIA Restructuring: PM Directs To Submit Plan At Earliest
Anwaarul-Haq Kakar, the caretaker prime minister, instructed the relevant authorities to present a comprehensive plan for the restructuring of PIA to the Economic...
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731Business
Saudi Arabia To Invest $25 bln In Pakistan: PM Kakar
Saudi Arabia made a significant announcement outlining its intentions to invest an enormous $25 billion in Pakistan, making this the largest investment...
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3.3KPakistan
COAS Munir Witnesses Field Fire, Battle Drills Near Jhelum
General Syed Asim Munir, the Chief of Army Staff (COAS), visited the Tilla Field Firing Ranges near Jhelum and saw field fire and...
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676Weather
Air Pollution Cuts Life Expectancy By Nearly 4 Years in Pakistan: Report
According to a report released on Tuesday by the University of Chicago’s Energy Policy Institute (EPIC) in its most recent Air Quality...
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3.0KPakistan
UAE Deposits $1 Billion’ Into State Bank of Pakistan’s Account: Dar
Finance Minister Ishaq Dar said in a statement that the United Arab Emirates (UAE) have stepped forward with an incredibly generous gesture,...
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3.0KPakistan
Army Assures Government of all-out Support for Economic Stability
The National Seminar on Agriculture and Food Security commenced in Islamabad. Attendees eagerly awaited the words of Chief of Army Staff (COAS)...
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391Property
Top 5 Best Housing Societies To Live In Peshawar
Peshawar, the city of vibrant bazaars and rich cultural heritage, beckons residents with its timeless charm and warm hospitality. As the city...
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543Property
Top 5 Best Housing Societies To Live In Karachi
Karachi, the vibrant heartbeat of Pakistan, pulsates with a unique blend of culture, opportunity, and diversity. As the city thrives, so does...
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428Business
FBR Team To Probe $80 Million Import Mega Scandal
In a shocking revelation, the Federal Board of Revenue (FBR) has exposed a massive scandal involving the clearance of imported goods worth...
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3.0KPakistan
Pakistan and Switzerland Join Hands to Tackle Disasters: A Step Towards Global Cooperation
In a significant display of solidarity and shared responsibility, Pakistan and Switzerland have inked a Memorandum of Understanding (MoU) aimed at enhancing...
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520Business
Analysts Warn of Rupee Sliding Below 300 Against USD Soon
The Pakistani Rupee (PKR) is facing a challenging road ahead, as analysts predict a potential drop against the US Dollar. According to...
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458Business
Mango Exporters Struggle as Production Declines and Poor Strategy Hinders Export Targets
Mango exporters in Pakistan are facing significant challenges in achieving their export targets due to a 20% drop in production and a...
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495Automotive
Tax Rates on Vehicles Escalate in Pakistan’s Revised Finance Bill 2023
The government has revamped vehicle tax rates in the recently amended Finance Bill 2023, significantly affecting the auto industry. The new tax...
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3.1KPakistan
Pakistan Struggles with Prolonged Power Outages Amid Soaring Heatwave and Power Generation Deficit
As Pakistan battles a severe heat wave, its citizens are forced to endure long hours of power outages, driven by a significant...
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3.2KPakistan
Pakistan’s Fiscal Revisions: Government Unveils Austerity Measures to Secure Delayed IMF Aid
Finance Minister Ishaq Dar announced significant fiscal revisions, approximating Rs300 billion, for the upcoming fiscal year budget. These adjustments, which include a...
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3.2KPakistan
The US-Pakistan Green Alliance: A Framework for Solidifying Bilateral Relations
U.S. Ambassador Donald Blome has stressed the necessity of reinforcing the robust U.S.-Pakistan relationship under the umbrella of the “Green Alliance”, during...
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3.2KPakistan
Shehbaz Sharif Engages Global Powers to Reinstate $6.5B IMF Bailout Package Amid Budget Disputes
To revive a crucial $6.5 billion bailout package from the International Monetary Fund (IMF), Pakistan’s Prime Minister Shehbaz Sharif has reached out...
