In 2021-22, the imports increased by 43.45pc, to $80.51bn, up from $56.12bn in 2020-21. In June 2022, the import bill surged to $7.74bn, from $6.28bn over the same month last year, reflecting an increase of 23.26pc.
Economy
ISLAMABAD: The commercial banks in Pakistan have refused to facilitate oil import from Russia in the wake of economic sanctions…
Globally, small and medium enterprises constitute about 90 percent of the entire business sector, and they generate livelihoods for more than 50 percent of the workforce. They also foster innovation and creativity through their business ideas and initiatives.
The coalition govt has completed its hat-trick of raising domestic petroleum prices to win IMF support for resumption of loan. So far, the government has raised the price of petrol by Rs84/liter.
ISLAMABAD: The US dollar is set to slip below 200 rupees in the inter-bank and open market in the coming…
According to the Forex Association of Pakistan, on Wednesday the greenback depreciated by Rs1.25 against the previous day’s close of Rs 206, closing at Rs204.75 on Wednesday.
The government also agreed to the Fund’s demand of imposing a 1% poverty tax on companies earning Rs150 million, 2% on those generating an income of Rs200 million, 3% on those earning more than 250 million, and 4% on the ones generating an income of Rs300 million or more.
In the month of May 2022, the CAD has expanded by almost 200 percent ($1.4 billion) when compared with the CAD of April 2022 ($0.6 billion).