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EconomyThe report prepared by MCC Preventive, Karachi and last updated on May 2015 reveals around 59 percent of tyre demands was reached via illegal channels and may have been met via smuggling
EconomyThe government since the last 1.5 years has been trying to enhance exports and extended the Prime Minister Export-Package to rein in the ballooning CAD and dwindling foreign exchange reserves to a 3.5 year low of $9.06 billion
EconomyThe country received $3.7 billion in loans from overseas commercial banks against a budgeted forecast of $1.5 billion. The loans were obtained from foreign commercial banks for a max duration of three years at an interest rate of LIBOR plus 3 percent
EconomyImport of parts and accessories for domestically assembled cars surged by 23 percent, touching $809 million compared against $660 million in FY17.
EconomyThe United States remained the top destination for Pakistani exports fetching $3.9 billion receipts during the just concluded FY18
EconomyThe total claims for clash payment were recorded at Rs34 billion during Jan-June 2017, leaving a balance of Rs8 billion outstanding to be paid to exporters
EconomyBailouts are sizeable and always come with strings attached
Economy
Economy$1.6 billion of loans were disbursed for Orange Line Metro Project in Lahore, Thakot-Havelian motorway and Sukkur-Multan motorway
HeadlinesThe 20 percent appreciation of the dollar has made Hajj expensive for Pakistani’s. The commercial banks or the State Bank of Pakistan (SBP) aren’t bound to ensure provision of dollars to people leaving for Hajj, so they buy US dollars and Saudi Riyals from the open market.
EconomyAnd the situation of the energy supply chain is dismal as the country’s largest oil marketing company (OMC) Pakistan State Oil is facing a prospect of default due to its receivables ballooning to Rs330 billion
EconomyImports of petroleum crude surged 66 percent in dollar-denomination and 29 percent in volumetric termsto $4.22 billion and 10.40 million tons, said PBS