Remittances have traditionally been a certainty for Pakistan's economy that has seen its fair share of volatility otherwise. However, the slowdown in these foreign inflows in recent times has become prominent with recent numbers from the SBP. With exports down, non-oil imports rising, and FDI far and few, the slowdown of growth in remittances was the last thing needed by the economy.
Thanks to an all-round healthy third-quarter performance, PTCL Group, the telecom giant, is shrugging off the lethargy of yester quarters. The nine-month results reported by the Pakistan Telecommunic-ations Co. Limited Group (PSX: PTC) show that despite a slight year-on-year drop in, PTC managed to expand its consolidated bottom line by a whopping 42 percent.
There is a myth that nobody sleeps without food in Pakistan; based on a largely flawed argument that Pakistan is one of the biggest philanthropist nation and that the wealthy support the marginalized. There are ample statistics and studies to support that malnutrition remains one of the biggest enemy of the unprivileged.
Continuing the discussion from our last piece on the need for evidence-based advocacy at chambers of commerce and industries, this column would now dabble into how chambers can use their current structures to produce the needed research.
Local businesses here at home appreciate government's efforts in getting schemes like the GSP Plus (EU or US) where they get market access to developed nations without having to open their markets in return but Free Trade Agreements (FTA) or Preferential Trade Agreements (PTA) often get a bad rap, predominantly known to hurt nascent domestic industries rather than help boost exports.
Still reeling from the short crop of cotton this past year, Pakistan is now once again looking at another cotton shortage. Last week, the Cotton Crop Assessment Committee (CCAC) revised down cotton production estimates for the current season (2016-17) to just over 11 million bales, as against the initial estimates of 14.1 million.