Factories owners fear that they may need to shut production due to an unprecedented hike in energy costs, which will be another disaster for the already struggling economy
Moody's downgrades Pakistan's economic outlook to negative, citing 'heightened external vulnerability' and uncertainty regarding the much needed external financial support as the reasons behind the downgrading of Pakistan’s economic outlook.
APTMA urges the government to continue with the Regionally Competitive Tariffs for the entire value chain and not to impose any non-tariff barrier on raw material or spare parts for the industry.
Russian Rouble continued the upward trend against dollar to become the best performing currency of the world. The strengthening of Russian currency, that too, due to its exports sector is impressive keeping in view the ongoing Russia-Ukraine war.
Internally, domestic uncertainty, expansionary monetary policy and petroleum and energy subsidy, while externally the Russia-Ukraine war and the latest wave of Covid-19 in China influenced the decision.
Zaman added that the policies introduced by financial institutions during the tenure of the PTI-led government provided a very enabling environment for the businesses.
According to the provisional report, overseas Pakistani’s from Saudi Arabia remitted $677.8 million in the month of March, making it the largest remitting partner of Pakistan.
The rupee had ended at 186.60 to the dollar on Monday, after recovering from 188.18. Meanwhile, the Pakistan Stock Exchange (PSX) has soared by 200.71 points so far, crossing 46,345 points.
