Connect with us

Latest News

Pakistan Increases Exports 14% With SIFC Assistance: Declines in High-Duty Imports Despite Upward Export Trends

Published

2 months ago

on

Pakistan’s exports have increased dramatically since the beginning of the current fiscal year thanks to the Special Investment Facilitation Council. The Pakistan Bureau of Statistics reports that during the same period previous year, exports increased by 14%.

There was a 620 million dollar increase in exports to 5.1 billion dollars in August 2024. At the beginning of the fiscal year 2024–25, Pakistan’s trade deficit decreased by 4.2%, from 3.751 billion dollars to 3.6 billion dollars, thanks in part to this growth.

Nonetheless, there was a 1.3% annual decline in the importation of high-duty products like cars, appliances, and necessities like clothing and shoes.

As a result, the Government is taking steps to stabilize the economy and boost exports with support from SIFC.
To boost exports and promote economic expansion, a trade liberalization strategy has been finalized.

It is anticipated that by encouraging export expansion, reviving the industrial sector, and offering manufacturers financial incentives, these initiatives will increase economic stability.

Pakistan’s external debt has decreased recently thanks in part to the actions of the government.

Related Topics:
Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Business

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

Published

12 hours ago

on

By

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.

Continue Reading

Business

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

Published

12 hours ago

on

By

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.

Continue Reading

Latest News

Speaking to a press conference, Marriyum Aurangzeb says the PML-N government has restored the trust of investors.

Published

12 hours ago

on

By

According to Marriyum Aurangzeb, senior Punjab minister, the PML-N government has won back the trust of investors by making strides in a number of areas, including agriculture.

Marriyum Aurangzeb, speaking at a press conference in Lahore, emphasized the Punjab government’s initiatives to bring about major changes in the province, particularly in Lahore.

Marriyum Aurangzeb stated that in order to guarantee sustainable growth, the master plan for Lahore has been completed, and plans of a similar nature are being worked on for other districts.

Continue Reading

Trending