Foreign direct investment (FDI) plunged 45 per cent year-on-year to $95 million in February, reported the State Bank on Monday. However, the FDI during July-February FY25 increased by 41pc to $1.618bn compared to $1.147bn a year ago. The government is working to attract foreign investments, but the increasing terrorism is damaging the country’s image and discouraging potential investors.
Pakistan and the United Arab Emirates (UAE) on Monday reaffirmed their commitment to expand bilateral cooperation in the railway sector and other economic domains. Federal Minister for Railways Hanif Abbasi met with Ahmed Al-Tahiri, the First Secretary of the United Arab Emirates to Pakistan, at the Ministry of Railways. During the meeting, both dignitaries discussed the strong bilateral rel
Amidst alarm over the hiring of a US-based company for digitalisation of tax system in the country, Finance Minister Muhammad Aurangzeb on Monday told the National Assembly that McKinsey and company was selected after a “transparent competitive” process. MQM-P lawmaker Syed Hafezuddin while speaking on a calling attention notice had pointed out that the New York-based company had subsidiaries f
The falling interest rate has further raised auto financing to Rs249 billion at the end of February from Rs241.6bn in January. Buyers are turning towards leasing by the banks for new and used vehicles after a steep drop in interest rate to 12 per cent from 22pc in the last eight months. Auto financing started improving in August 2024, when it was Rs227.3bn. In June 2022, auto financing was at i
The two state-owned entities — Oil and Gas Development Company Ltd (OGDCL) and Mari Energies Ltd (MEL) — on Monday announced separate oil and gas discoveries in Punjab and Khyber Pakhtunkhwa, respectively. In a statement, OGDCL, the country’s largest exploration and production company, announced a significant gas and condensate discovery at its Soghri North-1 well in the Soghri Block, located i