General Economic Updates

Fatman17 said:
Because China is not forthcoming with new investment in CPEC or any other issue.
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Surprisingly, it took the Chinese this long to come to the realization.

Check below the result of putting jokers in the office and turning the office into a circus.

But then we have morons praising PSX without understanding its internal workings; the PSX has its magic while everyone else suffers.

propakistani.pk

Pakistani Freelancers Are Receiving 70% Less Work Due to Internet Slowdown

Nationwide internet slowdown has crippled freelance work across the country. Sources indicate persistent internet issues across the country are severely
propakistani.pk propakistani.pk

@Forsvaret Purana Pakistan: words will reverberate for generations. Every child born will curse its parents and slap them around.
 
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Editorial: Finance Minister Muhammad Aurangzeb’s comment at an Islamic finance conference that, having effectively addressed its economic woes, the country is on the path to stability and growth, is overly optimistic, if not boastful.

Read the full editorial here: https://www.dawn.com/news/1878860
 
Finance Minister Muhammad Aurangzeb expressed confidence about Pakistan’s economic trajectory during the Economic Coordination Committee (ECC) meeting on Wednesday.

Highlighting the key economic indicators, the minister noted a significant current account surplus, rising foreign exchange reserves, and declining inflation rate as evidence of improving macroeconomic stability.

Pakistan’s current account posted a surplus after 10 years, he said.

“This comes on the back of a 35% increase in remittances YoY,” said Aurangzeb, adding that remittances are expected to hit $35 billion by the fiscal year-end.

“Moreover, Roshan Digital Account (RDA) inflows have crossed $9 billion,” he said.

Aurangzeb noted that the country’s foreign exchange reserves, once covering only two weeks of import cover have increased to 2.6 months of import cover.

“We are optimistic that by the end of this fiscal, the forex reserves will touch 3 months of import cover.

“This is an important indicator for the rating agencies, as we want to move towards a single B rating,” the finance minister stated.
 
Prime Minister Shehbaz Sharif on Friday directed authorities to expedite the completion of Business Facilitation Centres across Pakistan.

As per a statement released by the Prime Minister’s Office (PMO), the directives from the PM came during a high-level review meeting on the progress of Board of Investment (BoI) projects and initiatives.

During the meeting, PM Shehbaz stressed the importance of regulatory reforms to ensure a business-friendly environment in Pakistan.

“A comprehensive and effective roadmap should be developed to finalise B2B agreements with international investors and implement signed MoUs,” he said.

According to the PMO statement, the premier emphasised that investment targets should be set in a manner that ensures swift achievement.

He noted that effective marketing of investment opportunities available in Pakistan is pivotal to attracting foreign investors, adding that initiatives including Business Facilitation Centres, and organisation of roadshows are crucial for attracting foreign investment.
 
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Circadian Rhythm said:
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Don't take any tweets from this guy seriously. He's just another anti-Pakistan PTI supporter making up and posting anti-Pakistan rubbish all the time.
 
Sindh Labour Board, Karachi charges bribe of Rs 20 000 from every new shop for online registration [ Have to renew every 2 years and hence, Rs 20 000 each time ] and Rs 10 000 every Six Months for inspection / visit approval, for every shop under their jurisdiction.

That is an additional cost of Rs 40 000 during the first year of opening your business in Karachi.

If you ask, they advise you or rather threaten you not go into the formalities of maintaining employee records [ Attendance / Leaves / Etc ] or else you could face legal consequences.

The kind of systemic and organized corruption at the Sindh government level is mind boggling, and they are not accountable to anyone.

And the servants of the people want foreigners to invest in Pakistan or rather Karachi, if you want to take advantage of the location of the port city.
 

Textile exports in first six months of FY25 up by 10% to $9.9bn​

If compared with exports of $1.47bn registered in same month of FY22, exports in July of FY25 tumbled by 14%​


By Khalid Mustafa
January 06, 2025



Workers operate a machine at a textile factory. — AFP/File
Workers operate a machine at a textile factory. — AFP/File
ISLAMABAD: The first half of the ongoing FY25 witnessed an increase of 10 percent in textile exports to $9.9 billion as compared to the exports of $8.29 billion in the same period of FY24.


However, FY25 showed a decrease of 3 percent in exports during the first six months if compared with exports of $9.39 billion registered in FY22. According to the latest textile trade figures, in the whole calendar year of 2024, the textile exports stood at $17.47 billion as against the exports of $16.07 billion during the calendar year 2023 showing an increase of 9 percent.

The trade data in the first 6 months of the current FY25 shows that in July 2024, the textile exports dipped by 3 percent to $1.27 billion as compared to exports of $1.31 billion in the same month of FY24.

However, if compared with the exports of $1.47 billion registered in the same month of FY22, the exports in July of FY25 tumbled by 14 percent.

However, in August of FY25, the exports increased by 13 percent to $1.64 billion as compared to exports of $1.46 billion in the same month of FY24. In September, the textile exports registered a reasonable hike by 18 percent to $1.61 billion as compared to $1.36 billion exports in the same month of FY24. In October, the exports stayed at $1.63 billion with an increase of 13 percent as against $1.44 billion in the same period of FY24.

In November, the exports stayed at $1.46 billion as compared to exports of $1.32 billion in the same month of FY24 showing an increase of 11 percent. However, if compared with exports of $1.74 billion registered in November of FY22, the exports in the same period of FY25 have decreased by 16 percent to $1.46 billion.

Likewise, the exports in the months of December have surged by 11 percent to $1.48 billion as against $1.40 billion exports in the same month of December of FY24, but the exports have decreased by 9 percent if compared with exports of $1.62 billion of FY22.

www.thenews.com.pk

Textile exports in first six months of FY25 up by 10% to $9.9bn

ISLAMABAD: The first half of the ongoing FY25 witnessed an increase of 10 percent in textile exports to $9.9 billion as compared to the exports of $8.29 billion in the same period of FY24.However,...
www.thenews.com.pk www.thenews.com.pk
 
Pakistan Space Agency said:
Don't take any tweets from this guy seriously. He's just another anti-Pakistan PTI supporter making up and posting anti-Pakistan rubbish all the time.
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So you are saying that there are regular flights on all these airports.
 
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