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Rise in value added textile exports

According to newspaper reports, textile exports are expected to touch $13 billion mark during the current fiscal year. The volume of the exports of value-added textile goods has already jumped to 7.66 percent during the first five months of the current fiscal year. Ironically, exports of textile goods steadily declined year on year since 2013 when it reached $13.73 billion ... Read More »

Gains and losses in 2017

  The year 2017 remained difficult for some businessmen but comfortable for the others. The nation faced political upheaval during the year as Prime Minister Nawaz Sharif was packed home on the Supreme Court’s order and the move changed the political milieu of the country. Political instability and absence of the finance minister from Pakistan put the economy under dire ... Read More »

Auto industry

According to newspaper reports, at least 500 Chinese automakers have shown interest in setting up their manufacturing plants in Pakistan. The companies interested in the local auto industry include the manufacturers and assemblers of heavy-duty trucks, engines, auto parts and tyres. In a discussion with representatives of the Islamabad Chamber of Commerce and Industry, a delegation of Chinese businessmen expressed ... Read More »

Current challenges faced by economy

  According to a report issued by the Institute for Policy Reforms, the economy of Pakistan faced serious challenges and vulnerabilities during the first quarter of the current fiscal year. The report also mentions remarkable increase in tax collections but foreign financing remains a major challenge for the economy. The gross domestic product of the country remained 4.4 percent during ... Read More »

Potentials of gem industry

The All Pakistan Gem Merchants and Jewellery Association’s decision to introduce the world of the local natural treasures by setting up a gem bazaar is the first ever effort of the kind in Karachi. The move is probably too much delayed on the part of the gem producers, exporters, retailers and merchants. However, it is better to do late than ... Read More »

CPEC and Port Efficiency

The overall Global market activities are firming as anticipated. Manufacturing and trade are gaining momentum, investment confidence is improving, and international financing conditions also remain benevolent. As per the Global Economic Prospects (2017) the international growth is projected to increase to 2.7 percent by the end of year 2017. Whereas, it is also expected that the year 2018-19 would witness ... Read More »

Novel way of tax evasions

According to news report broke by Customs Today, around three dozen importers evaded taxes and duties of Rs 24 billion between 2005 and 2014 by pilferage and frauds during shipment of the imported goods. The official circles are regarding it as one of the biggest tax evasion scam in the customs history of the country, the details of which show ... Read More »

Grim outlook of economy

According to economists, Pakistan needs a paradigm shift in its economic policies. It is time for the policymakers sitting in the government offices to wake up from deep slumber and act now. As the country’s exports could not pick up to the desired level and regulatory duty failed to curb imports, the only option left for the government is to ... Read More »

Fall of bitcoin’s price

Bitcoin, which climbed from less than one dollar in 2009 to as high as $20,000 in 2017, has plunged below $13,000 just in five days. According to financial experts, Bitcoin is a new international currency which works without a central bank or single administrator. The system works peer-to-peer in which transactions take place directly between users without any intermediary. Transactions ... Read More »

New World Bank loan of $825 million

According to newspaper reports, the World Bank has approved another loan of $825 million for Pakistan to improve public finance management and upgrade power transmission system. At least $425 million has been obtained on commercial terms and the money will be returnable in 21 years while $400 million will be given for Public Finance Management. The new package of loan ... Read More »

Mantra of fourth Industrial Revolution

If Pakistan is heading toward fourth Industrial Revolution, the three erstwhile are still unheard though various industrial cities have sprung up in four sides of the country since the last 70 years of independence. The nation, which started its journey from a ‘thorn’, is the only nuclear power in the Islamic world and has strong industrial base across the country. ... Read More »

PM’s narratives

Prime Minister Shahid Khaqan Abbasi’s statement that industrialization is gaining momentum in the country after the government overcame energy shortage can be regarded as a fresh blow of air, indicating his sense of responsibility and vision about the national economy. In his address to the Faisalabad Chamber of Commerce and Industry, Mr Abbasi expressed the desire to cut the cost ... Read More »

Growing financial gap of $12 billion

According to newspaper reports, State Bank of Pakistan Governor Tariq Bajwa has told the National Assembly Standing Committee on Finance and Revenue about serious challenges confronted by the national economy, including external financing gap of around $12 billion during the current fiscal year. The governor explained the reasons behind devaluation of the Pakistani rupee and possible challenges to the national ... Read More »

Economic cooperation with Russia

According to newspaper reports, Pakistan and Russia are all set to sign two agreements worth $10 billion, envisaging the laying down of two pipelines, an offshore gas pipeline and another North-South liquefied natural gas pipeline this week. Local and foreign financial experts believe the agreements would open up new vistas cooperation between the two countries. Reports also suggest that a ... Read More »

Foreign interference in economic affairs

The Lahore Chamber of Commerce and Industry president has expressed his dismay over the interference of the International Monetary Fund in the country’s economic affairs. There is no denying the fact that the value of the Pakistani rupee has been falling unstopped and this only happened after tense negotiations between the government and the fund officials a few days ago. ... Read More »

Need to achieve sustainable growth rate

A World Bank official has predicted that Pakistan can join the group of high-income economies if it achieves sustainable growth rate of eight percent in its gross domestic product. However, in case it maintains a usual growth rate of up to 5 percent, half of its population will not be able to get social benefits in next three decades. Pakistan ... Read More »

Dragging rupee to its knees

There is no doubt in the notion that international financial institutions are the neo-colonialists of the modern age with powers to make and break the economies of developing countries. The financial institutions, which were set up apparently to assist the developing economies, are following the policies not different than that of the East India Company or the organizations of the ... Read More »

Pak-French economic cooperation

The statements such as Pakistan has attractive investment opportunities for foreign entrepreneurs or it is an emerging economic power in South Asia have lost their worth and values when it comes to the litmus test of the time and real economic variables. The country is facing severe financial crisis as rupee has been devaluated, exports are experiencing free fall and ... Read More »

Fallout of devaluation of rupee

In the aftermath of recent talks with the visiting officials of the International Monetary Fund, the government has allowed devaluation of the local currency, but opened the floodgates of inflation, mismanagement and financial crisis. Since the government showed its leniency toward devaluation, the rupee has been sliding for the fourth consecutive day in the inter-bank market as it reached at ... Read More »

PM’s desire to purge FBR

Prime Minister Shahid Khaqan Abbasi’s directives to purge the Federal Board of Revenue and the Pakistan Customs of the corruption officials have apparently gone unheard. The media reports suggest key positions in the board and the Customs have still been occupied by the officials having embarrassingly corrupt past. Earlier, Abbasi directed the FBR chairman to focus on the officers heading ... Read More »

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