Pak Trend Line

Pakistan Trending News Line

Business and Economy

Pakistan Economic Update July 2024: Stock Market Surge, Auto Financing Decline, and Trade Deficit Rise

ByIzhar Ul Haq

Jul 26, 2024 #Auto Financing, #Currency Rates, #Economic News Pakistan, #Leather Industry Crisis, #Pakistan Business News, #Pakistan Economic Update, #Policy Rate Cut, #PSX, #Stock Market, #Trade Deficit
Pakistan's economic challenges with easing inflation and persistent hurdles.Pakistan faces ongoing economic challenges despite a slight easing in inflation.
81 / 100
Powered by Rank Math SEO

Pakistan Economic Update – Latest Business News – July 2024

Increase in Pakistan Stock Exchange

The Pakistan Economic Update reveals that the Pakistan Stock Exchange (PSX) saw an increase of 410 points yesterday. This rise occurred as investors invested in their stocks on news of an expected policy rate cut. Additionally, the market was strengthened by expectations of a potential rating upgrade from Moody’s.

 

Continuous Decline in Auto Financing for the Second Year

According to the Pakistan Economic Update, the auto financing sector in Pakistan is witnessing a continuous decline for the second consecutive year. The reasons for this decline include economic difficulties and high interest rates. Auto parts manufacturers are hoping that a reduction in interest rates will help revive financing.

 

Crisis in the Leather Industry

The Pakistan Economic Update highlights that Pakistan’s leather industry is facing a severe liquidity crisis. Leather product manufacturers have demanded tax relief from the government to prevent further damage to this industry. According to them, if immediate measures are not taken by the government, this industry could face a significant crisis.

 

Trade Deficit Increased by 49%

The Pakistan Economic Update reports that the trade deficit with Pakistan’s nine regional countries has increased by 49%. The major reason for this deficit is the 40% rise in imports from China, which have reached $13.5 billion. These figures indicate that Pakistan needs to take immediate steps to improve its trade balance.

 

 

Also Read: Pakistan Boosts Military Budget Amid Economic Struggles

Hopes for Policy Rate Cut

Expectations for a policy rate cut have increased following the reduction in T-bills yields, according to the Pakistan Economic Update. In the recent T-bills auction, the government raised Rs. 481 billion while the target was Rs. 150 billion. According to economists, this development indicates that a policy rate cut may occur in the near future, which would be a positive step for the economy.

 

Currency Rates and Gold Prices

The Pakistan Economic Update from Bol News indicates recent changes in various currency rates and gold prices in Pakistan. Along with stability in gold prices, there has been a slight fluctuation in currency rates, reflecting international economic conditions.

 

This Pakistan Economic Update information has been obtained from various reliable sources to provide you with the latest and most accurate business news. For more details, please visit the relevant news websites.

By Izhar Ul Haq

Izhar Ul Haq is a professional blogger and WordPress management expert. He is known for his expertise in various categories of blogging, with a special focus on politics. As an administrator at Paktrendline, Izhar Ul Haq ensures a smooth and engaging experience for readers interested in politics and current affairs.

Related Post

Business and Economy Politics

Pakistan’s Economic Challenges: Inflation Eases, But Hurdles Persist

Aug 9, 2024 Izhar Ul Haq
Business and Economy

Disruptions in WhatsApp Usage for 4G and 3G Mobile Data Users in Pakistan: Here’s Why

Jul 21, 2024 Izhar Ul Haq
Business and Economy Politics

Government’s Intra-Court Appeal Against Nullification of NAB Amendments; PTI Founder Submits Written Response in Supreme Court

Jul 10, 2024 Izhar Ul Haq

Leave a Reply

Your email address will not be published. Required fields are marked *

You missed

Politics

Imran Khan’s Bid for Oxford Chancellor: A Comprehensive Overview

August 25, 2024 Izhar Ul Haq
Politics

PTI’s Islamabad Jalsa Cancelled: NOC Revoked and Section 144 Imposed

August 22, 2024 Izhar Ul Haq
Historical Figures Politics

Imran Khan Oxford Chancellor: Surprising Bid for Oxford Leadership

August 22, 2024 Izhar Ul Haq
Politics

Election Commission Releases New List of Registered Political Parties: PTI’s Status Remains, but Chairman’s Name is Provisional

August 21, 2024 Izhar Ul Haq