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In late January, Pakistan lifted the artificial cap on its currency, causing the rupee to plunge 20% against the dollar in a few days. The government raised fuel prices by 16%. And the Pakistani central bank raised its interest rate by 100 basis points to battle the country's highest inflation in decades, expected to be as high as 26% in January.
Pakistan, [e] officially the Islamic Republic of Pakistan, [f] is a country in South Asia. It is the fifth-most populous country, with a population of over 241.5 million, [g] having the second-largest Muslim population as of 2023. Islamabad is the nation's capital, while Karachi is its largest city and financial centre.
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Amid these economic dynamics, Pakistan underwent a structural transition. The GDP share of agriculture declined from 53% in 1947 to 21.2% in 2010, while the GDP share of industry rose from 9.6% in 1949–50 to 25.4% in 2010. Additionally, the GDP share of the services sector increased from 37.2% in 1950 to 53.4% in 2010.
[2] [3] The majority of Pakistan's languages belong to the Indo-Iranian group of the Indo-European language family. [4] [5] Urdu is the national language and the lingua franca of Pakistan, and while sharing official status with English, it is the preferred and dominant language used for inter-communication between different ethnic groups.
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Both Temu and Shein say their growth doesn’t depend on the U.S. exclusion. “We are reviewing the new rule proposals and remain committed to delivering value to consumers,” a Temu ...
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