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MNC’s Repatriate More than $1 billion in 8 Months
Profit repatriation of MNC’s working in Pakistan, for the 8 month period July – February FY21 increased to $1.05 billion (last: $973.9 million). This increase is due to increased activity in an environment that made sluggish by COVID. Corporate Advisory VIDEO.
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India Desires Cordial Relations With Pakistan: Indian PM
India’s Prime Minister Narendra Modi told Prime Minister Imran Khan in a Pakistan Day message that India desires cordial relations with the people of Pakistan. This message, was conveyed through the Indian High Commission in Islamabad to the Foreign Office. India’s PM extended greetings to the people of Pakistan on the occasion of the…
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Pakistan IT Exports Rise For 8 Month Period
Pakistan’s IT exports for the period July – February FY21 rose 41% to $1.3 billion, as the COVID related restrictions accelerated the demand for IT services to meet both social and economic needs of people. Information technology exports contributed 34% to overall services exports. Exports of services stood at $3.809 billion (last: $3.815 billion). …
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Pakistan Current Account Deficit Down In February
The State Bank of Pakistan said that the current account deficit narrowed to $50 million in February 2021 compared to $210 million in January 2021. The current account deficit was down 75% in February 2021 at $50 million compared to February 2020 when it was $197 million. For the period July – March…
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SBP Maintains Policy Rate at 7%
The State Bank of Pakistan (SBP) maintained the policy rate at 7% and said that although there is uncertainty regarding inflation and growth, maintaining the rate will support economic recovery.
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Pakistan E-banking Transactions Rise to Rs. 21.4 trillion
Electronic-banking transactions in Pakistan for the period October – December 2020, increased 22% to Rs. 21.4 trillion. In this period, 296.7 million e-banking transactions were carried out, registering a growth of 24% percent by volume. “In the last few years, digital payment transactions in Pakistan have shown significant growth, reflecting the favourable impact of…
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FDI for July – Feb Down
FDI into Pakistan for the period July – February Fy21 fell 30% to $1.3 billion (last: $1.85 billion). FDI inflows from China and Hong Kong fell from a year earlier, and those from Netherlands and the United Kingdom increased in July-February FY2021. The net FDI inflows from China declined to $493.9 million (last: $654.8…
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LSM Increases In January
The Large Scale Manufacturing (LSM) sector in Pakistan grew 9.1% in January, with cement and auto production touching pre-lockdown levels. This is the highest level for LSM since March 2018. This rise was due to food (16.4%), non-metallic mineral products (37%), autos (23.4%), textile (3.2%), pharmaceuticals (8.1%), paper and board (13.2%), coke (2.3%), fertilizer (2.1%)…
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Textile Exports Dip in February
Textile exports from Pakistan February 2021 fell 6.8% to $1.2 billion. Lower number of working days was considered a major reason for the dip. Corporate Advisory VIDEO.
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BITCOIN crosses $60,000 mark
Bitcoin passed the $60,000 mark for the first time. It touched $60,197 at 1234 GMT.
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Pakistan’s Roshan Digital Accounts Cross 0.1 Million
Pakistan’s Roshan Digital Accounts, meant for overseas Pakistani’s, crossed the 100,000 mark in its six months of operations. The Roshan Digital Accounts were launched in September 2020 by Prime Minister Imran Khan, to allow overseas Pakistani’s to open up bank accounts in Pakistan without coming to Pakistan. In addition to that these accounts have…
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Remittances Into Pakistan Rise
Remittances coming into Pakistan for the period July to February FY21 increased by 24% to touch $18.74 billion (last: $15.104 billion) due to better policy measures undertaken by the GOP and SBP to encourage inflows through formal channels and orderly exchange market conditions. This was the 9th consecutive month for remittances to be above…
