Business

Indicators show Pak economy performing well amid challenges

Notwithstanding the global economic shocks caused due to Covid-19 pandemic, the county’s economy has performed well as is clearly demonstrated by several macroeconomic indicators. The overall Gross Domestic Product (GDP) growth, during the fiscal year 2020-21 was recorded at 5.37 percent, the second highest growth in last 14 years, according to National Accounts Committee (NAC). According to the final numbers...

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Indicators show Pak economy performing well amid challenges

Notwithstanding the global economic shocks caused due to Covid-19 pandemic, the county’s economy has performed well as is clearly demonstrated by several macroeconomic indicators. The overall Gross Domestic Product (GDP) growth, during the fiscal year 2020-21 was recorded at 5.37 percent, the second highest growth in last 14 years, according to National Accounts Committee (NAC). According to the final numbers...

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Tea imports increase by 5.14pc in 1st half

The tea imports into the country witnessed an increase of 5.14 during the first half of the current fiscal year as compared to the corresponding period of last year. The tea imports during July-December (2021-22) stood at $300.604 million against the imports of $285.907 million during July-December (2020-21), according to data of Pakistan Bureau of Statistics (PBS). In terms of...

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Muzammil Aslam

Country’s economy performing well due to Govt’s prudent policies: Muzammil Aslam

Spokesperson Finance Ministry Muzammil Aslam says the incumbent government is fighting crises with determination as the provision of relief to the people is the government's top most priority. Talking to the PTV, he said despite multiple challenges, the country's economy has been performing well during 2021 and is moving in the right direction with the support of the government's prudent...

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Hammad Azhar

Pakistan’s economy to grow faster than 2021 forecast: Hammad

Minister for Energy Hammad Azhar says Pakistan’s economy would grow faster than the previous year's forecast. In a tweet, he said as per final figure, the economy grew at 5.37 percent last year.  

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Seafood

Seafood exports increase by 3.18% in 1st half

The exports of fish and fish preparations increased by 3.18 per cent during the first half of the current fiscal year as compared to the corresponding period of last year. The seafood exports during July-December (2021-22) were recorded at $201.581 million against the exports of $195.364 million in July-December (2020-21), showing growth of around 3.18 per cent, according to Pakistan...

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Food

Food commodities worth $2.482 billion exported in 6 months

Food group exports from the country during the first-half of current fiscal year increased by 22.28% as compared to the exports of the corresponding period of last year. During the period from July-December, 2021, different food commodities including rice, vegetables, fruits, oil seeds, meat, fish, spices and others valuing $2.482 billion were exported against the exports of $2.030 billion of...

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oil prices

Govt makes partial increase in prices of petroleum products

The government has increased the prices of petroleum products in view of the rising oil prices trend in global market. According to the notification issued by the Finance Ministry, the price of petrol has increased by 3.01 rupees per litre, High Speed Diesel and Kerosene by 3 rupees and Light diesel oil by 3.33 rupees per litre. The notification said...

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State Bank of Pakistan

Remittances grow by 11.3% to $15.8bn in 1st half

The workers remittances grew by 11.3 percent during the first half of the current fiscal year as compared to the corresponding period of last year, State Bank of Pakistan (SBP) reported Friday. The workers remittances during July-December 2021-22 were recorded at $15.8 billion, according to figures released by SBP. Meanwhile, with $2.5 billion of inflows during December 2021, workers’ remittances...

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Food

Kitchen items’ prices ease as SPI goes down 0.43 percent

The Sensitive Price Indicator (SPI) based weekly inflation for the week ended on January 13, for the combined consumption group, witnessed decrease of 0.43 percent as compared to the previous week, Pakistan Bureau of Statistics (PBS) reported Friday. According to  APP The SPI for the week under review in the above mentioned group was recorded at 167.39 points against 168.12...

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exchange rates

Foreign exchange rates

The Exchange Rates Committee of Financial Markets Association of Pakistan issued the following Exchange rates bulletin, here on Friday. CONVERSION RATES FOR 14TH JANUARY 2022 FOR FOREIGN CURRENCY FOR FORWARD COVER FOR DEPOSITS (EXCLUDING FE 25 DEPOSITS) SBP SETTLEMENT VALUE DATE JANUARY 19, 2022 USD 176.3617 GBP 242.0388 EUR 202.1281 JPY 1.5412

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World Bank

COVID-19 variants and rising debt threaten global economic growth: World Bank

Global growth will slow down over the next two years in the face of “fresh threats” from COVID-19 variants and rising inflation, debt and income inequality, according to the World Bank’s latest report. While economic growth experienced a strong rebound in 2021, it is expected to decline markedly from 5.5 per cent last year to 4.1 per cent in 2022,...

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Reza Baqir

Basic economic indicators of country kept under control even in times of pandemic : Reza Baqir

Governor State Bank Reza Baqir has said that basic economic indicators of the country were kept under control even in the times of pandemic. Addressing a ceremony in Karachi on Wednesday, he said that all segments of the society were compensated during the pandemic, Ehsaas Cash Programme was initiated to help the worker class and loans to business and trade...

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Wheat

Wheat stocks of over 4.336 mln tons available to cater domestic consumption

Abundant wheat stocks of 4.336 million tons are available to cater domestic requirement, besides maintaining smooth demand, supply in local markets and ensure provision of flour and other by-products on sustainable rates across the country. Domestic wheat stocks during first week of last year (2021) were recorded at about 3.188 million tons with carry forward stocks of 731,033 metric tons,...

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exchange rates

Foreign exchange rates

The Exchange Rates Committee of Financial Markets Association of Pakistan issued the following Exchange rates bulletin, here on Monday. CONVERSION RATES FOR 10TH JANUARY 2022 FOR FOREIGN CURRENCY FOR FORWARD COVER FOR DEPOSITS (EXCLUDING FE 25 DEPOSITS) SBP SETTLEMENT VALUE DATE JANUARY 12, 2022 USD 176.6485 GBP 239.0408 EUR 199.7011 JPY 1.5244

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Finance Ministry

IMF requested to reschedule 6th review till January end: Finance Ministry

The Finance Division has officially requested the International Monetary Fund (IMF) to reschedule the meeting of its Board of Directors for the approval of 6th review till end January. According to press statement issued by the Finance Ministry here Monday, the government had introduced bills in the National Assembly whereas IMF had moved the 6th tranche recommendation to its board...

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Shaukat Tarin

Pakistan stock market claims highest profit in 10 years with aggregate profit of Rs258b: Tarin

Finance Minister Shaukat Tarin says Pakistan stock market has claimed highest profit in ten years with aggregate profit of 258 billion rupees. He said this in tweet on Friday. Rs258 bn aggregate profits: Pakistan stock market claims highest profit in 10 years pic.twitter.com/qE2iqnKs5y — Shaukat Tarin (@shaukat_tarin) January 7, 2022 Tax collection system being automated to increase the revenue: Tarin...

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