The country’s debt-to-GDP ratio dropped to 65.7 per cent in September, reversing last fiscal year’s upward trend, according to the latest data released by the State Bank of Pakistan (SBP) on Monday. The data shows a substantial increase in central government domestic debt, which rose by Rs7.838 trillion over the past year to reach Rs47.536tr in September 2024, up from Rs39.698tr in September 20
US and European stocks mostly climbed, while the dollar rose and bitcoin extended a record run on Monday, as traders took their lead from events in the United States and China. Chinese stock markets closed mixed and oil prices slid after China’s latest plans to stimulate its economy fell short of expectations. Wall Street’s three main indices pushed solidly into record territory at the openi
Amid a continuous downturn in demand for tractors, the sales of cars, LCVs, pickups and vans clocked in at 13,108 units in October, up by 27 per cent month-on-month (MoM) and 112pc year-on-year (YoY), thus pushing up sales by 50pc during 4MFY25 to 40,693 units. This increase in sales is primarily driven by improved auto financing and a general sense of optimism and stability in the market, Myes
Pakistan’s trade deficit with the Middle East widened 19.16 per cent to $3.706 billion in the first quarter of 2024-25 from $3.110bn owing to the rise in petroleum imports from the region. According to data compiled by the State Bank of Pakistan, the swelling trade gap would be a source of concern for policymakers. In FY24, the imbalance with the Middle East narrowed by 20.47pc to $13.014bn
The government has started consultations for the New Energy Vehicle (NEV) Policy 2025-30, aimed at revolutionising the country’s transportation sector to cut carbon emissions. In this regard, a meeting was held in the Ministry of Industries on Monday, attended by the automakers, and it was highlighted that the policy would focus on promoting local NEV manufacturing, decreasing reliance on fossi