Prime Minister Shehbaz Sharif has set an ambitious $25 billion IT export target in five years amid better utilisation of resources and provision of training and education to the workforce. The premier, who chaired a review meeting on IT sector reforms, expressed hope that the estimated target will be met. An official announcement of the PMO said that the Ministry of Information Technology (I
Short-term inflation, measured by the Sensitive Price Index (SPI), was 4.92 per cent year-on-year in the week ending Nov 21 owing to surging vegetable and edible oil prices. The SPI-based inflation reversed to a modest increase after three straight weeks of decline on an annual basis. On week-on-week, it increased by 0.67pc, Pakistan Bureau of Statistics data showed on Friday. After brief st
The International Monetary Fund approved the third review of Sri Lanka’s $2.9 billion bailout on Saturday but warned that the South Asian economy remains vulnerable. In a statement, the IMF said it would release about $333m, bringing total funding to around $1.3bn, to the crisis-hit nation. It said signs of an economic recovery were emerging. The country still needs to complete a $12.5bn bo
Exports of non-textile products rose by 17.66 per cent to $4.73 billion in the first four months of the current fiscal year, up from $4.02bn during the same period last year, largely driven by the growth of value-added products. The main driver of non-textile product exports is raw food items and a few value-added products, including leather, footwear and engineering, during 4MFY25, from a year
Despite placement of containers on main arteries between Rawalpindi and Islamabad, Saturday remained normal in the garrison city. However, uncertainty prevailed in the downtown and cantonment areas ahead of the protest on Sunday. A senior official of the local administration told Dawn that placing containers at some entry points of the city was a preventive measures to avoid any untoward situat