ISLAMABAD, May. 17 (INP) – In a significant move, foreign portfolio investment has witnessed a notable surge, recording a net inflow of $165 million during the recent period. This development marks a stark contrast to the preceding year, which saw an outflow of $1,014.7 million. Foreign Private Portfolio Investment contributed significantly to this positive trend, registering a net inflow of …

ISLAMABAD, May 17 (INP) – A sharp decrease in the current account deficit (CAD) underscores a major change in Pakistan’s economy, signalling increased stability in the external sector. However, sustaining this progress demands an ongoing commitment to sound economic policies and structural reforms, reports WealthPK. According to the latest data released by the State Bank of Pakistan (SBP), the current …

FAISALABAD, May 17 (INP) – The plastic strip manufacturers of Faisalabad are facing multiple issues to run their businesses smoothly. Talking to WealthPK, Tariq Mehmood, who serves as supervisor at a factory, said the situation for the plastic factory owners was going from bad to worse, as the rulers seemed not ready to lower the prices of electricity and raw …

ISLAMABAD, May 10 (INP) – The local tractor sales registered an increase in the first nine months of the current fiscal year (2023-24), testifying to the increasing interest of farmers and agricultural stakeholders in the adoption of machinery, reports WealthPK. The increase in sales is driven by the localization of tractors, growth in the agriculture sector, technological advancements, and improved …

ISLAMABAD, May. 10 (INP) – Giving market access to small and medium-sized enterprises and freelancers through a developed Information and Communication Technology infrastructure would help boost economic activity in Gilgit-Baltistan. Speaking to WealthPK, Ghulam Rehman, President of GB Freelancers Association (GBFA), said that Karakoram International University and the University of Baltistan were the primary higher education institutions in the region, …

ISLAMABAD, May. 10 (INP) — In recent months, Pakistan has witnessed a decline in its inflation rate, indicating a significant shift in its economic direction. The inflation rate has demonstrated a significant decline, dropping from 29.7% in December 2023 to 20.7% in March 2024, reflecting a remarkable decrease of 9 percentage points within a concise three-month span. Talking to WealthPK, …

FAISALABAD May 09 (INP) – The business community of Faisalabad has demanded security measures for safe transportation of cash to and from banks and to curb break-ins at their inventories. Talking to WealthPK, Muhammad Waheed, a powerloom factory owner, said the break-ins at factory inventories had become frequent. He said entrepreneurs taking cash to and from banks were also vulnerable …

ISLAMABAD May 09 (INP) – The private sector’s contribution to economic growth remains significantly stunted. A key factor behind this limited involvement is the banks’ reluctance to provide loans for business expansion, which is overshadowing Pakistan’s economic path. The private sector borrowing has plummeted by 36.95 percent to a mere Rs191.5 billion in the initial nine months of FY24 – …

FAISALABAD May 09 (INP) — The post-harvest losses are impeding the growth of Pakistan’s agriculture sector, and farmers need modern methods and infrastructure to tackle this challenge. “We have to take practical measures to curtail the post-harvest losses as it’s a crucial issue, which is hitting the agriculture produce,” Dr Ahmed, a faculty member at the University of Agriculture Faisalabad, …

By Syed Asif Salahuddin The power sector’s circular debt has accumulated to approximately US$8.3 billion due to inefficiencies and inability to recover the costs incurred on power generation. In Pakistan’s ongoing battle to stabilize the energy sector, the government has taken a significant step by allocating Rs450 billion for power sector subsidies in FY2023-2024, up from Rs350 billion in the …