Economy

Pakistan has to pay a staggering amount of $21.95 billion in the coming year. This is huge amount for Pakistan already in very fragile economic position.

Islamabad, 7 January 2023 (GNP): Due to the US dollar shortage and significant rupee devaluation, Pakistan's largest oil refinery, the Cnergyico refinery, has faced a crude oil shortage and has been closed for approximately a week. An…

Islamabad, 3 February 2023 (GNP): The price of gold (24 carats) climbed by Rs 3,500 per tola and Rps 3,000 per 10 kilos to settle at Rps 205,000 and Rps 175,754, respectively, according to data issued by the All-Pakistan Sarafa Gems and…

Islamabad, 3 February 2023 (GNP): Pepsi and Coke recently met with the Finance Ministry of Pakistan and promised to get loans worth about $200 million from their parent businesses to inject money into the nation. The Finance Ministry agreed…

Islamabad, 3 February 2023 (GNP): The manufacturer of Toyota automobiles, Indus Motor Company (IMC), has decided to shut down all operations at its Pakistani manufacturing facility from February 1 through February 14 due to an inventory…

Islamabad, 2 February 2023 (GNP): Owing to record-breaking currency depreciation, higher taxes, and rising electricity prices, Pakistan is experiencing its highest level of inflation. This is largely due to a double-digit increase in the…

London, 31 January 2023 (GNP): The IMF did add, though, that it currently believes the UK economy is "on track" following the Autumn Statement. The UK did better than many expectations last year, according to Chancellor Jeremy Hunt. Instead…

Islamabad, 30 January 2023 (GNP): The Pakistani rupee rate dropped by Rps 6.5 to the dollar (2.32%) in today's interbank market activity, reaching a new record low of Rps 270. In an effort to persuade International Monetary Fund (IMF)…

Islamabad, 30 January 2023 (GNP): Ishaq Dar, the finance minister of Pakistan, in a recent conference, announced that the federal government has raised the cost of gasoline and fuel by Rupees 35. Following the elimination of the informal…

Islamabad, 28 January 2023 (GNP): Due to its tardiness in making a decision over restarting the International Monetary Fund (IMF) loan programme, Pakistan received only $5.6 billion in foreign loans during the first half of the current…

Islamabad, 28 January 2023 (GNP): Following the rupee's freefall against the US dollar on Friday, gold prices exceeded Rs200,000 per tola (11.66 grams) for the first time in Pakistani history. However, because real buyers have left the…

Washington DC, 27 January 2023 (GNP): The US economy grew more quickly than anticipated until the end of 2022, but there were indications of declining underlying demand as growth in this year's economy is threatened by the sharpest…

Islamabad, 25 January 2023 (GNP): With the lack of clarity over dates for the visit of the International Monetary Fund, Pakistan is bound to a $500 million amount as debt repayment to a Chinese commercial bank within 72 hours. This action…

Karachi, 25 January 2023 (GNP): Pak Suzuki Motor Company (PSMC) has announced to increase in its car prices between the range of Rs115,000 and Rs355,000 in light of economic and political downturns and high production costs. The news comes…

Islamabad, 24 January 2023 (GNP): The spokesperson of OGRA said in a statement:" Ogra strongly rebuts the speculations on petrol/diesel shortages. Furthermore, ships carrying 101,000 metric tonnes petrol are at berth/outer anchorage. The…

Islamabad, 21 January 2023 (GNP): The World Bank has announced to delay in the approval of two loans worth $1.1 billion until the next fiscal year. The lender has also opposed the policy of levying taxes on imports, creating a disruption in…

Islamabad, 21 January 2023 (GNP): According to Pakistan Stock Exchange (PSE), the Pakistani rupee dropped by Rps 0.52 (0.23%) to a three and half-month low at Rs229.67 against the US dollar in the interbank market. Also Read: Major…

Islamabad, 21 January 2023 (GNP): After the end of the annual inter-governmental commission between Russia and Pakistan, it was agreed that Russia will export crude oil to Pakistan starting from March this year. The news was confirmed by…

Islamabad, 20 January 2023 (GNP): Textiles owners on Thursday warned to go on a strike over delays of imported cotton containers at Karachi Port amid the country’s struggle to boost fast-depleting foreign exchange reserves. All Pakistan…

