The Large-Scale Manufacturing (LSM) sector posted a modest growth of 2.29 per cent in May compared to the same month last year, according to data released by the Pakistan Bureau of Statistics on Tuesday. This marks the third consecutive month of positive growth, attributed largely to a significant cut in the key interest rate to 11pc. The LSM sector showed positive growth from December 2023 to
Bank lending to the government has exceeded Rs44 trillion, while lending to the private sector accounts for just 21 per cent of total advances, highlighting the growing imbalance in the country’s credit landscape. According to the latest data released by the State Bank of Pakistan (SBP), government borrowing from banks surged by Rs8.5tr in FY24 alone. In stark contrast, private sector lending f
The Asian Development Bank (ADB) has advised Pakistan to implement a uniform 5 per cent general sales tax (GST) for all digital transactions to encourage nationwide adoption of e-commerce platforms, reduce cash-related inefficiencies and document the economy. In its latest report on Pakistan’s Digital Ecosystem issued yesterday, the ADB cautioned that steep and inconsistent taxes on digital inf
Indonesia’s Defence Minister Lt Gen (retired) Sjafrie Sjamsoeddin expressed his country’s desire to boost defence ties and explore possible collaboration in defence production as he met with Prime Minister Shehbaz Sharif in Islamabad on Tuesday. Pakistan and Indonesia maintain strong bilateral relations rooted in shared religion and culture, with both countries cooperating in trade, education,
The Pakistan Stock Exchange (PSX) witnessed a positive trajectory on Monday, crossing the 136,000 barrier due to increased investor sentiment and improved economic outlook. The benchmark KSE 100 index surged by 2202.77 points, or up by 1.64 per cent, to close at 136,502.53 points. The stock market reached its highest intraday level of 136,841.49 points around 3:28pm. Prime Minister Shehbaz S