Before the pandemic, the number of point-of-sale (POS) machines in the country was pretty much stagnant. A POS machine uses a credit card or a debit card to process a payment instead of cash, according to data from the State Bank of Pakistan’s latest Payment Systems Quarterly Review. Covid-19 turbo-fueled the country’s drive towards digital adoption. The pandemic and the Russia-Ukraine war led
Pakistan’s quest for economic stability continues, with some indicators showing significant improvement while others depict the plight of the common man. Inflation has come down to below 5pc, and the State Bank of Pakistan (SBP) has celebrated it with another two percentage points cut in interest rate of 13 per cent. The current account maintains its surplus, with exports of goods and services gro
Pakistan’s energy sector stands at a crossroads, crippled by a circular debt of almost Rs6 trillion as of now — a crisis threatening the country’s economic and energy security. Circular debt is the amount that the power purchaser cannot recover from electricity distribution companies (Discos) and subsequently fails to pay to the independent power producers (IPPs). Although the circular debt emerge
US President-elect Donald Trump’s return to the White House is compelling countries across the whole spectrum of the United States’ major trading partners — China and Europe included — to recalibrate their economic policy. His pledge to impose additional tariffs exceeding 60 per cent on Chinese goods and up to 20pc on imports from Europe and the rest of the world to protect American manufacturers
Pakistan Stock Exchange (PSX) endured yet another day of massive selling on Thursday as it nosedived nearly 4,800 points – the largest single-day drop in the bourse's history. A highly volatile trading session left investors puzzled, which came after a recent prolonged record-breaking spree. The biggest single-day slump followed Wednesday's record fall of 3,790 points, when investors resorted t