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224Business
Russia Initiates Oil Exports to Pakistan with No Special Discounts, Minister Confirms
Russian Energy Minister Nikolay Shulginov has clarified that while Russia has begun exporting oil to Pakistan, it is not providing any special...
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189Technology
Soaring Dollar Rate Plummets Demand for Tech Gadgets, Stirring Crisis in IT Industry
A sharp surge in the value of the US dollar is leading to escalating prices for tech devices such as laptops and...
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3.3KPakistan
Pakistan’s Foreign Policy Strategy Amid Global Polarization, As Outlined by Minister Bilawal Bhutto Zardari
Foreign Minister Bilawal Bhutto Zardari presented Pakistan’s foreign policy strategy on Friday, reiterating the nation’s stance against bloc politics or a resurgence...
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277Business
Pakistan Moves Toward Addressing IMF’s Budget Concerns in Pursuit of $1.2bn Share
In a recent turn of events, Pakistan has signaled its readiness to address the reservations of the International Monetary Fund (IMF) pertaining...
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239Business
Azerbaijan to Supply Liquefied Natural Gas to Pakistan: A Major Step Towards Energy Sufficiency
In a significant development for Pakistan’s energy sector, Azerbaijan has committed to export liquefied natural gas (LNG) to Pakistan starting next month....
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238Education
Pakistani Students Offered Chance for Fully Funded Intercultural Exchange in Japan by Knowledge Platform
Knowledge Platform, a prominent EdTech firm known for its innovative learning solutions, has announced the AFS Asia Kakehashi + Scholarship 2023, presenting...
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225Education
Japan and Pakistan’s PM Youth Program Launch Joint Paid Internship Initiative for Pakistani Students
The Government of Japan, in a collaborative effort with Pakistan’s PM Youth Program, has announced a paid internship initiative tailored specifically for...
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272Business
Shell Petroleum Company Announces Intention to Sell its Stake in Shell Pakistan Limited
Shell Petroleum Company Limited (SPCo), a global energy giant, has revealed plans to divest its majority share in Shell Pakistan Limited (PSX:...
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210Automotive
Amid Economic Crisis, Pakistani Auto Sector Witnesses Significant Sales Decline
With the ongoing economic turmoil and import restrictions continuing for over a year now, the Pakistani automobile sector has suffered a severe...
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212Business
Pakistani Rupee’s Downward Trend Continues Amid Increasing Debt Repayment Pressures
The Pakistani Rupee continues its descent for the third day running on Tuesday, influenced by the rising pressure of debt repayment due...
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237Business
Pakistan’s Risk of Sovereign Default Heightens Amid Stalled IMF Program, Warns Moody’s
Moody’s Investors Service expressed heightened concerns on Wednesday over Pakistan’s ability to revive the $6.7 billion IMF program, which is expected to...
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3.3KPakistan
Historic Russian Oil Delivery to Pakistan Signifies Strengthened Bilateral Cooperation
In a pivotal moment marking the progression of diplomatic relations between Russia and Pakistan, the first Russian oil consignment reached Karachi Port...
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242Automotive
Automotive Parts Importers Face Challenges with Increased Customs Duty in New Fiscal Budget
In the most recent fiscal budget, the automotive parts sector appears to be given insufficient consideration. As per the official budget document...
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215Business
SCCI Criticizes the 2023-24 Federal Budget as Disappointing and Non-progressive
The Sarhad Chamber of Commerce and Industry (SCCI) has voiced strong criticism of the 2023-24 federal budget, describing it as disappointing and...
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3.3KPakistan
Pakistan Proposes 16% Defence Budget Hike Amid Continuing Security Concerns
On Friday, the federal government of Pakistan proposed an approximate 16% increase in the defence budget, in response to ongoing internal and...
