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Remittances into Pakistan increased by 7.6%, which crossed $20 billion for 8 months (July – February) FY22 (last: $18.7 billion). Pakistan has experienced a consistent increase in remittances due to the improvement in systems and incentives provided by the Government.   Remittances from Saudi Arabia contributed 25% i.e. $5.1 billion, USA 18% i.e. $1.9 billion…

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The UN General Assembly voted 141 out of 193 (member states) to adopt a resolution that “demands” Russia “immediately” withdraw from Ukraine. Earlier the UNSC had tried to pass a resolution which was vetoed by Russia.    

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Pakistan trade deficit for the July to February FY22 widened by 82% to touch $32 billion (last: $17.5 billion). Exports for the period increased 26% to touch $20.5 billion (last: $16.3 billion), while imports increased 55% to touch $52.5 billion (last: $33.9 billion).   This is primarily due to aggressive and uncontrolled imports. Exports have…

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The price of natural gas in EU rose sharply to touch Euros 164 mWh which a year ago was in the range Euro 20 – 30 mWh. The rise in gas prices is attributed to greater consumption, post covid effect, but the latest spike is due to the Russia – Ukraine conflict. 40% of gas…

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Russia initiated military action in east Ukraine, citing calls from help from eastern areas of Donbas, that had been recognized by Russia as independent.   Russia cites the expansion of NATO, violation of the Minsk agreement, provocative actions of Ukraine and suppression of Russian origin people, among many reasons for this action. Russia says only…

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Pakistan’s Prime Minister Imran Khan left for Russia on a two day official visit, on the invitation of President of the Russian Federation Vladimir Putin. This visit of a Pakistani Prime Minister to Russia is happening after 23 years.   Among the topics of discussion with the Russian President and this government are economics, security,…

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Iranian President Ebrahim Raisi visited Qatar’s Emir and signed several bilateral cooperation deals which would help improve ties with other Gulf Arab states.   This is the first visit to Qatar by an Iranian president in 11 years. This meeting comes at a time when the United States and Iran hold indirect talks aimed at…

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Private sector bank loans in Pakistan increased by 18.2% to touch Rs. 6.4 trillion in January 2022 (last: Rs. 5.6 trillion).   This rise in private sector lending is due to an expanding economy that is experiencing increased demand and increased need  for working capital loans. Manufacturing is expanding which is consuming increasing amounts of…

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FDI Into Pakistan for July – January FY22 increased 11% to touch $1.2 billion (last: $1.1 billion) with inflows coming into the financial, energy and the communications sectors. The financial sector received inflows of $231 million (last: $160 million), the communications sector $175 million (last: $-$32 million). China was the largest investor with FDI of…

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Energy imports of Pakistan for petroleum products for the July – January FY22 period increased by 125% to $11.7 billion (last: $5.6 billion). This was primarily due to the expanding economy, causing an increased demand of petroleum products and also due to the rise in international prices.  

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Pakistan textile exports hit record levels for July to January FY22, increasing by 24.7% to touch $10.9 billion ($8.8 billion).   This increase has been due to the GoP’s support policies, uninterrupted gas, and electricity supplies and easy credit. Value added products were prominent – knitwear exports increased 33% to touch $2.9 billion, ready made…

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Pakistan received record remittances for the 7 months FY22 (July – January) which increased by 9.1% to touch $18 billion (last: $ 16.4 billion). The use of formal channels has greatly helped push these funds into the Pakistan economy.  

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