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Pakistan’s July 2024 exports increased by 11.83%.

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5 months ago

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According to a study released by the Pakistan Bureau of Statistics (PBS) on Friday, there was an 11.83% rise in Pakistan’s exports in the first month of the fiscal year 2024–25 by comparison with the same month the previous year.

The most recent statistics from PBS shows that in July 2024, exports totalled $2.308 billion, compared to $2.064 billion in July 2023.

However, compared to last July’s imports of $3.691 billion, imports into the nation climbed by 15.30 percent to $4.256 billion during the month.

Estimates for the trade deficit for the month under review reflect a 19.71 percent increase to $1.948 billion from the $1.627 billion deficit in the previous year.

Comparing June 2024’s exports of $2.558 billion to June 2024’s exports, the country’s monthly exports fell by 9.77 percent.

As compared to the $4.964 billion in imports in June 2024, the imports likewise saw a fall of 14.27%, according to PBS.

However, for the fiscal year 2023–2024, the value of services exported rose by 2.7%, from $7.595 billion to $7.806 billion.

Additionally, there was a 17.14% surge in services imports this year, rising from $8.638 billion to $10.119 billion.

The data indicates that the trade deficit for services increased by 121.76 percent from $1.043 billion in July–June (2022–2023) to $2.313 billion in July–June (2023–24).

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Maintaining Fertiliser Price Stability: The Need for a Continuous Gas Supply to the Fertiliser Sector

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6 days ago

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To guarantee fertiliser price stability, a cabinet committee meeting was presided over by Senator Muhammad Ishaq Dar, the deputy prime minister.

Senior government officials, including Industries Minister Rana Tanveer Hussain, attended the meeting.

The attendees received an update on the government’s, gas suppliers’, and fertiliser industry’s conversations. Additionally, the gas supply for the fertiliser sector was evaluated and determined to be adequate.

Throughout the Rabi cropping season, the Deputy Prime Minister ordered the fertiliser industry to maintain a continuous gas supply in order to guarantee steady production and stock levels.

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Fifth Straight Cut: PM Applauds SBP’s Policy Rate Reduction

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6 days ago

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Prime Minister Muhammad Shehbaz Sharif has praised the State Bank of Pakistan’s decision to lower its policy rate by an additional 2 percent, stating that the bank’s current 13 percent rate is encouraging for the nation’s economy.

He expressed optimism in a statement that the policy rate cut would encourage investment and further boost investor confidence in the country’s economy.

The prime minister said that decreasing the inflation rate also lowered the policy rate and that future inflation rate reductions will be even more pronounced.

Additionally, he expressed gratitude to the Federal Finance Minister and other officials for their work in this area.

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GHQ Attack Case: Prosecution Seeks Bail Cancellation of CM KP & Other Accused, Indicts 9 More

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25 defendants, including PTI officials, have non-bailable arrest warrants issued by the Anti Terrorism Court of Rawalpindi for their failure to show up for court proceedings related to the GHQ attack case.

Judge Amjad Ali Shah added nine more suspects to the GHQ attack indictment list during today’s ATC Court sessions, bringing the total to 98.

Among the 61 defendants who appeared in court were Shah Mehmud Qureshi and the founder of the PTI.

Among those charged are Khadim Hussain Khokhar, Mehr Mohammad Javed, Chaudhary Asif, Zakir Ullah, Azeem Ullah, Shireen Mazatri, Major Retired Tahir Sadiq, and former MPA Rashid Hafeez.

A plea to cancel the bail of 23 suspects, including Chief Minister Khyber Pakhtunkhwa, has also been filed by the prosecution side.

In the GHQ attack, there were 119 accused in total.

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