Pakistan Business Council (PBC) has said that the International Monetary Fund’s previous programmes have suffered from short-term, front-loaded, mainly quantitative targets to manage the twin deficits without sufficient regard to their long-term qualitative impact on the reform agenda. “It is time we restore the sanctity of long-term plans and deal with fragmentation and silo-working of various
Used car dealers have urged the government to allow the commercial imports of cars up to 10 years old and SUVs up to 20 years, saying this would help the government earn handsome revenues and enable consumers to buy vehicles at affordable prices. Recommending different proposals for used vehicle imports, All Pakistan Car Dealers and Importers Association (APCDIA) Chairman Mian Shoaib Ahmed said
Amid an uncertain economic outlook with high downside risks, the private sector’s participation in economic growth remains unnoticeable as it is not borrowing from banks for business expansion. However, the Asian Development Bank (ADB) in its latest report sees Pakistan’s economy expanding at 1.9 per cent in FY24 driven by a rebound in investments by the private sector linked to progress on ref
As the auto market continues to grow in Pakistan, new players are setting their sights on introducing hybrid as well as electric vehicles (EVs) in the country, and one of the largest automakers has announced its entry into Pakistan. The BYD Group of China has recently announced its entry into the passenger vehicle market in Pakistan in collaboration with Mega Conglomerate Pvt Ltd, the parent co
The State Bank of Pakistan (SBP) has repaid $1 billion against euro bonds, creating goodwill for the bonds in the near future. Pakistan on Friday successfully made a payment of $1bn on an international bond, which included principal plus interest, the central bank said in a statement on Saturday. “The payment was made to the agent bank for onward distribution to the bond holders,” it added.