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280Business
Contentious Finance Bill 2023-24 Sparks Debate in the Senate
Finance Minister Ishaq Dar faced substantial pushback on Friday as he presented the pivotal Finance Bill 2023-24 to the Senate, following its...
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196Automotive
Pakistan’s 2023-24 Fiscal Budget Unveils Significant Boost for Hybrid Car Sector
The newly unveiled fiscal budget for 2023-24 in Pakistan has brought promising developments for the hybrid car industry in the country. As...
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225Automotive
Pakistan Auto Show 2023: Gearing Up to Showcase Future of Automotive Industry Amid Economic Challenges
Despite grappling with the adverse impacts of the economic downturn, the automotive industry in Pakistan is gearing up for the much-anticipated event...
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216Business
Pakistan Grapples with Stagflation and Economic Crisis Amid IMF Deal Uncertainties
Pakistan finds itself in a turbulent economic situation, characterized by a growth rate of a mere 0.3% alongside an inflation rate of...
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293Business
Pakistan Plans to Raise $2 Billion Through Eurobonds Amid Uncertain IMF Deal
To secure crucial foreign financing amidst an uncertain International Monetary Fund (IMF) deal, the Pakistani government is strategizing to raise $2 billion...
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3.4KPakistan
Government Contemplates Hike in Petroleum Levy amid Inflation Concerns to Bolster Non-Tax Revenues
In a move that might stoke the flames of inflation, the government is deliberating on raising the petroleum levy to a record...
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259Business
Pakistan Aims to Boost Economy to $1 Trillion by 2035 Amid Concerns Over Political Stability
Pakistan’s National Economic Council (NEC) has given the green light to the ambitious “Pakistan Economic Outlook 2035” initiative, aimed at expanding the...
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337Technology
Pakistan’s IT Industry Appeals for Government Support to Foster Economic Growth
The Information Technology (IT) industry of Pakistan is calling on the government to implement tax incentives that promise lucrative returns and to...
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3.4KPakistan
Pakistan Railways Intensifies Efforts to Recover Billions in Owed Land and Service Fees
Pakistan Railways is stepping up efforts to recover billions of rupees in outstanding land and service fees from both federal and provincial...
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218Business
Pakistan Approves Over PKR 402 Billion Supplementary Grant for External Debt Servicing
On Monday, the Pakistani government authorized supplementary grants exceeding PKR 402 billion to service external debt in the current fiscal year. The...
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196Automotive
Toyota Indus Announces Production Halt Amid Auto Industry Distress
Toyota Indus Motor Company (IMC) has once again flagged non-production days (NPDs) in June, adding to the ongoing struggles of the auto...
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225Automotive
Pak Suzuki Appeals to Prime Minister Amid Mounting Challenges in Auto Industry
Pak Suzuki Motor Company (PSMC), Pakistan’s leading car manufacturer by sales and production volume, finds itself grappling with substantial losses owing to...
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225Business
Reviving the Pakistan Stock Exchange: A Focus on the Upcoming Budget
Finance Minister Ishaq Dar expressed his unease over the current underperformance of the Pakistan Stock Exchange (PSX) on Sunday, during a meeting...
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232Business
Prime Minister Shehbaz Sharif Seeks Fresh IMF Bailout Amid Fiscal Challenges
As Pakistan grapples with the complexities of procuring a bailout from the International Monetary Fund (IMF), Prime Minister Shehbaz Sharif has indicated...
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223Business
IMF Intervention in Pakistan’s Internal Affairs Sparks Controversy
Dr Aisha Ghaus Pasha, Minister of State for Finance, has criticized a statement by the International Monetary Fund (IMF) outlining prerequisites for...
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207Automotive
Punjab Mass Transit Authority Moves Towards Commercialization of Metro Stations
The Board of Governors of the Punjab Mass Transit Authority (PMTA) has given preliminary approval for implementing a business model at Metro...
