There remains no doubt that black market forces are playing havoc with the Pakistani rupee. The government must keep the holes plugged – and work with the IMF to correct the exchange rate mechanism. By Muhammad Ali.
Macro
Photo courtesy Riik@mctr via Flickr.
Source: flickr.com/photos/riikkeary/
Will PIA privatisation devolve into a fire sale?
The national flag carrier’s SOS request for a new cash injection to keep it afloat ahead of its scheduled privatisation has been declined, raising the spectre of the state owned enterprise shutting down before it can be privatised. By Muhammad Ali.
US companies invited to invest via Pakistan’s SIFC
The invitation came as Minister for Commerce Dr. Gohar Ejaz and Ambassador Blome ne to discuss promotion of bilateral trade and investment. By Muhammad Ali.
Caretaker Minister for Finance Dr Shamshad Akhtar and the Caretaker PM’s Advisor on Finance Dr Waqar Masood Khan
Economy on autopilot as cabinet titans clash for primacy
Both economists of stature, Caretaker Minister and Advisor for finance are like two swords caretaker prime minister Kakar is trying to fit in one sheath. What could go wrong? By Muhammad Ali.
Pakistan sets up sovereign wealth fund to boost economy, save for future
By Staff Reporter
ISLAMABAD: Pakistan’s Senate passed a bill on Wednesday to establish a state-owned sovereign wealth fund that aims to stabilize the country’s economy through diversification and to generate wealth for future generations.
SBP holds rate at 22 percent, sees inflation easing
By Staff Reporter
KARACHI: Pakistan’s central bank kept its policy rate unchanged at 22 percent on Monday, saying it expected inflation to ease in the coming months after securing a $3 billion bailout from the International Monetary Fund (IMF).
Pakistan welcomes Chinese vice premier for CPEC anniversary
By Staff Reporter
ISLAMABAD: China’s vice premier, He Lifeng, will arrive in Pakistan on Sunday for a three-day visit to mark the 10th anniversary of a major economic and strategic partnership between the two countries, the Pakistani foreign office said on Saturday.
No default risk in 2019, says PTI’s Umar
By Staff Reporter
ISLAMABAD: Former finance minister Asad Umar on Friday rejected claims by an ex-tax chief that the previous government of Imran Khan was on the verge of defaulting on its debt in 2019.
FBR hikes tax rates on cars, property, and online shopping
By Staff Reporter
ISLAMABAD: Pakistan’s Federal Board of Revenue (FBR) has notified amendments in the Income Tax Law to increase the tax collection from vehicle registration, property transfer, and online payments to non-residents.
Ecnec approves eight development projects worth Rs10.6 trillion
By Staff Reporter
ISLAMABAD: Pakistan’s top economic body approved eight development projects worth around Rs10.6 trillion on Thursday, including a nuclear power plant, a storage dam, and a canal system.