Tag: economic downturn
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PSX faces record single-day plunge, shedding 2,534 points
On Tuesday, Pakistan Stock Exchange’s (PSX) KSE-100 index experienced a significant downturn, plummeting by 2,534 points, or 4.11 per cent, culminating in a closure at 59,171—a record for the largest single-day drop in absolute points.
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Honda Civic sales in Pakistan drop by 72.36%
Sedan car sales experienced a significant downturn, particularly notable in Honda Civic sales, which suffered a substantial decline of 67.33 per cent in October 2023 on a month-over-month basis and 72.36 per cent on a year-over-year basis in Pakistan.
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Output of Pakistan’s main industries declines by over 10%
The economic landscape of Pakistan has faced a notable setback, with the Large Scale Manufacturing Industries (LSMI) output experiencing a decline of 10.26 per cent during the fiscal year 2022–23 when compared to the same period in 2021–22. This concerning information has been revealed by the Pakistan Bureau of Statistics (PBS), shedding light on the…
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Crisis on wheels: Pakistan’s automotive industry grapples with mass layoffs and 70% sales drop
The automotive industry in Pakistan is facing a severe setback as thousands of workers were laid off due to a decline in vehicle and spare parts sales. The government’s ban on raw material imports, coupled with the depreciation of the rupee and soaring inflation, has caused a significant strain on the industry. With foreign exchange…