Pakistan’s cotton yarn exports to China reached $166.37 million, an increase of 65.85%, in the first quarter of 2024, according to statistics of the General Administration of Customs of the People’s Republic of China (GACC). In the first quarter (January-March) of the current calendar year, imports of “uncombed single cotton yarn containing 85% or above” (commodity code 52051200) from Pakistan
When Pakistan’s government imposed restrictions on imports to reduce the country’s trade deficit in 2022, it did not deter the inflow of goods – it encouraged substitutes and possibly smuggling, which is growing at 18% annually. In particular, the large-scale manufacturing firms and multinational companies were negatively impacted, whereas small-scale firms and commercial importers managed to f
The toll from over 80% of sick units has significantly impacted all key sectors nationwide. The escalating closures of these units have left millions of skilled and semi-skilled workers, along with professionals, jobless due to the high costs of doing business, including steep gas and electricity tariffs. The proliferation of sick units has stunted industrial growth and eroded the quality of li
The government is preparing to negotiate a new Extended Fund Facility (EFF) loan from the International Monetary Fund (IMF) and intends to reach a staff-level agreement within the next two to three months. The IMF asserts that the primary responsibility for selecting, designing and implementing policies lies with borrowing from member countries, not the IMF itself. It is also claimed that the o
The rising expectation of an interest rate cut following a steep deceleration in inflation and a stable rupee on surging remittances drove the benchmark KSE 100 index to an all-time high in the outgoing week. Optimism about a further deceleration in CPI inflation in the current month and the expectation of positive talks with the IMF team next week, which would mark the start of formal negotiat