Pakistan Economy: News & Discussion

SanjeevM

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FalconSlayers

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Pakistan Chooses Blasphemy Laws And Human Rights Abuses Over Trade With EU : Loss Of GSP+ Status May Result in €3 Billion Loss

#EU #EuropeanUnion #GSP #Pakistan #BlasphemyLaws #HumanRightsAbuses #EnforcedDisappearance #ForcedConversions


@Lonewolf @sorcerer @Hariharan_kalarikkal @rock127 @Raaakisazih @FalconSlayers @ladder @bhramos @asaffronladoftherisingsun @ezsasa @Nationalist Manasvi Papa @SUPERPOWER @Kchontha @Scramjet @StealthFlanker @roma @RoaringTigerHiddenDragon @mist_consecutive
Not going to happen just roohani news
 

FalconSlayers

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mushahary

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is not 164 still high for PKR, they are importing everything and in return only exports some low value products like towels and kinnows. the original value could be around 250PKR :rofl:

edit: edited the value
 
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FalconSlayers

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Alarm bells ringing as trade deficit hits $3.058bn in July


1628418288190.png


The government’s battle against bloated trade deficit is reversing as it widened 81.4 per cent in the first month of the current fiscal year (FY22), driven largely by almost double increase in imports compared to exports from the country.

Merchandise trade deficit reached $3.058 billion in July this year against $1.686bn over the corresponding month last year, according to data shared by the Ministry of Commerce on Monday.

Trade deficit reached an all-time high of $37.7bn in FY18. However, the government’s measures led to a drop in trade deficit to $31.8bn in FY19 and $23.183bn in FY20. The trend reversed and trade deficit was recorded at $30.796bn in FY21.

PM’s aide says government has set $38.7bn export target for FY22
Trade gap has been widening since December 2020, mainly led by exponential growth in imports and comparatively slow growth in exports.


The import bill in July this year went up 46.6pc to $5.405bn against $3.687bn over the corresponding month last year. In the outgoing fiscal year (FY21), the import bill surged by 25.8pc to $56.091bn from $44.574bn the previous year. On a month-on-month basis, the import bill increased by 10.69pc.

The import bill is also rising mainly due to increased imports of petroleum, soybean, machinery, raw material and chemicals, mobile phones, fertilisers, tyres and antibiotics and vaccines. The growth in remittances at the moment will be sufficient to finance the import bill.

Exports posted a growth year-on-year by 17.3pc to $2.347bn in July 2021 against $2.001bn over the corresponding month last year. On a month-on-month basis, exports of merchandise dipped by 13.64pc. Export proceeds went up 18.2pc to $25.294bn in FY21 from $21.394bn over the last year.

Adviser to the Prime Minister on Commerce Razak Dawood has said the government sets an export target of $38.7bn for the current fiscal year.

Addressing a press conference along with PM’s special assistant Shahbaz Gill here on Monday, he said exports had touched the highest-ever mark of over $25bn in FY21.

Mr Dawood said the export target of commodities for FY21 was $25.3bn and that of services was $6bn. He said the highest-ever export of IT services was recorded in the outgoing fiscal year, which grew by 47pc to $2bn.

For the current fiscal year, he said the commerce ministry projected $31.2bn worth of goods and $7.5bn of services exports.

Mr Dawood said the government was focusing on the export-oriented policy, besides pursuing a policy of “Make in Pakistan” to encourage the local industry and make locally produced goods internationally compatible for exports.

 

FalconSlayers

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Pakistani startup sees the country’s largest funding round (Lol seriously!!! :lol:)
The online shopping delivery firm pivoted in the pandemic to offer 30-minute deliveries, raised $85m in Series B round. (Yup it’s Pakiland’s largest, lmao 🤣 ).

Airlift plans to expand its operations to 15 Pakistani cities by the end of the year [File: Asim Hafeez/Bloomberg]

Airlift plans to expand its operations to 15 Pakistani cities by the end of the year [File: Asim Hafeez/Bloomberg]
By Faseeh Mangi and Chris KayBloomberg
18 Aug 2021

Airlift Technologies Pvt. has scored the largest single private funding round in Pakistan’s history ahead of plans to enter overseas markets, as the country begins to join a regional startup financing boom.

The Lahore-based online shopping delivery firm raised $85 million
in Series B financing co-led by Harry Stebbings from 20VC and Josh Buckley from Buckley Ventures Ltd., with participation from former Y Combinator president Sam Altman. That would be the largest-ever round for a Pakistani startup, according to a data tracker from venture capitalist fund Invest2Innovate.

KEEP READING
How children are paying the price in Pakistan’s mass HIV outbreak 😆
‘Challenge your limit’: Pakistani teenager who summited K2Fear and stigma

slow COVID vaccine drive among trans Pakistanis
Pakistan says ‘closely following’ situation in Afghanistan


Pakistan is “in the very early stages, but the transformation is happening very, very quickly and we are seeing a shift in behavior,” Airlift co-founder Usman Gul said in an interview. “We have a lot of people who previously didn’t shop online.”

