The Oil and Gas Regulatory Authority (OGRA) has declared a substantial decrease in petroleum product prices in Pakistan, providing essential assistance to customers nationwide. The move, made in the context of volatile global oil prices, is anticipated to alleviate inflationary pressures and offer economic respite to both businesses and individuals. The recent revisions have resulted…
Pakistan is experiencing a huge economic setback as a result of the suspension of commerce with Iran, which results in a daily loss of around $2.2 million. A number of important industries, including agriculture, energy, and textiles, are being impacted by the disruption, which is caused by banking and logistical limitations. The continuous restrictions are…
Pakistan is considering the formation of a National Crypto Council to oversee and possibly embrace digital currency. This action indicates a change in the nation’s position on cryptocurrencies, which has encountered regulatory ambiguity in previous years. The proposed council would supervise the incorporation of digital assets into the financial system, assuring adherence to international standards…
The State Bank of Pakistan (SBP) has strategically enhanced its foreign exchange reserves by acquiring $4.98 billion from the market. This project seeks to bolster Pakistan’s economic stability, enabling the nation to more effectively manage foreign debt obligations and sustain a stable exchange rate. This action indicates the SBP’s endeavor to maintain the rupee, enhance…
Pakistan’s Finance Minister has indicated the likelihood of a slight increase in inflation in March, citing factors such as global economic trends, currency fluctuations, and domestic supply chain challenges. While inflation has shown signs of stabilization in recent months, the anticipated rise is attributed to seasonal price adjustments, energy costs, and international commodity rates. The…
The recent implementation of an 18% General Sales Tax (GST) on net metering in Pakistan has elicited apprehensions regarding its potential effects on the nation’s burgeoning solar energy sector. Net metering, which permits solar panel users to sell surplus electricity back to the grid, has been a significant catalyst in the extensive adoption of solar…
The UK government has urged Pakistani enterprises to enhance their international presence by utilizing the United Kingdom as a strategic base. A top UK official highlighted that Pakistani businesses may leverage the UK’s strong financial services, sophisticated infrastructure, and access to international markets to expand their activities beyond local confines. Establishing commercial connections in the…
Bangladesh has resumed direct trade with Pakistan for the first time since its independence in 1971, initiating this renewed economic relationship with the import of 50,000 tonnes of rice. The initial shipment of 25,000 tonnes has already departed from Port Qasim, with the remaining 25,000 tonnes scheduled for dispatch in early March. This trade agreement,…
Indonesia has dramatically altered its meat import strategy by opting to procure buffalo meat from Pakistan instead of India. This decision signifies a shift in trade dynamics and may significantly affect the economies concerned. India has been a principal supplier of buffalo meat to Indonesia for years, maintaining a dominant market position. Nevertheless, a confluence…
A major deal between China and Pakistan aims to improve agricultural cooperation, especially in the production of wheat. This agreement, which focuses on setting up a wheat research center in Pakistan, is a significant step in fortifying both countries’ agricultural industries. The deal is a component of a larger initiative to solve issues related to…
