The missing link - Newspaper dawn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from dawn.com Daily Mail and Mail on Sunday newspapers.
Economy in recovery phase
LAHORE:
Signs of recovery are gradually appearing. Exports grew around 18% in dollar value while imports rose around 26%.
The imports outpacing exports resulted in a ballooning trade deficit of $31 billion. This is usual recovery story in a developing economy where imports normally exceed exports.
Bourgeoning remittances of $29.4 billion played a major role in bridging the trade gap in FY21. However, debt servicing requirements were fulfilled through multilateral financing and commercial borrowing fetched through Eurobonds and Sukuk.
Both exports and imports went down in FY19 and FY20. In those years, the government pursued a macroeconomic stabilisation path, which slowed the economy down.
Bitcoin tokens Bitcoin tokens (AP photo)
Once a week Ghulam Ahmed, 38, takes time out from his cryptocurrency consulting business to log into a WhatsApp group with hundreds of members eager to learn how to mine and trade cryptocurrency in Pakistan.
From housewives looking to earn a side income to wealthy investors wanting to buy cryptomining hardware, many barely understand traditional stock markets but all are eager to cash in. When I open the session for questions, there s a flood of messages, and I spend hours answering them, teaching them basic things about cryptocurrency, said Ahmed, 38, who quit his job in 2014, believing it was more profitable to mine Bitcoin.
Pakistan mulls rules for cryptocurrencies as social media fans boom in mining and trading dealstreetasia.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from dealstreetasia.com Daily Mail and Mail on Sunday newspapers.
Representations of virtual currency Bitcoin are seen in this picture illustration. Reuters/File
ISLAMABAD: Once a week Ghulam Ahmed, 38, takes time out from his cryptocurrency consulting business to log into a WhatsApp group with hundreds of members eager to learn how to mine and trade cryptocurrency in Pakistan.
From housewives looking to earn a side income to wealthy investors wanting to buy cryptomining hardware, many barely understand traditional stock markets but all are eager to cash in.
“When I open the session for questions, there’s a flood of messages, and I spend hours answering them, teaching them basic things about cryptocurrency,” said Ahmed, 38, who quit his job in 2014, believing it was more profitable to mine Bitcoin.