Business leaders and industrialists strongly criticised the insufficient 2% cut in the interest rate announced by the State Bank of Pakistan (SBP) on Monday, describing it as a disappointing initiative. They urged the government to review the decision immediately in the larger interest of economic growth. Leading business leader and Pakistan Stock Exchange (PSX) Director Ahmed Chinoy said the g
US businesses in Pakistan are playing a pivotal role in fostering economic growth, creating jobs, and promoting women's empowerment, according to remarks shared during a gathering of the American Business Forum (ABF) in Lahore. As per a press statement released on Monday, over 80 US companies operating in Pakistan employ 120,000 workers directly and support over a million indirectly, driving lo
Gold prices in Pakistan fell on Monday, mirroring a decline in the international market. The price of gold per tola in the local market dropped by Rs800, settling at Rs277,000. This follows a significant Rs5,000 drop per tola in the previous trading session. On the global front, gold prices fell by $8 per ounce, with the international rate standing at $2,658 per ounce, as reported by the All-Pakis
Pakistan medical fraternity has called for locally manufacturing medical devices to reduce the country's reliance on imports, with 98% of devices currently being imported. The government must encourage made-in-Pakistan products and prioritise the emerging indigenous medical device industry to cut the import bill and boost exports, leveraging the country's reputation as the "land of competent docto
The industrialists, who have been affected by illicit trade and smuggling for decades, observed that although the government's measures have shown promising results for certain industries, the scale of smuggling in Pakistan remains alarmingly high. They emphasised that the country is still grappling with only the tip of the iceberg. To truly combat this issue, effective enforcement must be pair