Business

Pakistan’s economy performed best in 3 decades under Nawaz Sharif: Bloomberg

Published

11 months ago

Farwa

Imran Khan most popular politician with 57% approval rating.
“Public may be giving Sharif benefit of the doubt,” says Shukla.
Says road ahead won’t be easy for upcoming ruling party.

Pakistan’s economy under Nawaz Sharif’s premiership — who ruled the country thrice — had the best performance over the past three decades as compared to his rivals’ tenures, an analysis by Bloomberg Economics said.

The report found that Sharif’s PML-N scored better than Imran Khan’s Pakistan Tehreek-e-Insaf (PTI) and Bilawal Bhutto Zardari’s Pakistan Peoples Party (PPP) by using a misery index — which informally measures an economy’s state by adding its inflation and unemployment rate.

“Bloomberg Economics used an average of the index values over the respective years when each of the major political parties ruled the country since 1990. A higher value indicates more economic hardship for citizens,” said the publication.

According to Bloomberg, Nawaz looks ready to take power after the general elections slated for February 8 for the fourth time, with Khan being incarcerated and stuck in a quagmire of legal cases.

However, despite being in jail, Khan is still the most popular politician in Pakistan with an approval rating of 57%, as per a Gallup opinion poll. Meanwhile, Nawaz’s popularity increased from 36% to 52% in the past six months.

“The public may be giving Sharif the benefit of the doubt,” Ankur Shukla of Bloomberg Economics wrote in the report, adding that the “road ahead won’t be easy for any party that wins the election”, considering the high inflation and unemployment rate.

The inflation rate in Pakistan is close to 30% while the rupee performed as the worst in Asia last year with declining foreign exchange reserves.

Furthermore, the country is seeking a financial bailout from the International Monetary Fund (IMF) and the upcoming government will have to implement policies — withdrawing subsidies and raising taxes — that will be unpopular with voters.

The global lender also expects the economy to grow by 2% in the fiscal year.

Business

With its second-largest surge ever, PSX approaches 114,000 points.

Published

22 hours ago

Farwa

Driven by renewed activity from both private and government financial institutions, the Pakistan Stock Exchange (PSX) saw its second-largest rally in history on Monday.

The market regained many important levels in a single trading session as it rose with previously unheard-of momentum.

Intraday trading saw a top increase of 4,676 points, and the PSX’s benchmark KSE-100 Index gained 4,411 points to settle at 113,924 points. This impressive rebound demonstrated significant investor confidence by reestablishing the 100,000, 111,000, 112,000, and 113,000-point levels.

The market also saw the 114,000-point limit reestablished during the trading session.

The positive tendency was reflected when the market’s heavyweight shares touched its upper circuits. Among the most busiest trading sessions in recent memory, an astounding 85.78 billion shares worth a total of Rs55 billion were exchanged.

Experts credited the spike to heightened institutional investor activity and hope for macroeconomic recovery. Considered a major market recovery, the rally demonstrated the market’s tenacity and development potential.

Business

In interbank trade, the Pakistani rupee beats the US dollar.

Published

1 week ago

Farwa

In the international exchange market, the US dollar has continued to weaken in relation to the Pakistani rupee.

The dollar fell to Rs278.10 from Rs278.17 at the beginning of interbank trading, according to currency dealers, a seven paisa loss.

In the meantime, there was a lot of turbulence in the stock market, but it recovered and moved into the positive zone. The KSE-100 index recovered momentum and reached 116,000 points after soaring 1,300 points.

Both currency and stock market swings, according to analysts, are a reflection of ongoing market adjustments and economic uncertainty.

Business

Phase II of CPEC: China-Pakistan Partnership Enters a New Era

Published

1 week ago

Farwa

The cornerstone of economic cooperation between the two brothers and all-weather friends is still the China-Pakistan Economic Corridor, the initiative’s flagship project.

In contrast to reports of a slowdown, recent events indicate a renewed vigour and strategic emphasis on pushing the second phase of CPEC, known as CPEC Phase-2, according to the Ministry of Planning, Development, and Special Initiatives.

According to the statement, this crucial stage seeks to reshape the foundation of bilateral ties via increased cooperation, cutting-edge technology transfer, and revolutionary socioeconomic initiatives.

Planning Minister Ahsan Iqbal is leading Pakistan’s participation in a number of high-profile gatherings in China, such as the 3rd Forum on China-Indian Ocean Region Development Cooperation in Kunming and the High-Level Seminar on CPEC-2 in Beijing.

His involvement demonstrates Pakistan’s commitment to reviving CPEC, resolving outstanding concerns, and developing a strong phase-2 roadmap that considers both countries’ long-term prosperity.

At the core of these interactions is China’s steadfast determination to turn CPEC into a strategic alliance that promotes development, progress, and connectivity.

Instead of being marginalised, CPEC is developing into a multifaceted framework with five main thematic corridors: the Opening-Up/Regional Connectivity Corridor, the Innovation Corridor, the Green Corridor, the Growth Corridor, and the Livelihood-Enhancing Corridor.

With the help of projects like these, the two countries will fortify their partnership, and CPEC phase-2 will become a model of global economic integration and collaboration that benefits not just China and Pakistan but the entire region.