PSX lost 923 points amid hikes in fuel and energy prices
The selling trend continued in the Pakistan Stock Exchange for the second day as the KSE-100 index dropped 923.03 points to close at 41314.88, 2.23% down than yesterday. The downward trend in the stock market is being attributed to the enormous hike in fuel and energy prices.
Pakistan exports more than $225 million rice to China
Pakistan’s rice exports to China increases up to $225 million, with more than 601,574.052 tons of different varieties of rice exported in January-April this year.
Factories may cut production in Pakistan amid rising energy costs
Factories owners fear that they may need to shut production due to an unprecedented hike in energy costs, which will be another disaster for the already struggling economy
Moody’s demotes Pakistan’s economic outlook from stable to negative
Moody's downgrades Pakistan's economic outlook to negative, citing 'heightened external vulnerability' and uncertainty regarding the much needed external financial support as the reasons behind the downgrading of Pakistan’s economic outlook.
IMC celebrates the achievement of rolling out 1 million vehicles
IMC celebrates a milestone of producing 1 million models , and has displayed the millionth unit at Karachi’s plant for grand celebration.
APTMA urges government to continue RCETs for entire textile value chain
APTMA urges the government to continue with the Regionally Competitive Tariffs for the entire value chain and not to impose any non-tariff barrier on raw material or spare parts for the industry.
World Bank issues warning of global recession
World Bank stated that the ongoing Russia-Ukraine war could bring a global recession as food, energy, and fertilizer the prices go higher
IMF presses Pakistan to remove petroleum subsidies for revival of its programme
IMF emphasised the urgency of concrete policy actions, including in the context of removing fuel and energy subsidies and the FY2023 budget".
Russian Rouble gains value despite western economic sanctions
Russian Rouble continued the upward trend against dollar to become the best performing currency of the world. The strengthening of Russian currency, that too, due to its exports sector is impressive keeping in view the ongoing Russia-Ukraine war.
State Bank hikes base interest rate by 150 bps
Internally, domestic uncertainty, expansionary monetary policy and petroleum and energy subsidy, while externally the Russia-Ukraine war and the latest wave of Covid-19 in China influenced the decision.
UN body: Ukraine war has strongly impacted Pakistan’s economy
Inflation rate in Pakistan edged up to 13.4 per cent in April 2022, which is more than double the central bank’s inflation target.
Zameen.com organises first edition of Pakistan Property Event in Doha, Qatar
Attendees from UAE and the Gulf region had previously expressed a keen interest in investing in projects from Pakistan at the UAE edition of the Pakistan Property Event held in Dubai last year.