By Staff Reporter
KARACHI: Pakistan’s economy is on the verge of collapse, with inflation soaring, growth stagnating, debt mounting, and investment dwindling, according to a globally renowned economist who criticized the recent elections as fraudulent and manipulated by the military establishment.
By Staff Reporter
KARACHI: Pakistan’s dollar bonds fell on Friday as the country awaited the outcome of a closely contested general election, with early results showing a tight race between the main political parties.
By Staff Reporter
KARACHI: Former central bank chief Reza Baqir said on Thursday that the new government that emerges from the ongoing elections will face tough economic challenges and will need to negotiate a new deal with the International Monetary Fund (IMF) to avoid a debt crisis.
By Staff Reporter
ISLAMABAD: Pakistan’s hopes of securing higher credit ratings hinge on whether this week’s election produces a government that can push through tough reforms and secure more financing from the International Monetary Fund, S&P Global Ratings said.
By Staff Reporter
ISLAMABAD: The election watchdog has halted the sale of the loss-making national carrier Pakistan International Airlines (PIA), saying the legally restricted caretaker government cannot take such a major policy decision ahead of a general election next week.
By Staff Reporter
ISLAMABAD: The power regulator has approved a hike in electricity tariffs for February 2024, passing on the higher fuel costs incurred in December 2023 to consumers.
By Staff Reporter
ISLAMABAD: Pakistan’s annual consumer price inflation eased slightly to 28.3 percent in January, the Pakistan Bureau of Statistics (PBS) said on Thursday, but remained well above the central bank’s target range of 23-25 percent for the fiscal year ending in June.
By Staff Reporter
ISLAMABAD: The caretaker government announced a sharp increase in fuel prices on Wednesday, citing higher international costs and import premiums.
By Staff Reporter
ISLAMABAD: The caretaker government said on Tuesday it would leave the implementation of a sweeping tax reform plan to the next elected administration after the election commission objected to its move to restructure the revenue board.
By Staff Reporter
KARACHI: The central bank kept its key interest rate unchanged for a fifth straight meeting on Monday, as it expects inflation to ease from March after staying elevated for months.
