Services’ trade deficit shrinks 26.22% as exports grow by 4.63% in Q1
The services trade deficit shrank by 26.22 percent as exports witnessed growth of 4.63 percent during the first quarter (Q1) of the current fiscal year as compared to the corresponding period of last year. The exports from the country during July-September (2022-23) were recorded at $1,694.96 million against the exports of $1,619.93 million in July-September…
Adil Aziz
SBP signs MOU with PBoC on establishing RMB clearing arrangements
State Bank of Pakistan (SBP) and Peoples Bank of China (PBoC) have signed an MOU on establishing RMB (Chinese currency) clearing arrangements in Pakistan. The MOU was signed by Governor SBP Mr. Jameel Ahmad and Governor PBoC Mr. Yi Gang. The establishment of the RMB clearing arrangement in Pakistan will further boost usage of RMB…
PSX stays bullish, gains 135 points
The 100-index of the Pakistan Stock Exchange (PSX) continued with bullish trend on Wednesday, gaining 135.90 points, a positive change of 0.33 percent, closing at 41,944.59 against 41,808.69 points on the last working day. A total of 230,561,335 shares were traded during the day as compared to 192,142,149 shares the previous day, whereas the price…
The Last Date for Encashment of Withdrawn Prize Bonds Extended
The Federal Government has given another opportunity to the public to get the withdrawn prize bonds of Rs.7500, 15,000, 25,000 and Rs. 40,000 redeemed/encashed by June 30, 2023. Earlier, the government had fixed deadline of June 30, 2022, for redemption/encashment of these prize bonds, however, considering that some of the prize bond holders could not…
Pakistan earns $179 Million by exporting transport services in 2 months
Pakistan earned US $179.940 million by providing different transport services in various countries during the first two months of current fiscal year (2022-23). This shows growth of 104.55 percent as compared to $87.970 million earned through provision of services during the corresponding period of fiscal year (2021-22). During the period under review, the exports of…
Leading Chinese companies accept PM’s offer to invest in Pakistan’s solar, infrastructure projects
The leading Chinese companies during the official visit of Prime Minister Shehbaz Sharif to China have shown their keen interest to invest in Pakistan’s solar, water and other infrastructure projects. The prime minister invited the Chinese corporate heads to visit Pakistan and invest in the government’s comprehensive solar power project aimed at generating 10,000 mega watt electricity….
CAD declines to $2.2 billion in 1st Quarter
The Current Account Deficit (CAD) declined to $ 2.2 billion during the first quarter (Q1) of the current fiscal year as compared to the deficit of $3.5 billion recorded during the corresponding period (July-September) of the fiscal year 2021-22. The CAD mainly contracted due to increase in exports and contraction in imports during July-September (2022-23)….
PSX stays bullish, gains 544 points
The 100-index of the Pakistan Stock Exchange (PSX) continued with bullish trend on Tuesday, gaining 544.03 points, a positive change of 1.32 percent, closing at 41,808.69 against 41,264.66 points on the last working day. A total of 192,142,149 shares were traded during the day as compared to 97,476,761 shares the previous day, whereas the price…
Pakistan, Kazakhstan to broaden ties in field of Science and Technology
Federal Minister for Science and Technology, Agha Hassan Baloch and the Ambassador of the Republic of Kazakhstan, Yerhan Kistafin in a meeting held here Tuesday reaffirmed their firm resolve to broaden ties in the field of Science, Technology, Innovation and Research. They discussed various measures to strengthen the bilateral ties of brotherly states in areas…
UK announces project for Pakistan’s climate finance accelerator initiative
The UK has announced that seven innovative low-carbon projects from across Pakistan will be part of the first cohort of projects for the Climate Finance Accelerator (CFA), Pakistan. The chosen projects, selected from over 50 applications, were from the energy, transportation, Agriculture, Forestry and other Land Uses (AFOLU), waste, e-mobility, and industrial and manufacturing sectors….