Riyadh, 19 January 2023 (GNP): Crown Prince Mohammad Bin Salman, on January 17, ordered the authorities of Saudi Arabia to increase the country's investments in Pakistan by $10 billion, giving a major boost to Pakistan’s efforts to…

Islamabad, 19 January 2023 (GNP): The Finance Minister of Pakistan, Ishaq Dar, revealed that the United Arab Emirates (UAE) provided Pakistan with a 2 billion dollars loan on 12 January 2023 so that Pakistan, currently a cash-deprived…

Islamabad, 19 January 2023 (GNP): According to reports, multinational companies are shutting down their mobile phone assembly plants in Pakistan due to a shortage of dollars. Three major phone manufacturers have reportedly closed their…

Islamabad, 19 January 2023 (GNP): The former Finance Minister of Pakistan, Hafiz Pasha, has warned that in case Pakistan defaults, the country's inflation rate can skyrocket to 70%. Even if the International Monetary Fund’s (IMF) loan…

Islamabad, 18 January 2023 (GNP): The National Electric Power Regulatory Authority (Nepra) has allowed an increase in tariff up to Rs4.46 per unit for quarterly adjustment for the first quarter of the financial year 2022-23. The tariff…

Chaghai, 17 January 2023 (GNP): The Canadian company Barrack Gold has announced the development of Reko Diq, which will begin in 2028. A ceremony was held at the office of Chief Minister’s secretariat on 15 January 2023, where Barrick Gold…

Islamabad, 16 January 2023 (GNP): Ishaq Dar, Finance Minister of the Pakistan Government, has announced that the prices of petroleum will remain the same as the present and won't increase till February. He said this while addressing a media…

Islamabad, 14 January 2023 (GNP): According to Pakistan Petroleum Division, the price of petrol is expected to increase by Rupees 8.98 per liter while the price of high-speed diesel (HSD) may rise by Rupees 1.06 per liter in the coming…

Islamabad, 14 January 2023 (GNP): According to the stats revealed by All Pakistan Sarafa Gems and Jewellers Association, the price of gold rose by Rupees 500 per 1 tola on Thursday, 12 January to set at Rupees 186,100 today. Similarly, the…

Buenos Aires, 13 January 2023 (GNP): According to the recent stats issued by Argentina's economists, it was observed that the country's consumer prices inflated by almost 95 percent during 2022. This is one of the highest inflation rates…

Washington DC, 12 January 2023 (GNP): United States's spokesman, Ned Price has assured Pakistan that the US will support the country's efforts to strengthen its economy and deal with the aftereffects of last year’s flood disaster. Ned…

Karachi, 12 January 2023 (GNP): Pakistan's PM Shahbaz Sharif has warned all business persons and individual hoarders who have created an artificial wheat shortage in the market. He announced in a meeting on Monday that the federal…

Islamabad, 12 January 2023 (GNP): President Alvi expressed serious concern about the national harmony and economy of Pakistan and political parties had to come to table talks and sort out some solutions for economic recovery. In an…

Karachi, 12 January 2023 (GNP): Diamond Industries Limited, the oldest foam producer in Pakistan has announced to temporarily suspend its production due to a shortage of raw materials. This decision came into effect yesterday on 10th…

Islamabad, 11 December 2023 (GNP): According to a press release issued by the European Union on Monday, January 9, 2023, , three agreements were signed by Dr. Kazim Niaz, Secretary Ministry of Economic Affairs Division, and Dr. Riina Kionka…

Islamabad, 11 January 2023 (GNP): Oil and Gas Regulatory Authority of Pakistan (OGRA) has allowed Sui Southern Gas Company Limited (SSGCL) and Sui Northern Gas Pipelines Limited (SNGPL), two major gas-providing companies, to inflate gas…

Islamabad, 10 January 2023 (GNP): According to reports, about seven million people working in textile and textile-related industries in Pakistan have been fired from their jobs due to decreasing exports and the Pakistani government’s failed…

Islamabad, 10 January 2023 (GNP): Pakistan's Federal Minister for Planning, Ahsan Iqbal has stated at the International Conference on Climate Resilient Pakistan, co-arranged by the UN and Pakistan's government in Geneva that the aggregate…

Karachi, 7 January 2023(GNP): Pakistan's government has decided to sell two LNG power plants to raise an estimated $1.5 billion. Previously these plants were to be privatized, however now, the government aims to sell state assets to Qatar…

