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DHL, a global logistics company, has recently announced that it will be reducing its operations in Pakistan due to restrictions on remittances outflow and worsening economic conditions. The company cited a number of factors for the decision, including high inflation, a weak currency, and a challenging business environment. Pakistan’s foreign investment in shambles Pakistan has […]
In a surprising turn of events, the latest Toyota Land Cruiser now costs a whopping PKR 14 crores in Pakistan and can increase further in the coming months. Yes, that’s right. A Land Cruiser that most of us see on the roads every day is now being sold for an amount that can make anyone’s […]
Fitch Ratings, the global credit rating agency, recently downgraded Pakistan’s long-term foreign currency issuer default rating (IDR) from CCC+ to CCC-. This means that Pakistan’s creditworthiness has further deteriorated, and the country is now closer to defaulting on its international debt obligations. Covid-19, Pakistan economy’s worst nightmare? The downgrade is a reflection of Pakistan’s worsening […]
After facing an immense shortage of gas during the winter season, now, Pakistanis are facing a fuel shortage making it even more difficult to survive in these harsh times. Punjab runs out of petrol As per the latest details, a large number of petrol pumps located in the Punjab area have been shut down for […]
E-commerce giant Daraz recently announced that it will soon lay off 11% of its entire workforce to cope with the extremely difficult economic conditions in Pakistan. The group fully operates in four countries – Pakistan, Bangladesh, Sri Lanka and Nepal. Daraz Managing Director to employees in Pakistan After the announcement, the Managing Director of Daraz […]
Pakistan is facing the worst economic crisis in years, which has started affecting the country’s major sectors. Adding to the extreme conditions, earlier today, Pakistan experienced a severe power outage due to a grid failure leaving the whole country in shambles. Pakistan without electricity In the early hours of the morning at 7:30 am, on […]
Pakistan is currently in the middle of a major economic crisis, forcing several businesses to shut down and local traders going berserk over the worsening conditions. “Save Timber Trade – “Give Dollars” As per official media reports, on Thursday, traders in Karachi took to the streets to put their demands forward and staged a protest […]
