Islamabad, Nov 4: With the new IMF program, Pakistan’s economy is steadily stabilizing as fiscal accounts are consolidating, inflation is steeply declining, and external accounts are showing significant improvement. However, Topline Securities stated in research that growth is anticipated to stay moderate due to slower expansion in agriculture. According to the Governor State Bank’s statement in one of the analyst conferences, Pakistan’s external repayments (net of rollover and refinances) are anticipated to reach US$ 10 billion for FY25. The gross financing demand (net of rollover/refinances) is anticipated to be US$ 11.3 billion, a manageable sum, given the projected US$ 1.3…
Author: Mawadat Fatima
Islamabad, Nov 4: Pakistani Airline Launches Direct Flights to Saudi Arabia with New Weekly Service Weekly flights from Islamabad to Riyadh have been launched by Air Sial, and flights from Lahore to the Saudi capital are soon to follow. Air Sial said in a news release on Sunday that the Pakistani airline has started operating two weekly flights from Islamabad to Riyadh. The administration also disclosed that there will soon be flights from Lahore. In addition, Pakistan’s Welfare Attaché, Rana Muhammad Masoom, officially opened Air Sial’s regional office in Riyadh on Thursday. The ceremony was attended by the airline’s regional…
Islamabad, Nov 4: Cotton Import Bill to Rise 3.9x in FY25 as Local Production Falls by 37% As of October 31, 2024, Pakistan received 4.29 million bales of cotton, a 37 percent decrease year-over-year (YoY) from 6.79 million bales the previous year. Due to limited production, Arif Habib Limited predicts that the cost of importing cotton will increase by 3.9 times during the current fiscal year. Poor farmer economics and postponed cotton crop sowing have been blamed for the decline in cotton arrivals. 205,000 tons, or 1.2 million bales, were imported by the nation last year, totaling $448 million. There…
Islamabad, Nov 4: Pakistan Fall to Sri Lanka in Sixes Final Sri Lanka won the 2024 title after defeating Pakistan by three wickets in the Hong Kong International Sixes Final. After an incredible competition, Pakistan was unable to get going in the summit match as the Sri Lankan squad reached the finish line with six balls remaining, chasing a modest goal of 73 runs. Lihuru Madhusanka, the captain of Sri Lanka, chose to bowl first after winning the toss, and it worked out well because his bowlers shut down Pakistan’s batting order. Muhammad Akhlaq scored a heroic 48 runs off…
Islamabad, Nov 4: Currently the federal government has suggested the reforms the Act pertaining to the State Bank of Pakistan (SBP) for legalizing digital currencies in the nation. The intended changes will open the way to using digital currencies, such as cryptocurrencies, for payments. Approved steps could go as far as making these flagship coins like Bitcoin legally recognized. The proposed amendments also provide legal grounds to the SBP to issue and control the digital currency in any form; physical and digital. New sections for licensing and recognizing digital currencies as legal tender under the authority of the central bank…
Islamabad, Nov 4: This is a much bigger fight between smartphones with the new Samsung Galaxy S24 and Samsung Galaxy S24 FE. As people are more and more expecting the products from Samsung, these models are interesting novelties at various level of price which may be of interest with different types of consumers. However, where you are left is to decide which of the two phones branded Galaxy S24 to go for and this post will assist in the process. Who is the better between Samsung Galaxy S24 and Samsung Galaxy S24 FE? You will find the answer in this…
Islamabad, Nov 4: Higher liquefied natural gas (LNG) sales helped offset a steep decline in oil refining and trading earnings, resulting in Shell petrol reporting third-quarter profits of $6 billion on Thursday, a 12% increase over projections. Together with a decrease in debt and robust cash flow, the outcomes may increase investor trust in CEO Wael Sawan’s plans to improve the company’s performance by the end of 2025 while concentrating on its most lucrative ventures, which are mostly in the oil, gas, and biofuels industries. In the face of declining economic activity and the opening of multiple new refineries in…
Islamabad, Nov 4: According to Mian Atiqur Rehman, chairman of the Pakistan Carpet Industry and Exporters Association (PCMEA), boosting exports is impossible without gaining government assistance and eliminating needless barriers from various sectors. According to him, in order to boost output, groups such as SMEDA had to offer financial and technical support for the establishment of carpet manufacturing facilities in rural regions. Speaking at the review meeting at the Association’s headquarters, Mian Atiqur Rehman stated, The next one of the International Exhibitions which is going to take place in 2025 is the 41-st one Today new trends are going to…
Islamabad, Nov 4: India wicketkeeper Wriddhiman Saha declared his retirement from all cricket-related activities. Wriddhiman declared on social media that the current Ranji Trophy season would be his final one. The stumper, who turned 40 this month, has played in 40 Test matches and nine One-Day Internationals for India. For a considerable amount of time following MS Dhoni’s retirement, he was India’s preferred keeper-batter in red-ball cricket. Second only to Dhoni and Pant (equal first) in terms of keepers with the most hundreds for India is the right-hander. Saha, who is considered to be among the best gloveman in cricket,…
Islamabad, Nov 4: Abdul Aleem Khan, the Federal Minister for Privatization, stated that he was in charge of selling Pakistan International Airlines (PIA) and that the best course of action will be taken in this respect. He said that the interim administration has created a framework for the PIA’s privatization. Approximately 600 billion of the Rs 830 billion in debt owed by the PIA, He claimed that all of these things had already occurred before he took over his office Aleem claimed he was powerless to alter the privatization framework. There existed a privatization process that allowed him to privatize…
