The idea that devaluations make a country's goods more "competitive" is pure gold to governments. Enhanced "competitiveness", in turn, is believed to increase exports and reduce imports, thereby improving the country's trade account, employment, balance of payments and domestic budget. Governments also believe that changing the value of their country's currency will, in some way, go unnoticed i
In its upcoming monetary policy meeting scheduled for Friday, September 12, Pakistan's central bank is widely anticipated to make a third consecutive cut in its key policy rate. The reduction, expected to be in the range of 1% to 1.5%, follows a decline in inflation to single digits in August and aims to support economic activity in the fiscal year 2024-25. There is potential for a larger cut g
Pakistan's economy is poised to enter a sustainable growth phase after achieving recent stability. This is evident as renowned global credit rating agencies, including Fitch and Moody's, upgraded Islamabad's credit rating in July and August. These upgrades acknowledge that Pakistan has navigated out of economic and financial dangers, averting a major risk of default on foreign debt repayments betw
Pakistan exported approximately $38 billion worth of goods and services in FY24, an increase from around $35 billion in FY23, according to the Pakistan Bureau of Statistics. While service exports remained relatively stable, rising from $7.6 billion to $7.8 billion, the export of goods grew by $3 billion. The Information and Communications Technology (ICT) sector, often lauded as the second-largest
Local prospective buyers of Pakistan International Airlines (PIA) have demanded protection that is currently available to foreign investors under an Act of parliament and have also sought complete exemption from taxes applicable to air travel, fuel and the lease of aircraft. Privatisation Commission sources told The Express Tribune that some of the shortlisted parties had placed their demands b