Already hard-pressed by the imposition of an 18 per cent sales tax, the local cotton industry is panicky about reports of a review of GSP+ status by the European Union. The status was granted by the European Union in 2014, which led to a 108pc hike in Pakistani textile exports to the EU due to concessional tariffs. In October 2023, the European Parliament unanimously voted to extend the GSP+
Pakistan Stock Exchange (PSX) on Monday lost significant ground as it shed over 1,500 points, thanks to the global market decline following US President Donald Trump's tariff announcements for Mexico, Canada and China, potentially initiating a trade war. The KSE-100 index opened the day under pressure and it quickly descended. Although there was a slight recovery, where the index reached its in
In the international bullion market, the price of gold per ounce increased by $2, bringing the new global rate to an all-time high of $2,799 per ounce. Meanwhile, in the local market, the price of 24-karat gold per tola saw an increase of Rs200 on Monday, reaching a new rate of Rs292,400. Similarly, the price of 10 grams of gold rose by Rs171, bringing it to Rs250,685. Experts attribute this
Pakistan's consumer price index (CPI) inflation dropped to 2.41% year-on-year (YoY) in January 2025, marking its lowest level in 111 months, according to data released by the Pakistan Bureau of Statistics (PBS) on Monday. The inflation rate reflects a sharp disinflationary trend, down from 4.1% in December 2024 and significantly lower than 28.3% in January 2024. On a month-on-month (MoM) bas
Pakistan's trade deficit remained high at $2.3 billion in January 2025 after imports stayed above $5.2 billion for the second consecutive month, the national data collecting agency reported on Monday. Exports too exhibited a healthy growth momentum and stood close to $3 billion. But these are still not enough to plug the gap despite having restricted imports. Pakistan Bureau of Statistics (P