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In the fiscal year 2023-2024, Pakistan’s exports of vegetables and fruits amounted to a total value of $773.23 million.

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In the financial year ending on June 30, 2024, Pakistan’s vegetable exports amounted to 1.126 million metric tons, with a total value of $430.055 million. This represents a decrease compared to the previous year, where exports reached 1.336 million metric tons valued at $300 million.

According to the Pakistan Bureau of Statistics, vegetable exports from the country increased by 43.20% during the period from July to June 2024, compared to the same period in the previous year.

During the recent financial year, the exports of fresh fruits increased by 21.31%, with over 935,631 metric tons worth $343.532 million being exported. This is compared to the exports of 627,133 metric tons valued at 283.188 million in the same time of the previous year.

Pakistan experienced a rise in exports during the fiscal year 2023-2024.

In the fiscal year ending on June 30, 2024, the total exports of food groups increased by 46.77 percent. Food commodities worth $7.369 billion were shipped, compared to $5.021 billion in the year 2022-23.

Conversely, food products worth 7.903 billion were imported in the fiscal year 2023–24, compared to imports worth $8.936 billion in the corresponding period of the fiscal year 2022–23.In the financial year ending on June 30, 2024, Pakistan’s vegetable exports amounted to 1.126 million metric tons, with a total value of $430.055 million. This represents a decrease compared to the previous year, where exports reached 1.336 million metric tons valued at $300 million.

According to the Pakistan Bureau of Statistics, vegetable exports from the country increased by 43.20% during the period from July to June 2024, compared to the same period in the previous year.

During the recent financial year, the exports of fresh fruits increased by 21.31%, with over 935,631 metric tons worth $343.532 million being exported. This is compared to the exports of 627,133 metric tons valued at 283.188 million in the same time of the previous year.

Pakistan experienced a rise in exports during the fiscal year 2023-2024.

In the fiscal year ending on June 30, 2024, the total exports of food groups increased by 46.77 percent. Food commodities worth $7.369 billion were shipped, compared to $5.021 billion in the year 2022-23.

Conversely, food products worth 7.903 billion were imported in the fiscal year 2023–24, compared to imports worth $8.936 billion in the corresponding period of the fiscal year 2022–23.

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Irfan Siddiqui meets with the PM and informs him about the Senate performance of the parliamentary party.

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The head of the Senate’s Foreign Affairs Standing Committee and the PML-N’s parliamentary leader paid Prime Minister Muhammad Shehbaz Sharif a visit in Islamabad.

Senator Irfan Siddiqui gave the Prime Minister an update on the Parliamentary Party’s Senate performance.

Additionally, Senator Irfan Siddiqui gave the Prime Minister an update on the Senate Standing Committee on Foreign Affairs’ performance.

He complimented the Prime Minister on his outstanding efforts to bring Pakistan’s economy back on track and meet its economic objectives.

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Business

SIFC Increases Direct Foreign Investment: Investment in the Energy Sector Rises by 120%

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The Special Investment Facilitation Council is intended to help Pakistan’s energy sector attract $585.6 million in direct foreign investment in 2024–2025. The amount invested at the same time previous year was $266.3 million.

This is a notable 120% rise, mostly due to investments in gas exploration, oil, and power. Such expansion indicates heightened investor confidence and emphasizes the development potential in important areas.

The State Bank reports that foreign investment in other vital industries has increased by 48% to $771 million.

This advancement is a blatant testament to SIFC’s efficient investment procedure and quick project execution.

The purpose of the Special Investment Facilitation Council is to establish Pakistan as an investment hub by aggressively promoting regional trade and investment in the energy sector and other critical industries.

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Business

Discos report losses of Rs239 billion.

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When compared to the same period last year, the data indicates that discos have decreased their losses in the first quarter of the current fiscal year.

The distribution businesses recorded losses of Rs239 billion in the first three months of the current fiscal year, a substantial decrease from the Rs308 billion losses sustained during the same period the previous year.

Additionally, the distribution businesses’ rate of recovery has improved. It has increased to 91% in the first quarter of this year from 84% in the same period last year, indicating success in revenue collection.

Regarding circular debt, the Power division observed a notable change. Last year, between July and October, the circular debt grew by Rs301 billion. Nonetheless, this year’s first four months saw a relatively modest increase in circular debt, totaling about Rs11 billion.

These enhancements show promising developments in the electricity sector’s financial health in Pakistan, where initiatives are being made to accelerate recovery rates and slow the expansion of circular debt.

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