The current account deficit shrank 72.5 per cent on a year-on-year basis to $316 million for September, which is the lowest monthly figure since April 2021. According to data released by the State Bank of Pakistan (SBP) on Wednesday, the deficit for the first quarter of 2022-23 clocked in at $2.2 billion, down 37.4pc from a year ago. According to Arif Habib Ltd, the primary reason for the de
Finance Minister Ishaq Dar on Wednesday said he did not get any discouragement from Washington over possible cheaper oil imports from Russia and reassured the markets that Pakistan would meet all international obligations without default. Speaking on the sidelines of the All Pakistan Chartered Accountants Conference, Mr Dar, who just returned from the United States after a weeklong visit to at
Pakistan equities posted another range-bound session on Tuesday owing to the absence of triggers, said Ismail Iqbal Securities Ltd. The benchmark index traded in the positive zone despite lacklustre activity throughout the trading session because of the political instability. Investors’ participation remained sluggish as volumes continued to fall, said Arif Habib Ltd. Analyst Ahsan Mehanti s
After making its first-ever export shipment some 14 months back, Pakistan is likely to lose the second export order for smartphones mainly due to policy issues that have hindered the country’s export potential and restricted entry of global players too, say industry players. In a letter written to the Ministry of IT and Telecom, mobile manufacturers have pointed out that due to the restrictions
Oil prices fell by more than 3 per cent in volatile trade on Tuesday on fears of higher US supply amid an economic slowdown and lower Chinese fuel demand. Brent crude futures fell by $2.37, or 3.6pc, to $89.25 a barrel by 12:29 p.m. EDT (1629 GMT). US West Texas Intermediate (WTI) crude futures were down $3.12, or 3.7pc, at $82.34, having risen by over $1 earlier in the session. China, th