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246Business
Controversy Surrounds Pakistan’s Economic Data Amid Decline and Alleged Manipulation
Pakistan’s economy has been dealt a blow in the recent fiscal year, with its size diminishing to $341.5 billion, marking a 9%...
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263Business
Pakistan’s Economy Struggles Amidst Crisis, Records Stagnant Growth of 0.3%
In the face of strict import limitations aimed at preventing a sovereign default, Pakistan’s economic growth rate plummeted to a paltry 0.3%...
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204Business
Record-Breaking Fall of Pakistani Rupee Against US Dollar Stirs Economic Concerns
The Pakistani Rupee suffered a historical plunge on Tuesday, hitting an all-time low of Rs308 to the US dollar in the open...
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232Business
Pakistan’s Government Prepares for Massive Fiscal Expansion with a Rs14.6 Trillion Budget
Pakistan is preparing to introduce an extraordinarily expansionary budget for the fiscal year 2023-24, reaching around Rs14.6 trillion. This budget, marking an...
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226Business
Influential Industrialists Seek to Resolve Political Impasse for Economic Stability
In an effort to address the ongoing deadlock in the country’s corridors of power, influential industrialists and tycoons have taken the lead...
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275Business
Pakistan To Borrow Record Rs9.44 Trillion From Banks To Repay Maturing Debt And Finance Expenditures
The government of Pakistan has announced its plan to borrow a record Rs9.44 trillion from domestic commercial and Shariah-compliant banks over the...
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212Business
Rupee Plummets to Record Low Amid Political Turmoil and Inflation Fears
Pakistan’s rupee fell almost 3% to a new record low at Rs298.93 against the US dollar in the inter-bank market amid escalating...
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263Business
Pakistan Faces Risk of Default Without IMF Bailout, Warns Moody’s
Moody’s Investors Service, a leading financial ratings company, has issued a warning that Pakistan may default on its debts if it does...
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215Covid
WHO Declares End to Covid-19 Global Health Emergency, But Virus Remains a Threat
The World Health Organization (WHO) has declared an end to the global health emergency of international concern for Covid-19, marking a major...
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3.8KPakistan
EU Delegation Agrees To Provide Financial Assistance For Tourism Projects In Kaghan Valley
The Kaghan Development Authority (KDA) has announced that a joint delegation from the European Union (EU) and the Austrian embassy in Islamabad...
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329Business
Government Raises Rs705bn Through Treasury Bills Auction Amid High Liquidity Of Banks
The Pakistani government raised Rs705 billion through the auction of market treasury bills on Wednesday, despite receiving bids of Rs1.195 trillion, mostly...
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3.8KPakistan
Pakistan to Stop Supply of Cheap Gas to Power Producers, Minister of State for Petroleum Announces
Minister of State for Petroleum, Musadik Malik, announced that the Pakistani government would stop the supply of cheap natural gas to power...
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3.8KPakistan
Pakistan Making Progress In Overcoming Economic Challenges, Says PM Shehbaz Sharif
Pakistan’s Prime Minister, Shehbaz Sharif, has declared that the country is making progress in overcoming economic challenges caused by tough decisions made...
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340Business
Pricey Currency Causes Problems For Startups
Digital businesses reduce costs by switching from the dollar to the rupee. Businesses operating in Pakistan are beginning to reduce their costs...
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256Business
Pakistan’s Current Account Balance Achieves Surplus of $654 Million in March
Pakistan’s economy has experienced an unexpected improvement in its current account balance, with a surplus of $654 million achieved in March. This...
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4.0KBusiness
World Bank Warns Of Further Rise In Pakistan’s Inflation To 29.5% In FY23
Pakistan’s inflation is set to rise to 29.5% in the fiscal year 2023 due to the weaker Rupee, as well as higher...
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347Business
Pakistan’s Foreign Exchange Reserves Decline by $170 Million to Reach $4 Billion: SBP
The State Bank of Pakistan (SBP) announced on Thursday that the central bank’s foreign exchange reserves have decreased by $170 million, remaining...
