ISLAMABAD: Due to COVID-19, the scheduled flight operations to most of the parts of the country and the globe remained suspended. Pakistan International Airline Company (PIAC) revenues, approximately Rs82.6 billion, stood short of the target. It, however, operated special flights to facilitate stranded Pakistanis abroad, said Economic Survey of Pakistan released on Thursday. PIAC has […]

ISLAMABAD: Following the adverse impact of coronavirus pandemic, the reforms introduced by the Securities and Exchange Commission of Pakistan (SECP) and the government’s pro-growth policies are helping the capital market to withstand the pressure, said the Economic Survey of Pakistan released on Thursday. It said that during FY2021, Global equity markets, which plummeted in March […]

ISLAMABAD: After the COVID-19 outbreak, the State Bank of Pakistan (SBP) proactively reduced the policy rate by a cumulative 625 basis points (bps) from 13.25 percent to 7.0 percent, within almost 3 months between March and June 2020, said Economic Survey of Pakistan released on Thursday. The target of monetary policy was shifted towards supporting […]

ISLAMABAD: The fiscal sector has witnessed significant challenges due to additional expenditures made to lessen the negative impact of COVID-19, according to Economic Survey of Pakistan released on Thursday. It said that the government’s fiscal consolidation efforts provided significant support in maintaining fiscal discipline, increasing revenues and controlling expenditures, thus the fiscal sector continued to […]

ISLAMABAD: The agriculture sector has almost achieve growth target of 2.8 percent for the fiscal year 2020/2021, according to Economic Survey of Pakistan released on Thursday. The agriculture sector’s performance during 2020-21 broadly stands encouraging as it grows by 2.77 percent against the target of 2.8 percent. The growth of important crops (wheat, rice, sugarcane, […]

ISLAMABAD: Pakistan has surpassed GDP growth target of 2.1 percent and achieved 3.94 percent for fiscal year 2020/2021 despite strict fiscal constraints in the wake of COVID-19. The Economic Survey of Pakistan released on Thursday stated that the economy of Pakistan rebounded strongly in FY2021 and posted growth of 3.94 percent which is not only […]

ISLAMABAD: Pakistan has achieved GDP growth of 3.94 percent during outgoing fiscal year 2020/2021 owing to prudent policies adopted by the government amid hostile Covid-19 situation, which had hit hard the world economies, Finance Minister Shaukat Tarin said on Thursday while launching Economic Survey of Pakistan. The minister said that there were 2.1 percent growth […]