By Staff Reporter
ISLAMABAD: Pakistan’s fiscal deficit is expected to exceed the government’s target by more than one percentage point of gross domestic product in the current financial year, the International Monetary Fund (IMF) said on Wednesday.
Economy
Pakistan seeks financial adviser to privatise loss-making national airline
By Staff Reporter
ISLAMABAD: Pakistan will hire a financial adviser to draft a plan to privatise its money-losing national airline, as part of its fiscal discipline agreement with the International Monetary Fund (IMF).
Pakistan’s economy to grow faster than expected, IMF says
By Staff Reporter
ISLAMABAD Pakistan’s economy is on track to grow faster than previously forecasted by the International Monetary Fund, despite facing macroeconomic and security challenges.
Tax wealth from land and property, World Bank tells Pakistan
By Staff Reporter
ISLAMABAD: Pakistan should increase taxation of high-income earners, especially those who derive income from agriculture and property, and withdraw regressive tax exemptions, the World Bank said.
Afghan cargo stuck at Karachi Port as Pakistan imposes new trade barriers
By Staff Reporter
KARACHI: Pakistan has imposed new fees and restrictions on the transit trade with Afghanistan, blocking hundreds of containers bound for the landlocked country at Karachi port and banning the export of 212 items, including chocolates, footwear, and garments.
Economic crisis, floods push millions into poverty in Pakistan – World Bank
By Staff Reporter
ISLAMABAD: Pakistan’s poverty rate has soared to 39.4 percent in the fiscal year that ended in June, up from 34.3 percent a year earlier, as the country faces a severe economic crisis, high inflation and the aftermath of devastating floods, the World Bank said in a report on Tuesday.
Inflation surges to four-month high after fuel price hike
By Staff Reporter
ISLAMABAD: Inflation in September rose for the first time in four months after the government raised fuel prices to meet International Monetary Fund’s (IMF) conditions for an ongoing $3 billion bailout program.
Exports snap 11-month slump, trade deficit shrinks
By Staff Reporter
ISLAMABAD: Pakistan’s exports of goods rose for the first time in almost a year in September, reversing a prolonged slump caused by a struggling economy, official data showed on Monday.
Cnergyico buys first private shipment of discounted Russian oil
By Staff Reporter
KARACHI: A Pakistani refiner has imported the country’s first private-sector shipment of Russian crude oil, taking advantage of Moscow’s discounts on its oil exports after its invasion of Ukraine.
Photo by Robert So: https://www.pexels.com/photo/electrical-wires-on-wooden-post-on-street-14019256/
Catch 22: Discos’ governors part of problem
Intent on pushing through the privatisation agenda laid down by the previous government, Pakistan’s caretaker government is weighing options to sack the governors of power distribution companies. By Staff Reporter.