Services exports rose 13.43 per cent to $688.95 million in October against $607.37m in the corresponding month last year. The growth has returned since February this year mainly due to increased information technology exports, except in August, which saw a 6.5pc decrease. In rupee terms, the exports improved by 12.34pc to Rs191.3 billion in October against Rs170.281bn in the same month last
Finance Minister Muhammad Aurangzeb has expressed dissatisfaction with three provinces’ delay in passing new agriculture income tax laws. This new legislation is one of the conditions agreed upon with the International Monetary Fund as part of the 37-month $7 billion Extended Fund Facility. The finance minister reviewed several tax initiatives during the National Tax Council (NTC) meeting on We
The government borrowed Rs2 trillion through auctions of sukuk (Islamic bonds) at the stock exchange and raised another Rs1.4tr by selling Pakistan Investment Bonds (PIBs) during 2024. The government has been trying to restructure its debt profile by opting for long-term borrowing over short-term domestic bonds. “In 2024, the government raised Rs2tr from sukuk auctions using the PSX auction
The Pakistan Stock Exchange surged past 104,000 points on Tuesday, gaining more than 1,000 points a day after data showed inflation fell to a six-and-a-half-year low in November. The benchmark KSE-100 index rose 1,284.13 points, or 1.24 per cent, to close at 104,559.07. The market initially dropped sharply, falling 449 points in early trading, before rebounding to close above 104,000 points.
Pakistan’s merchandise exports slowed in November and fell into the single digit due to a reduction in international demand, according to data released by the Pakistan Bureau of Statistics on Monday. The growth momentum picked pace in July owing to improved orders from the international community and stability in the exchange rate. The exports grew 11.83 per cent in July, followed by 16pc in A