Overseas Investors Chamber of Commerce and Industry (OICCI) member companies have injected $22.6 billion into Pakistan’s economy during the last 10 years, according to the chamber’s 2023 annual economic contribution survey. With the contribution of $22.6bn in the last 10 years, the 139 OICCI member companies reported assets amounting to Rs29.6 trillion, capital expenditure of Rs482bn, governmen
Pakistan Railways (PR) is looking to outsource the commercial operation of 22 more trains. However, previous experiences, such as a leading firm’s failure to run the Business Express due to financial constraints, raise concerns about the possibility of the plan’s success. Additionally, another firm stopped operating the Bahauddin Zakaria Express (Multan-Karachi-Multan) for administrative, finan
Policy Research and Advisory Council (PRAC) Chairman Mohammad Younas Dagha has urged the State Bank of Pakistan (SBP) to bring down its policy rate to 17.5 per cent from 19.5pc. He said this would keep the real interest rate positive within a range of 2.4-3.4pc, as per the International Monetary Fund’s requirement. According to a PRAC press release issued on Tuesday, Mr Dagha said the govern
The Senate Standing Committee on Power on Tuesday asked the government to conduct a comparative analysis of electricity tariffs in neighbouring and regional countries since huge power bills have made electricity unaffordable for an average person in Pakistan. The committee chairman, Senator Mohsin Aziz, emphasised the importance of resolving issues with independent power producers (IPPs), which
The grey currency market — which functions outside the ambit of regular remittances channels — has reemerged due to an uptick in the smuggling of dollars to neighbouring countries, experts have said. The market is attracting about $500 million per month by offering an exchange rate of Rs4 per dollar higher than the official rate, according to the Exchange Companies Association of Pakistan Gener