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4.0KPakistan
KP Govt Faces Financial Crunch, Delays Salary Payment Ahead Of Eidul Fitr
The caretaker government of Khyber Pakhtunkhwa (KP) has announced it will not pay salaries ahead of Eidul Fitr due to a lack...
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303Business
UAE Confirms $1bn Support For Pakistan To IMF, Says Finance Minister Dar
UAE has confirmed its commitment to the International Monetary Fund (IMF) for its bilateral financial support of $1 billion to Pakistan, according...
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331Business
IMF Remains Steadfast On Staff-Level Agreement: Ishaq Dar
Pakistan’s Finance Minister Ishaq Dar has urged the International Monetary Fund (IMF) to show some flexibility and sign the staff-level agreement during...
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245Business
Increase In Smuggled Cigarettes Sales After Hike In Duties
Smuggled cigarettes have flooded the market in Pakistan, posing a serious threat to the government’s efforts to increase revenue receipts. In March,...
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316Business
Finance ministry’s economic outlook highlights economic slowdown
The government of Pakistan has warned of further inflation and economic slowdown, blaming the delay in finalizing a deal with the International...
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1.6KPakistan
Russia Disappointed With Slow Progress of Pakistan’s Plan to Import Crude Oil
Russia has expressed disappointment with Pakistan’s slow progress in importing crude oil from Moscow, according to sources. Pakistan had committed to importing...
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1.1KPakistan
Pakistan’s Rupee Falls Against Dollar as Demand Increases
In the inter-bank market, the Pakistani rupee dropped by 0.13% or Rs0.38 to Rs283.50 against the US dollar, ending the currency’s two-day...
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1.1KPakistan
Incumbent Government Provided Rs74b To Flood Victims Under BISP
The Minister for Parliamentary Affairs, Murtaza Javed Abbasi, informed the National Assembly that the current government had allocated emergency relief funds of...
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1.2KPakistan
Stampedes During Free Flour Distribution Result In One Death And Multiple Injuries In Charsadda And Kohat
Multiple stampedes occurred in different districts of Khyber Pakhtunkhwa (KPK) province, resulting in one man’s death and several injuries, as the provincial...
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1.2KPakistan
Rawalpindi Braces for Flour Shortage as Prices Skyrocket
The Punjab government has implemented a significant price hike on cheap subsidized flour, leading to fears of a flour crisis in the...
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252Business
Large scale manufacturing shrinks 7.75% in October
Large scale manufacturing (LSM) fell 7.75 percent year on year in October, with the textile, machinery, equipment, and automobile sectors contracting, according...
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254Business
A lack of documentation has resulted in a gold import ban
Commerce Ministry officials told a Senate panel that if the country’s entire gold business was documented, then the gold import ban could...
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248Business
Remittance inflows fall by 4.8%, recorded $2.1bn in November
Remittance inflows dropped by nearly 5% on a month-on-month basis in November of the fiscal year 2023, a drop that is being...
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298International
‘Tough times’: China’s ‘zero-COVID’ exit raises concerns
The World Health Organization warned of “very tough” times ahead a week after China began dismantling its strict “zero-COVID” controls, and state...
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514Property
Pakistanis can now invest in real estate with as little as Rs.10
After the country’s first Development Real Estate Investment Trust (REIT) begins offering units for subscription on the Pakistan Stock Exchange (PSX) this...
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1.4KPakistan
Pakistan’s default risk has dropped dramatically below 60%
Pakistan’s chances of default on its debt have dwindled in recent sessions, with the cost of ‘insuring’ the country’s sovereign debt falling...
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331Business
Old banknotes cannot be exchanged after 31st, says SBP
The State Bank of Pakistan (SBP) announced on Tuesday that the old design large size banknotes of Rs 10, 50, 100, and...
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1.3KPakistan
Pakistan has already used the majority of its oil and natural gas reserves
Pakistan’s future energy landscape appears bleak, as it has already depleted 79.8% of its total oil reserves and 66.6% of its natural...