Islamabad, 6 January 2023 (GNP): According to reports, Flour, which is Pakistan's staple food is no longer available in Lahore. Prices of flour have soared in the metropolis with shops reporting zero stock of the commodity across the city.…

Islamabad, 6 January 2023 (GNP): Millat Tractors, the biggest tractor producer in Pakistan has decided to cease its operations in the country from 6th January onwards, due to a cash flow crisis and low demand. The news comes after major…

Islamabad, 4 January 2023 (GNP): According to reports, the Pakistani rupee fell in value on the first working day of 2023 by 0.22 (Rps 0.51) to a three month low at Rs226.94 against the US dollar in the inter-bank market on Tuesday. The…

Islamabad, 2 January 2023 (GNP): Pakistani politician and political economist Miftah Ismail shared his views regarding Pakistan's future and economy in a recent interview. Upon being asked about Pakistan's position to default in 2023,…

Tokyo, 28 December 2022 (GNP): After the end of COVID-19's Omicron pandemic wave, the new BF.7 variant has affected every country, with Japan experiencing 415 deaths today from COVID-19. Despite the new BA.7 variant, BA.5 COVID variant…

Islamabad, 28 December 2022 (GNP):  One of Pakistan's largest textile manufacturers, Nishat Chunian Limited, has declared that it will temporarily halt operations due to the current political and economic unrest in the nation. Organizations…

Islamabad, 27th December 2022 (GNP): An abnormal rise in gold prices in Pakistan has been recorded and observed. According to the All Pakistan Sarafa Gems and Jewellers Association, the price of gold per tola started to rise this week on…

Tokyo, 27 December 2022 (GNP): According to sources, Japan's latest inflation rate has been revealed and financial experts of japan deem this to be the highest inflation rate in the economy since 1981. Consumer prices (excluding volatile…

Brussels, 15 December 2022 (GNP/ TDI): The European Union (EU) and the Association of Southeast Asian Nations (ASEAN) meet for their first Summit today to deepen economic ties. The Summit celebrates 45 years of diplomatic relations…

On November 16 at the Kuksaroy Residence, President Shavkat Mirziyoyev presided over... (Read More)

IMF reports on ‘How Trade Can Help Asia Economic Recovery’. Trade is a powerful tool for economic growth and poverty alleviation. However, there is a need to reduce trade barriers for economic recovery.

With uninterrupted funding for programs to be completed in the short term. The Punjab Finance Department is introducing a digital funding mechanism.

The Small and Medium Enterprises (SMEs) making a business turnover of Rs. 50 million have been exempted from the levy of marking fee, as the government has decided to facilitate the SMEs and the manufacturers of compulsory products to give…

Pakistan’s current account recorded a massive deficit of $3.4 billion in the first quarter of FY2021-2022 owing to the increasing trade deficit in tandem with the high imports bill during the period from July to September in 2020.

As the world struggles to control COVID-19, Fiscal policy remains the key to tackling the effects of the emerging pandemic. It continues to be marked by uncertainty and global inequality.

Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of PolarityTE, Inc. (NASDAQ: PTE) between April 30, 2020, and August 23, 2021, inclusive (the “Class Period”), of the important November 23, 2021 lead…

A seminar on Pakistan’s Economy was organized by the Embassy of Pakistan, Washington, D.C. in collaboration with the Institute of Business Administration (IBA) Karachi.

After conversing with the Chairman of the Senate, Sadiq Sanjrani met South Korean Ambassador, Suh Sangpyo at the Parliament House on Thursday, 14 October.

Ambassador of Pakistan to Belarus, Sajjad Haider Khan along with Abdullah Amin and Shahmir Amir, the Deputy Head of Mission visited High Tech-Park in Minsk. The Pakistani delegation was welcomed by Kirilll Zalessky, Deputy Head of High-Tech…

The Board of Directors of HBL has announced the financial results for the nine months period that ended on September 30, 2021. HBL today declared a consolidated Profit after tax of Rs. 27.0 billion, up by 7% as compared to Rs. 25.27 billion…

The application “ Vietnam’s circular economy hub “ was discussed in online and live workshops which were attended by more than 200 people from different businesses and other organizations of Vietnam. 

The first quarter of the fiscal year showed an increase of more than 100% in the trade deficit. Significantly more than three times the increase in imports compared with exports.