Pakistan’s gross domestic product (GDP) and per capita income increased in dollar terms during 2023-24, indicating a revival in the country’s overall output compared to the previous year. However, the economy’s size remains lower than $375.449 billion recorded in FY22, indicating that GDP growth has slowed under the PMLN-led coalition government. On Wednesday, the National Accounts Committee (N
The Central Development Working Party (CDWP) on Wednesday approved seven development projects worth Rs23 billion and recommended four projects to the Executive Committee of the National Economic Council (Ecnec) for consideration. Among these, three projects are worth Rs82.24bn, while the fourth project, Main Line (ML-1), costing $6.7bn, has been recommended to Ecnec for further consideration.
Unprecedented onion exports fetched $210 million during July-April FY24 at the cost of inflation-hit consumers who paid record prices for the vegetable. “Onion exports may soar to $250m by the end of the current fiscal year,” claimed All Pakistan Fruit and Vegetable Exporters Association Patron-in-Chief Waheed Ahmed, dispelling market impression that higher exports have caused a price flare-up
Despite enduring a lacklustre session, the Pakistan Stock Exchange (PSX) closed higher on Tuesday, driven by speculation ahead of the announcement of federal budget for 2024-25 in the first week of June. The KSE-100 index dipped to the intra-day low of 74,958.09 points in the morning in the absence of major positive triggers. Later, it gradually climbed up along with minor fluctuations. The
Despite aggressive foreign selling, the benchmark KSE 100 index shrugged off overnight negative sentiments and closed in the green on Tuesday. Ahsan Mehanti of Arif Habib Corporation said stocks closed higher on speculation ahead of the federal budget FY25, to be unveiled on June 7. He added that a strong earnings outlook, upbeat World Bank forecast for 15pc inflation for FY25, current accou