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315Technology
Pakistan IT industry to be rebranded in 2023: MoITT
In March, the Ministry of Information and Telecommunications (MoITT), in collaboration with the Trade Development Authority of Pakistan (TDAP), will host a...
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351Business
Pakistan hopes to acquire $32 billion loan this year
Renowned economic and political experts said that there was no immediate prospect of declaring an economic emergency in Pakistan because the government...
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1.2KPakistan
KP to be put on world tourism map- says CM
Khyber-Pakhtunkhwa Chief Minister Mahmood Khan has stated that his government’s goal is to put KPK on the global tourism map. The CM...
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1.2KPakistan
Research proves China is Pakistan’s closest ally
Different reactions arise when discussing Pakistan-China relations in different contexts. The Western perspective views the relationship primarily through the lens of expediency...
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327Business
Vietnam sees trade rising to $1 billion next year
On Thursday, Vietnam Ambassador Nguyen Tien Phong expressed optimism that annual trade with Pakistan would reach $1 billion by the end of...
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1.2KPakistan
Pakistan’s police, judiciary among top most corrupt institutions, reveal TIP’s report
According to the Transparency International Pakistan (TIP) National Corruption Perception Survey (NCPS) 2021, police are the most corrupt department, followed by the...
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327Business
Pakistan’s business confidence score drops to negative 4%
According to the Overseas Investors Chamber of Commerce and Industry (OICCI), Pakistan’s business confidence score (BCS) fell to negative 4% in September-October...
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354Business
No ‘Economic Emergency” being imposed in Pakistan: Finance division
Finance division denied all the rumours of “economic emergency” being imposed in Pakistan and said that such news are spread by the...
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351Technology
Why did USA fall behind China in cell phone production
Made in China is a phrase seen almost on everything these days; however, Made in USA is rarely seen on anything. If...
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564Business
Pizza Hut and Burger King sold their businesses in Pakistan
Famous food eateries, Pizza Hut and Burger King came under new management as Maaks International acquired MCR and MCR Pakistan. Pizza Hut...
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456Business
What Happens When A Country Defaults?
A country defaults occur when a country is unable or unwilling to pay the debts on due time. Though country defaults happen...
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333Business
FBR to auction off properties, trademarks
Federal board of revenue (FBR) to auction off properties and trademarks of big tax defaulters to recover tax dues. The Director General...
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325International
Turkey’s inflation slows for first time since 2021
According to official figures, Turkey’s inflation decreased in November for the first time since May 2021, giving President Recep Tayyip Erdogan a...
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275Technology
Poor government policies, high taxes ruining telecom sector
According to global mobile industry association GMSA, there is a profound threat to Pakistan not been realized as a digital country with...
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1.3KPakistan
Cooking oil prices likely to go up
The prices of cooking oil are projected to rise this month due to the significant inflationary pressure brought on by Pakistan’s fragile...
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349Business
FBR extends income tax returns filing date once again
Federal Board of Revenue (FBR) extends the income tax returns filing date till 15th December, for the third time. The announcement was...
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1.3KPakistan
Russia refuses to give Pakistan 30–40% discount on crude oil
Russia refused to offer 30 to 40% discount on crude oil as sought by a delegation from Pakistan lead by state Minister...
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437International
No objections to Pakistan importing Russian crude oil: US
According to US state department spokesperson, US has no problem with Pakistan importing cheap crude oil from Russia. It was further said...
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1.3KPakistan
Government struggles for $1.18 billion IMF tranche
The International Monetary Fund (IMF) is continuing analyzing Pakistan’s fiscal situation despite the fact that time is running short, particularly in light...
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431Climate Change
By 2050, Pakistan’s annual GDP can decline 18-20% due to climate change risks
To halt climate-related calamities, Pakistan would need a massive $348 billion in eight years, which is 800% more than its existing yearly...
