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Pakistan’s economic woes are aggravating with shrinking foreign exchange reserves, rising inflation, historic currency devaluation, and escalating current account deficit – forcing the country once again to borrow from external sources such as the IMF and Saudi Arabia. Trade deficit has registered an alarming increase by more than 117.25 percent in the first five months of the current fiscal year. Merchandise trade deficit has bulged to $20.746 billion in July-November 2021, up from $9.549 billion in the same period last year. During July-November 2021, the country’s current-account deficit (the broadest…

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Makhdoom Hashim Javan Bakht, Punjab’s finance minister, on Thursday assured All Pakistan Textile Mills Associations (APTMA) for pursuing issue of gas shortage to the export industry with the federal government. He was talking to a APTMA delegation led by central chairman Abdul Rahim Nasir and other office-bearers. The minister assured the delegation of full support from the provincial government to make the export industry operate on its ‘full bloom’ and to make gas available to them to continue their business activities. “Punjab will leave no stone unturned in supporting smooth…

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Industrialists have voiced fear that the ongoing gas crisis will deal a lethal blow to the country’s gross domestic product (GDP) growth, bring down export orders and increase the cost of production for the business community. In a statement on Thursday, Federation of Pakistan Chambers of Commerce and Industry (FPCCI) President Mian Nasser Hyatt Maggo stated that the failure of the government to provide gas to the industry would result in mammoth losses to the country as well as the business community. “The industrial base is losing its productivity and export orders…

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The Provincial Disaster Management Authority (PDMA) has prepared the Khyber Pakhtunkhwa Winter Contingency Plan calling for the establishment of air quality monitoring stations in major cities of the province. According to the PDMA, the initiative is meant to assess preparedness at provincial and district levels to handle emergency situations. A report carrying details of the contingency plan has declared snowfall, low temperature, fog and smog, landslides and heavy rainfalls as major winter hazards in the province. According to it, Peshawar, Charsadda, Mardan, Nowshera, Swabi, Lakki Marwat and Dera Ismail Khan…

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Sindh Governor Imran Ismail on Thursday assured a delegation of compressed natural gas (CNG) dealers for taking up the issue of pump closures and their proposals relating to smart load management during his meeting with Prime Minister Imran Khan in Islamabad on Friday. During a meeting with a four-member delegation of the CNG Association at the Governor House, the governor said all the problems and issues of CNG stakeholders would be resolved on a priority basis. The CNG dealers had expressed reservations over the lingering gas crisis and handed over…

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