India’s restrictions on rice exports have paralysed trading in Asia, with buyers scouring for alternative supplies from Vietnam, Thailand and Myanmar where sellers are holding off on deals as prices rise, industry officials said. India, the world’s biggest exporter of rice, banned shipments of broken rice and imposed a 20% duty on exports of various other types on Thursday as the country tries
The Pakistani rupee has continued to face battering on the seventh consecutive working day, shedding 0.715% (or Rs1.64) on a day-to-day basis to close at a five-week low of Rs229.82 against the dollar in interbank market on Monday. The currency had closed at Rs228.18 against the greenback on Friday, according to the central bank. Currency dealers at the open market continued to sell the dome
Some 27 projects worth $19 billion have so far been completed under the China-Pakistan Economic Corridor (CPEC) while 63 more with investment of $35.2 billion are scheduled to be completed by 2030, a report titled “Overview of Pakistan’s Power Sector and its Future Outlook” issued by the China Three Gorges South Asia Investment Ltd (CSAIL) revealed. According to the report, 27 projects are at i
Pakistan on Monday feared that floods might have caused over $40 billion in economic losses and damages as the National Flood Response Coordination Centre (NFRCC) dismissed the initial assessment of $18 billion. The $40 billion losses were flagged in a flood response centre meeting during discussion on an interim report titled “An Early Assessment of Flood Impact on Pakistan’s Economy”, present
The recent flash floods, induced by climate change, have damaged an estimated 8.3 million acres of crops, with over 3.4 million acres of crops being affected in Sindh alone. The floods have also destroyed essential vegetable commodities all over the country. The agriculture sector contributes around 23% to Pakistan’s GDP and 37% to labour force employment. Speaking to The Express Tribune Sindh