By Staff Reporter
ISLAMABAD: The International Monetary Fund’s (IMF) Executive Board has released its schedule until August 28, but Pakistan’s name is notably absent from the agenda, casting uncertainty over the final approval of the country’s much-anticipated $7 billion bailout package.
By Staff Reporter
KARACHI: The current account deficit shrank 78 percent to $162 million in July from a year earlier, as exports and remittances surged, data from the State Bank of Pakistan showed on Monday.
By Staff Reporter
ISLAMABAD: Pakistan’s economy is stuck in a “poverty trap” due to decades of poor governance and policy mistakes, according to Atif Mian, a noted Pakistani-American economist, who warned that only a fundamental shift in policy can help the country escape its current economic woes.
By Staff Reporter
ISLAMABAD: Finance Minister Muhammad Aurangzeb on Saturday hailed the launch of BYD, the world’s leading new electric vehicle manufacturer, in Pakistan as a testament to the government’s commitment to creating an environment conducive to economic growth led by the private sector.
By Staff Reporter
ISLAMABAD: Pakistan’s government has embarked on a major overhaul of its bureaucracy, abolishing 28 departments across five ministries and proposing the merger of two ministries, in a bid to slash costs and enhance governance.
By Staff Reporter
KARACHI: Pakistan’s debt burden is easing, with the debt-to-GDP ratio falling to 70 percent in FY24, as nominal GDP growth outpaces debt expansion, and external debt metrics also showing signs of improvement.
By Staff Reporter
ISLAMABAD: Pakistan has secured new commitments worth $2.166 billion from development partners in the seven months to March 2024, the Economic Affairs Division (EAD) said on Tuesday.
By Staff Reporter
ISLAMABAD: The government on Wednesday appointed Rashid Mahmood Langrial as the new chairman of the Federal Board of Revenue (FBR), replacing Malik Amjed Zubair Tiwana who sought early retirement, a notification said.
By Staff Reporter
ISLAMABAD: Pakistan has secured commitments from China, Saudi Arabia and the United Arab Emirates to rollover debt for a year, a boost for the nation as it awaits a final approval for its new $7 billion loan program with the International Monetary Fund, Bloomberg reported on Tuesday.
By Staff Reporter
ISLAMABAD: The short-term inflation rate eased to 18.4 percent in the week ended August 1, the lowest since May 2022, as prices of food and energy items declined, official data showed on Friday.