The investment in Pakistan, a country of more than 200 million people — the world’s fifth-most populous — with a fledgling tech industry :rofl:, mirrors a wave of investment across the border in India
1629360088212.gif
.
Pakistani startups, the bulk of which are focused on e-commerce, raised a record $101 million in the first half of this year compared with $66 million in all of 2020, according to Invest2Innovate data. That’s still dwarfed by its neighbor, where technology startups scored a record $6.3 billion in the second quarter.

For Airlift, the funding comes after the company pivoted around September into e-commerce with 30-minute shipments after the pandemic halted their main business — selling air-conditioned bus rides. It enters a space that’s hotly competitive around the world, where grocers and e-commerce startups like Dunzo, Gorillas, Getir, and Gopuff battle to provide swift deliveries across traffic-clogged cities from Delhi (What’s the obsession with India?) to New York and London.

Airlift’s fund raise is equal to the entire amount raised by Pakistani startups in the first half of the year. It also eclipses the largest initial public offering by the nation’s private sector, according to data compiled by Bloomberg (Such a pathetic state of Paki economy).

It now plans to expand its operations to 15 Pakistani cities by end of the year, up from a current eight. It’s also in the middle of a hiring spree with plans to double its core workforce to 400 by the end of next year, Gul said. The company is looking to enter an overseas developing market in about three months.

“Very quickly we realized that the distribution of consumer goods was quite broken,” he said. “I ordered groceries and had to wait six hours to get that delivery. So we wanted to change that.”




____________________________________________________________________________________
Funniest shit, I’ve ever heard of!!!
Everywhere trying to compare with India, can’t live without India these Pakis!


1629360277356.gif
 

FalconSlayers

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Pakistani startup sees the country’s largest funding round (Lol seriously!!! :lol:)
The online shopping delivery firm pivoted in the pandemic to offer 30-minute deliveries, raised $85m in Series B round. (Yup it’s Pakiland’s largest, lmao 🤣 ).

Airlift plans to expand its operations to 15 Pakistani cities by the end of the year [File: Asim Hafeez/Bloomberg]

Airlift plans to expand its operations to 15 Pakistani cities by the end of the year [File: Asim Hafeez/Bloomberg]
By Faseeh Mangi and Chris KayBloomberg
18 Aug 2021

Airlift Technologies Pvt. has scored the largest single private funding round in Pakistan’s history ahead of plans to enter overseas markets, as the country begins to join a regional startup financing boom.

The Lahore-based online shopping delivery firm raised $85 million
in Series B financing co-led by Harry Stebbings from 20VC and Josh Buckley from Buckley Ventures Ltd., with participation from former Y Combinator president Sam Altman. That would be the largest-ever round for a Pakistani startup, according to a data tracker from venture capitalist fund Invest2Innovate.

KEEP READING
How children are paying the price in Pakistan’s mass HIV outbreak 😆
‘Challenge your limit’: Pakistani teenager who summited K2Fear and stigma

slow COVID vaccine drive among trans Pakistanis
Pakistan says ‘closely following’ situation in Afghanistan


Pakistan is “in the very early stages, but the transformation is happening very, very quickly and we are seeing a shift in behavior,” Airlift co-founder Usman Gul said in an interview. “We have a lot of people who previously didn’t shop online.”

The investment in Pakistan, a country of more than 200 million people — the world’s fifth-most populous — with a fledgling tech industry :rofl:, mirrors a wave of investment across the border in IndiaView attachment 105665. Pakistani startups, the bulk of which are focused on e-commerce, raised a record $101 million in the first half of this year compared with $66 million in all of 2020, according to Invest2Innovate data. That’s still dwarfed by its neighbor, where technology startups scored a record $6.3 billion in the second quarter.

For Airlift, the funding comes after the company pivoted around September into e-commerce with 30-minute shipments after the pandemic halted their main business — selling air-conditioned bus rides. It enters a space that’s hotly competitive around the world, where grocers and e-commerce startups like Dunzo, Gorillas, Getir, and Gopuff battle to provide swift deliveries across traffic-clogged cities from Delhi (What’s the obsession with India?) to New York and London.

Airlift’s fund raise is equal to the entire amount raised by Pakistani startups in the first half of the year. It also eclipses the largest initial public offering by the nation’s private sector, according to data compiled by Bloomberg (Such a pathetic state of Paki economy).

It now plans to expand its operations to 15 Pakistani cities by end of the year, up from a current eight. It’s also in the middle of a hiring spree with plans to double its core workforce to 400 by the end of next year, Gul said. The company is looking to enter an overseas developing market in about three months.

“Very quickly we realized that the distribution of consumer goods was quite broken,” he said. “I ordered groceries and had to wait six hours to get that delivery. So we wanted to change that.”




____________________________________________________________________________________
Funniest shit, I’ve ever heard of!!!
Everywhere trying to compare with India, can’t live without India these Pakis!


View attachment 105667
SUCH IS THE CONDITION THAT JUST $85 MILLION FUNDING CAUSED PAKI PM TO CONGRATULATE, YAHA TOH BILLIONS OF DOLLARS KA HOTA HAI, MODI KO GHANTA FARK NAHI PADTA :lol:

'Pakistan is open for business': PM Imran lauds Airlift achievement of securing $85m financing

Dawn.com
August 20, 2021


1629473572682.jpeg



Prime Minister Imran Khan says the PTI government is fully committed to creating further business opportunities.


