The number of passengers travelling by air increased 31 per cent to 4.2 billion in 2023, according to a report by the International Civil Aviation Organisation (ICAO). The number was over 3.2bn passengers in 2022 but slightly below the pre-pandemic levels of 4.5bn passengers in 2019. In its ‘2024 Safety Report’ released this week, the global aviation body said 2023 was the safest of the past
Considered an experienced hand when it comes to dealing with the international lender of last resort, Deputy Prime Minister Ishaq Dar has criticised the International Monetary Fund (IMF), accusing it of deliberately delaying disbursement of funds to the country after the Pakistan Democratic Movement took over the reins of the government from the PTI, leading many to speculate that Pakistan was on
Pakistan Stock Exchange (PSX) displayed range-bound movement and closed flat on Thursday as weak economic numbers and delay in approval of an International Monetary Fund (IMF) loan programme weighed on investor interest. The market exhibited considerable volatility, oscillating between the intra-day high of 79,154.30 and low of 78,578.02 points. Institutional investors resorted to profit-bookin
Pakistan's foreign exchange reserves held by the State Bank of Pakistan (SBP) rose by $33 million, reaching a 26-month high of $9.43 billion for the week ending August 30, 2024, according to the central bank's latest update. The continued growth in reserves over the past six weeks has bolstered the domestic currency, which appreciated by Rs0.10 to Rs278.67 against the US dollar in the interbank
Experts in Pakistan's blue economy believe that revitalising the maritime sector and adopting business-friendly policies could be a game-changer for the nation's economy. With 70% of global trade managed by ships, Pakistan's three major ports have the potential to transform the country's economic fateprovided that mismanagement, poor governance, and high port dues are addressed. Muhammad Najib