Pakistan’s economy has been in a state of decline for quite some time now and is at the brink of default. The devaluation of the rupee against the US dollar has added to the country’s economic woes. The situation is reminiscent of Sri Lanka’s recent economic crisis and serves as a warning for Pakistan to […]
The Pakistani Rupee is anticipated to begin its resurgence against the US dollar, following the government’s attempts to secure a bailout program from the International Monetary Fund (IMF). Traders and analysts believe that the market’s positive sentiments have been boosted by the government’s efforts to meet the IMF conditions for the state-level agreement. During the […]
Refineries in Pakistan are warning of a severe petrol crisis by mid-February, unless the government takes immediate action to resolve the issues surrounding letters of credit (LCs) for imported raw materials and additives. In separate letters addressed to the Minister of State for Petroleum and the Governor of the State Bank of Pakistan, the refining […]
Karachi Pakistan, A massive protest against Pakistan’s inflation and price increases was reordered by lawyers. Most of the protesters, in this case, were attorneys, but there were other people present to lend support and help the protest against Pakistan’s highest inflation succeed. They were all carrying signs stating that inflation is no longer acceptable. As […]
Ameer Jamaat e Islami Pakistan Siraj ul Haq announced the Awami March, which will take place nonstop for three days from Friday, February 10, through Sunday, February 12. This Awami March is protesting the unemployment and inflation that are current issues in Pakistan. In Khyber Pakhtunkhwa today, Siraj ul Haq said, “Flour is expensive and […]
46,000 climate-resistant homes will be rebuilt as part of Sindh Resilient’s pledge. The Sindh government and the World Bank collaborated to develop the SPHF project, which would help make the region’s environment more robust to the effects of flooding. The Resilient Sindh Conference took place today in the morning. Murad Ali Shah, the chief minister […]
The country is facing an unexpected fuel shortage crisis, with inadequate imports and a scarcity of both petrol and high-speed diesel on the local market. Cities such as Lahore, Gujranwala, and Faisalabad in Punjab are among the worst affected areas, with numerous petrol stations running low on or completely out of fuel. This shortage is […]
The global recession has started to hit Pakistani IT Industry too. CEO Daraz Bjarke Mikkelsen recently said that the company is cutting off 11% of its workforce. He said, “In the last quarter of 2022, funding declined causing job layoffs, starting with Daraz in Pakistan ” Nasheed Malik, Topline Securities ICT analyst told the media, […]
Next Gen Solution for Petrol Price in Pakistan Because an electric bike costs less than a fuel-consuming bike Due to the rising cost of gasoline in Pakistan as a result of the country’s uncertain condition and inflation, SUNRA Company is recommending electric bikes as an alternative to fuel-consuming vehicles. SUNRA is a publicly traded corporation that primarily […]
Pakistan’s economy faced a blow on Friday, when the rupee dropped to a record low against the dollar after Prime Minister Shehbaz Sharif mentioned that the International Monetary Fund (IMF) was giving the government a difficult time. The domestic currency declined by almost 1%, reaching a new low of Rs 271.36 against the dollar, compared […]
The Pakistan Telecommunications Authority (PTA) recently published its Annual Report 2022 in which it is revealed that the administrative expenses of the organisation skyrocketed by 239% in just four years. The expenses were around 1 billion four years ago and were recorded 3.5 billion in 2022. According to the report, Rs 926 million were given […]
In 2022, the number of apps downloaded by Pakistanis rose to 35.4 % compared to the same period last year. This makes Pakistan the fastest-growing apps market globally, according to a report published by Data Darbar. The growth rate of Pakistan was 26.8% in 2021, which increased to 35.4pc in 2022. This is around 3 […]
A earthquake of magnitude 4.3 hit different areas of Lasbela, Balochistan on Thursday morning. The Meteorological Department of Pakistan has reported that the epicenter of the earthquake was 56km northeast of Bela and its depth was 41km. The exact time of earthquake was 8:44am with a longitude of 66.67 East and a latitude of 26.67 […]
Sindh Government takes yet another initiative to support women empowerment in the province by launching Pink People’s Bus Service in Karachi. The bus service was inaugurated by Minister Sharjeel Memon in order to offer safe, secure, convenient and comfortable mode of transportation to women. Right now, there are 8 Pink buses that will operate from […]
Gilgit-Baltistan, located in the northernmost region of Pakistan, is a place of unparalleled natural beauty and rich cultural heritage. This region is home to some of the world’s tallest peaks, including K2, as well as stunning glaciers, rolling hills, and pristine rivers. The region is also renowned for its vibrant cultural traditions and diverse communities, […]
Inflation in Pakistan has reached a record high, as consumer prices rose 27.6% in January compared to 13% in the same month of the previous year. This is the highest year-on-year inflation since May 1975. The inflation rate has been over 20% since June and is due to supply constraints for food products, the recent […]
Pakistan is going through the worst economic crisis. It is speculated that inflation is likely to reach 27% in January. This is in comparison to the central bank’s anticipated average of 21-23% for the current financial year It is also anticipated that the government will further increase the prices of power and gas after which […]
The Steel Industry fears closure of businesses and major job cuts in the wake of recent failure to open LCs (letters if Credit) by banks. The Industry is already facing shortage of raw material due to the import ban. Consequently, the production is delayed and the companies are suffering from financial losses, according to the […]
The social media was abuzz with rumours for the last few weeks that the fee for machine readable passports is going to be increased in the days to come. However, the Interior Ministry has squashed all those rumors and have stated that there will be no change in fee for those passports. The Spokesperson of […]
Pakistani rupee has hit a new all-time low when it was trading at Rs 270/$ today. This makes the Rupee worst ever performing currency in Asia. The government recently announced to lift cap on currency exchange and let the market determine the value of the Rupee. Since then, the Rupee has been depriciating. Pakistan has […]
