Articles for tag: 16month, falls, Inflation, Latest, PBS, SPI

March 2, 2024

Islamabad: Pakistan’s inflation fell sharply to 23.1% last month – the lowest rate in 16 months – due to a sharp decline in food inflation combined with a high base effect, creating room for a rate cut by the central bank . Inflation of 23.1% in February was still below both market and government expectations. A day earlier, the Treasury had forecast a range of 24.5% to 25.5% for the February reading. Food inflation, non-food inflation and headline inflation all slowed significantly, highlighting that the overall faster pace may now be starting to slow. The Pakistan Bureau of Statistics reported

February 16, 2024

News Desk

Business

LSM output hits 21-month high

KARACHI: Pakistan’s large-scale manufacturing (LSM) hit a 21-month high with strong support from agriculture, petroleum products, apparel and pharmaceuticals sectors in December 2023, hinting at a gradual recovery in economic activities during current financial year 2023-24. The Pakistan Bureau of Statistics (PBS) reported on Thursday that LSM production increased by 3.43%, pushing the quantum index of manufacturing (QIM) to 132.87 in December 2023 compared to 128.37 in the same month last year. year. LSM production increased by 15.69% in December compared to the previous month of November 2023. Cumulatively, in the first half (July-December) of the year 24, the growth

January 20, 2024

News Desk

Business

Textile exports down 5% in 1H24

LAHORE: In the first half of the current financial year 2023-24, the country’s textile exports have declined by 5%. The figures for July to December 2023 are $8.283 billion, compared to $8.716 billion in the first half of 2023. According to revised data released by the Pakistan Bureau of Statistics (PBS) on Friday, textile exports for December 2023 were $1.4 billion, up from $1.319 billion in November 2023. This represents an increase of 6%. on a monthly basis in the export data. On a year-on-year basis, textile exports in December 2023 also registered a slight increase of 3% in export

January 20, 2024

News Desk

Business

Industries increase imports of plants, machinery

KARACHI: Pakistan gradually increased imports of plant and machinery, indicating that industries are buying capital goods to maintain existing production levels as well as make necessary upgrading and expansion of factories as they foresee a promising growth outlook. The Pakistan Bureau of Statistics (PBS) reported that machinery imports rose 41% to $671 million in December 2023 compared to $475 million in the same month last year. Overall, in the first half (July-December) of the current financial year, imports rose 11% to $3.60 billion against $3.35 billion in the corresponding period of the previous year. Industries have managed to increase imports

January 2, 2024

News Desk

Business

Inflation hits 29.7%, defying expectations for a slowdown

Islamabad: Inflation remained stubborn, reaching 29.7% last month on continued increases in food and energy prices, beating official expectations for a slowdown in price growth. The Pakistan Bureau of Statistics (PBS), the national data collection agency, reported on Monday that the Consumer Price Index rose to 29.7% in December compared to a year ago. The increase contradicts government, central bank and market expectations for a rate cut. Last month, the State Bank of Pakistan had said that, apart from a significant hike in administrative rates, it “continues to expect headline inflation to decline significantly in the second half of fiscal

December 22, 2023

News Desk

Business

Energy imports fell 13% to $1.42 billion in November

KARACHI: Pakistan saw a 13% drop in total energy imports to $1.42 billion in November 2023, shedding light on sluggish demand for oil, petroleum and gas products. Economic activities remained lackluster due to sluggish growth and the recent rise in commodity prices hampered purchasing power in various sectors. Falling demand for products, particularly furnace oil used in power generation, has prompted refiners to explore export opportunities. By exporting furnace oil, refiners created scope to import larger quantities of crude oil, which, in turn, allowed them to produce high-quality products such as gasoline and diesel. According to the latest data from

November 25, 2023

News Desk

Business

“Gas charges rose by 1,109% in one year”: Ministry disputes PBS calculation

The Energy Department claims that natural gas prices have increased by an average of 65% effective from November 2023 In this file photo taken on Oct. 14, 2021, in Dortmund, western Germany, flames from a lit burner of a gas stove are shown. — AFP The claims of the Ministry of Energy are increasing because of a problem in the calculation. Ministry, PBS discuss the methodology used to calculate the increase. The Department says 57% of customers fall into the no-hike category. Islamabad: Gas charges increased by 1,108.59% in the last week of November compared to last year, The news

May 15, 2023

The Pakistan Daily

Pakistan’s population exceeds 240 million, shows PBS data

ISLAMABAD: The Pakistan Bureau of Statistics (PBS) has informed the provinces that no further extension will be granted to the field operations for the 7th Population and Housing Census ending today (Monday). During the 13th meeting of the Census Monitoring Committee, it was decided that the census field operations, of the country’s first-ever digital census, will not be extended beyond this date due to its link with delimitation for upcoming general elections. The PBS conveyed all provincial census commissioners and chief commissioner of Islamabad Capital Territory (ICT) through a letter. As per the available data, till May 12 Pakistan’s Population

March 4, 2023

The Pakistan Daily

Pakistan’s first digital census: PBS extends self-enumeration date till March 10

Pakistan Bureau of Statistics Spokesperson Muhammad Sarwar Gondal said on the explicit recommendation of the provinces the date for self-enumeration at the PBS website has been initially extended for 7 days. Pakistan’s first digital census was kicked off on March 1, 2023, under strict security measures wherein enumeration teams conducted house-to-house census in Karachi, Bhakkar, Hafizabad and Rahim Yar Khan in the first phase. Although it is the seventh census in Pakistan, but the first digital census. The fieldwork for collecting data on a digital basis began on March 1, 2023. A total of 121,000 enumerators will go door-to-door in

March 16, 2021

The Pakistan Daily

Business Featured News Pakistan

9% increase in large scale manufacturing in January 2021

Latest data released by the Pakistan Bureau of Statistics (PBS) shows that large scale manufacturing grew by 9.13% in January 2021 compared to last year. The overall production of large scale manufacturing industries increased by 7.85% from July 2020 to January 2021. Minister for Industries, Hammad Azhar said: “The sustained and robust growth in the industry is expected to lift economic growth beyond earlier forecasts.” Production in the first seven months of FY 2021, as compared to the same period last year, has increased in several industries including textile, food, beverages, tobacco, petroleum products, pharmaceuticals, chemicals, non-metallic mineral products, automobiles

Inflation falls to 16-month low

LSM output hits 21-month high

Textile exports down 5% in 1H24

Industries increase imports of plants, machinery

Inflation hits 29.7%, defying expectations for a slowdown

Energy imports fell 13% to $1.42 billion in November

“Gas charges rose by 1,109% in one year”: Ministry disputes PBS calculation

Pakistan’s population exceeds 240 million, shows PBS data

Pakistan’s first digital census: PBS extends self-enumeration date till March 10

9% increase in large scale manufacturing in January 2021

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