Karachi, July 20, 2024 – Pakistan has experienced a remarkable 153 percent increase in total foreign investment during the fiscal year 2023-24. According to the State Bank of Pakistan (SBP), the total foreign investment soared to $1.52 billion, up from $601 million in the preceding fiscal year.
(more…)Author: Shahnawaz Akhter
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KCCI Demands Review on Unjust Tax Measures, Energy Tariffs
Karachi, July 19, 2024 – The Karachi Chamber of Commerce and Industry (KCCI) has issued a stern demand for the government to reassess its taxation policies and energy tariffs, citing severe repercussions on various sectors of the economy.
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CAD Shrinks by 80% to $681 Million in FY24: SBP
Karachi, July 19, 2024 – Pakistan’s Current Account Deficit (CAD) has dramatically narrowed by 80 percent, plummeting to $681 million in the fiscal year 2023-24, according to a report released by the State Bank of Pakistan (SBP) on Friday.
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DG Khan Cement Expands Horizons with New Subsidiary in USA
Karachi, July 19, 2024 – DG Khan Cement Company Limited, a leading name in Pakistan’s cement industry, has announced plans to establish a subsidiary in the United States. The decision was communicated to the Pakistan Stock Exchange (PSX) on Friday.
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Bank Deposits in Pakistan Hit Historic High at Rs 31.12 Trillion
Karachi, July 19, 2024 – Bank deposits in Pakistan have soared to an unprecedented Rs 31.12 trillion, as reported by the State Bank of Pakistan (SBP) on Friday. This marks a significant 22 percent increase from the Rs 25.51 trillion recorded at the end of June 2023.
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SBP Releases Payment System Report for 3QFY24
Karachi, July 19, 2024 – The State Bank of Pakistan (SBP) has released its Quarterly Payment Systems Report for the third quarter (January-March) of the fiscal year 2023-24, offering a comprehensive review of the country’s payment landscape.
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Weekly Forex Reserves Rise by $59 Million: State Bank of Pakistan
Karachi, July 18, 2024 – The State Bank of Pakistan (SBP) announced on Thursday that the country’s weekly foreign exchange reserves have increased by $59 million. For the week ended July 12, 2024, the forex reserves rose to $14.704 billion, up from $14.645 billion a week earlier on July 5, 2024.
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ICMAP Highlights Adverse Budget Impact on Exports
Karachi, July 18, 2024 – The Institute of Cost and Management Accountants of Pakistan (ICMAP) has identified an overall negative impact of the 2024-25 budget on the country’s exports. In its comprehensive review of the budget’s impact across various sectors, the ICMAP highlighted several key concerns that could significantly affect Pakistan’s export performance.
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KATI Warns of Crisis Amid Hikes in Petrol, Electricity Prices
Karachi, July 18, 2024 – The Korangi Association of Trade and Industry (KATI) issued a grave warning on Thursday regarding a potential economic crisis, following significant increases in petrol and electricity prices. The association’s president, Johar Qandhari, strongly opposed the government’s recent decisions to raise these essential costs, emphasizing their detrimental effects on the industrial sector.
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Pakistan Stock Market Achieves New Milestone at 81,840 Points
Karachi, July 18, 2024 – The Pakistan stock market reached a new milestone on Thursday, achieving a record high of 81,840 points. This marks a historic moment for the Pakistan Stock Exchange (PSX), surpassing the previous record of 81,156 points set earlier this week.
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