Tag: Pakistan Economy
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Petrol and Diesel Prices Rise Ahead of Fortnightly Review: What It Means for Consumers
Overview: A Fresh Increase in Fuel Prices In a move approved by the government after recommendations from the Oil and Gas Regulatory Authority (OGRA) and consultations with relevant ministries, petrol and diesel prices have been increased ahead of the upcoming fortnightly review. The adjustment sees petrol rising by Rs 2.43 per litre and diesel by…
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PSX Rises on Geopolitical Optimism and Earnings Speculation
Market turns higher amid geopolitical optimism The Pakistan Stock Exchange (PSX) extended gains on Friday as investors basked in a brighter risk environment. Trading activity picked up after reports suggested that Pakistan and Afghanistan had agreed to uphold a ceasefire, a development viewed by market participants as reducing near-term regional tensions. The prospect of a…
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Saudi Arabia Extends $1 Billion Oil Facility to Pakistan as Deposits Are Rolled Over
Saudi Arabia Pledges $1 Billion Oil Financing Facility to Pakistan In a move that underscores the strengthening economic ties between Saudi Arabia and Pakistan, Riyadh has pledged to extend a $1 billion oil financing facility to Pakistan for the 2025–26 fiscal year. Finance ministry officials in Islamabad said the commitment will help Pakistan meet its…
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Reko Diq Revival Nears Life with $3.5B Financing Deal
Pakistan Moves Closer to Reco Diq Revival with a $3.5 Billion Financing Deal The long-awaited revival of the Reko Diq copper and gold project in Balochistan took a significant step forward as Pakistan finalised a $3.5 billion financing package with six major international financial institutions. The agreement signals a milestone for one of the country’s…
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Shifting Tides: Procter & Gamble Exits Pakistan as Investment Pullback Grows
Procter & Gamble Announces Pakistan Exit: Timeline and Scope In a move that underscores the evolving investment climate in Pakistan, Procter & Gamble (P&G), the American consumer goods powerhouse, announced on Thursday that it will wind down its production and commercial operations in the country. The decision places P&G among a growing list of multinational…
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Procter & Gamble Exits Pakistan, Leaving Market in Flux
Procter & Gamble Exits Pakistan: What Has Changed In a move that aligns with recent exits by several multinational firms, Procter & Gamble (P&G) has announced it will wind down its operations in Pakistan. The U.S.-based consumer goods giant said it would cease production and commercial activities in the country, exiting a market that it…
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Pakistan’s IMF Loans: Review Begins as Islamabad Seeks Measures to Meet Targets
IMF Review Kickoff: What the Mission Is Seeking to Achieve The International Monetary Fund (IMF) has begun formal discussions with Pakistan’s economic authorities to review the implementation of a $7 billion Extended Fund Facility (EFF) and a $1.1 billion Resilience and Sustainability Facility (RSF). The two-week mission, launched as Pakistan’s performance under the program through…
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RCCI Advocates for Policy Rate Cut in Pakistan
Understanding the RCCI’s Recommendation The Rawalpindi Chamber of Commerce and Industry (RCCI) has made a bold recommendation to the State Bank of Pakistan (SBP) for a significant cut in the policy rate. The chamber has pointed out that a reduction of at least 3% could potentially stimulate economic activity and foster financial stability within the…
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Economic Impact of Punjab Floods on Agriculture
Introduction In recent weeks, Punjab, Pakistan’s most populous province and agricultural backbone, has faced devastating floods caused by relentless torrential rains. These natural disasters have wreaked havoc on the region, affecting approximately 4.3% of the cultivated land. Experts are increasingly concerned that the damage to farmland will have long-lasting repercussions on the country’s economy. Flood…
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Pakistan’s Forex Reserves Increase: September Update
Overview of Pakistan’s Forex Reserves As of September 5, 2023, Pakistan’s foreign exchange reserves held by the State Bank of Pakistan (SBP) witnessed a modest increase of $34 million, bringing the total to approximately $14.34 billion. This rise is significant considering the economic challenges the country has faced in recent years. Current Status of Total…