Prime Minister Imran Khan on Friday welcomed the $85 million investment through Series B financing — the largest single private funding round in Pakistan’s history — in Airlift, a Lahore-based online shopping delivery service.
Series B financing is the second round of funding for a company that has met certain milestones and is past the initial startup stage.

"We welcome the recent investment of $85m by leading VCs (venture capitalists) of the world in Airlift, a company led by young Pakistanis," he tweeted.

The premier said Pakistan had "huge potential" and was open for business, adding that the PTI government was "fully committed" to creating further opportunities.

Responding to the prime minister's tweet, Airlift thanked him for bringing attention to the milestone, adding that it would pave the way for more investments in Pakistani startups.

Punjab Chief Minister Usman Buzdar also praised the achievement. He said he was "glad" to share that global investors were exhibiting confidence in Pakistan's evolving technology space.

Azhar Mashwani, Punjab chief minister's focal person for digital media, meanwhile, pointed out that investment in Pakistani startups had increased from $170m between 2015 and 2020 to $193m in 2021 alone.
"Best of luck to Airlift and all others," he tweeted.

The $85m amount raised is around twice the size of the largest private company initial public offering in Pakistan’s history and the highest in the Middle East and North Africa region.

Airlift Technologies Co-founder and CEO Usman Gul said the financing would add five per cent to the country’s foreign direct investment for the fiscal year 2022.

“A year ago, Airlift halted operations on the transit service and diversified into last-mile grocery delivery. Today, our team closed $85m in Series B financing to scale our delivery platform across continents.

"With this financing, we as Pakistanis must return to where we started from fighting against the odds and staying true to our core values of hustle, teamwork, resourcefulness, and bias to action. If this is the journey of a thousand miles, we have taken only the first step,” he said.
 
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Hariharan_kalarikkal

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SUCH IS THE CONDITION THAT JUST $85 MILLION FUNDING CAUSED PAKI PM TO CONGRATULATE, YAHA TOH BILLIONS OF DOLLARS KA HOTA HAI, MODI KO GHANTA FAR NAHI PADTA :lol:

'Pakistan is open for business': PM Imran lauds Airlift achievement of securing $85m financing

Dawn.com
August 20, 2021


View attachment 105866


Prime Minister Imran Khan says the PTI government is fully committed to creating further business opportunities.


Prime Minister Imran Khan on Friday welcomed the $85 million investment through Series B financing — the largest single private funding round in Pakistan’s history — in Airlift, a Lahore-based online shopping delivery service.
Series B financing is the second round of funding for a company that has met certain milestones and is past the initial startup stage.

"We welcome the recent investment of $85m by leading VCs (venture capitalists) of the world in Airlift, a company led by young Pakistanis," he tweeted.

The premier said Pakistan had "huge potential" and was open for business, adding that the PTI government was "fully committed" to creating further opportunities.

Responding to the prime minister's tweet, Airlift thanked him for bringing attention to the milestone, adding that it would pave the way for more investments in Pakistani startups.

Punjab Chief Minister Usman Buzdar also praised the achievement. He said he was "glad" to share that global investors were exhibiting confidence in Pakistan's evolving technology space.

Azhar Mashwani, Punjab chief minister's focal person for digital media, meanwhile, pointed out that investment in Pakistani startups had increased from $170m between 2015 and 2020 to $193m in 2021 alone.
"Best of luck to Airlift and all others," he tweeted.

The $85m amount raised is around twice the size of the largest private company initial public offering in Pakistan’s history and the highest in the Middle East and North Africa region.

Airlift Technologies Co-founder and CEO Usman Gul said the financing would add five per cent to the country’s foreign direct investment for the fiscal year 2022.

“A year ago, Airlift halted operations on the transit service and diversified into last-mile grocery delivery. Today, our team closed $85m in Series B financing to scale our delivery platform across continents.

"With this financing, we as Pakistanis must return to where we started from fighting against the odds and staying true to our core values of hustle, teamwork, resourcefulness, and bias to action. If this is the journey of a thousand miles, we have taken only the first step,” he said.
Imran Khan will start Dancing even for a rupee in his Begging bowl let alone 85million USD


Meanwhile
03-Jul-2021 — Indian startups in H1 2021 are likely to witness record breaking venture capital inflow ($22.6 Bn) by the end of 2021. Highest till date.

This is in lockdown
Fascist Mudi Ji after hearing this:
4qF5ix-l_400x400.jpg
 

FalconSlayers

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Modi says Ram Rajya, Imrand says Riyasat-e-madina (Ram Rajya sort of thing for Muslims)
Modi says Digital India, Imrand says Digital Pakistan
Modi says double farmer income, Imrand says double farmer income
Modi says India means business, Imrand says Pakistan means business
Modi says swachh bharat abhiyaan, Imrand says clean and green pakistan program


Not surprised considering that even Zia-ul-Fuck used to call Pakistan as 3rd class India, so when you are 3rd class India, you act like one and world will treat you like one,
 

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