Tag: imports
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Pakistan’s inflation forecasted to remain between 25-27% for July, says Finance Ministry
The Ministry of Finance anticipates a decline in inflation for the month of July compared to the previous month, with expectations of it remaining within the range of 25-27 per cent. The ministry’s ‘Monthly Economic Update & Outlook’ for July attributes this anticipated decrease to the recent reduction in administered prices of petrol and diesel,…
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FBR increases ‘green channel’ clearance to 66% for imports and exports
In a significant advancement in trade facilitation, the Federal Board of Revenue (FBR) has decided to increase the clearance of imports and exports through the “green channel” facility from 35 per cent to 66 per cent.
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Pakistan’s current account surplus soars to $334 million in June
The State Bank of Pakistan (SBP) has reported that Pakistan’s current account has achieved a surplus for the fourth consecutive month, reaching $334 million in June 2023.
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Local manufacturing plants in Pakistan assemble 4.88 million mobile phones in first five months of 2023
According to official data, local manufacturing plants in Pakistan have successfully manufactured and assembled 4.88 million mobile handsets during the first four months (January-May) of 2023. This figure stands in stark contrast to the mere 0.41 million handsets that were commercially imported during the same period.
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Inventory shortage forces Pak Suzuki to extend motorcycle plant shutdown
Pak Suzuki Motor Company (PSMC) has officially announced the extension of the shutdown of its motorcycle plant until June 16, 2023. The decision was conveyed to the Pakistan Stock Exchange (PSX) through a notice on Tuesday. The company attributed this action to ongoing government restrictions on imports, which have negatively impacted the automotive industry and…
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Pakistan’s merchandise exports dive for ninth consecutive month, drop by 16.69% in May
Pakistan’s merchandise exports continue to decline for the ninth consecutive month, plunging by 16.69 per cent year-on-year to $2.18 billion in May, according to data released by the Pakistan Bureau of Statistics.
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Pakistan’s forex reserves decline to $4.31 billion, covering less than a month’s worth of imports
Pakistan’s forex reserves dropped to $4.3 billion due to debt payments.
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Pakistan’s current account records $18 million surplus in April due to import reductions
Pakistan’s current account recorded a surplus for the second consecutive month in April, with analysts attributing this development to a reduction in imports resulting from administrative measures. Data released by the State Bank of Pakistan (SBP) on Tuesday revealed that the country achieved a surplus of $18 million this month, compared to a current account…
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Pakistan rupee recovers by one paisa against US dollar
According to the State Bank of Pakistan (SBP), the Pakistani rupee (PKR) strengthened by Rs0.01 against the US dollar in the interbank market on Tuesday.
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Alarming decline in Pakistan’s manufacturing sector, latest data reveals
The manufacturing industry in Pakistan, which is responsible for about 20 per cent of the country’s economic growth, has experienced its eighth consecutive month of decline. This is a major cause for concern as it could have negative impacts on the overall economy.