By Staff Reporter
ISLAMABAD: Pakistan and the Gulf Cooperation Council agreed to a preliminary free trade deal, the first by the six-nation bloc with any country since 2009, as Islamabad seeks to boost its exports and attract more foreign investment.
By Staff Reporter
ISLAMABAD: Inflation is expected to reach 31 percent in September, as rising fuel and energy prices squeeze consumers and businesses.
By Staff Reporter
ISLAMABAD: Pakistan is seeking around $11 billion in bilateral support from China and Saudi Arabia to fill its external and domestic financing gaps as it tries to keep its IMF program on track, an interim finance minister said on Thursday.
By Staff Reporter
ISLAMABAD: The IMF on Thursday defended its role in Pakistan’s economic recovery, saying that its policies are designed to help the country overcome its fiscal and external imbalances and support its social development goals.
By Staff Reporter
ISLAMABAD: Pakistan is back in the market for liquefied natural gas (LNG) after a year-long hiatus, as it tries to secure supplies for the winter season amid a global gas crunch.
Two heads are better than one, goes the old saw. But two in this case seem to be too many – as in too many cooks spoil the broth. At stake is the economic wellbeing of the country, but does anyone care? By Muhammad Ali.
By Staff Reporter
ISLAMABAD: The caretaker government is seeking to improve the performance of 85 state-owned enterprises (SOEs) that have the potential to pay dividends or become profitable, as it prepares for a possible privatisation drive to dispose of dozens of losing-making entities.
The IMF bailout is a double-edged sword for Pakistan. It saved the country from default, but it also imposed harsh conditions. The country faces a dilemma: how to comply with the Fund without alienating the public, who suffer from inflation and energy prices. The govt must balance fiscal discipline with public welfare. IMF chief recommends taxing the rich and shielding the poor.
ADB lowers Pakistan’s growth forecast to 1.9pc from 2pc, citing erratic rainfall and global price shocks. Inflation projected to rise to 25pc, the highest in Asia. The country’s economic recovery hinges on the IMF-supported adjustment program.
The new massive increase in petrol and diesel prices will set off a tsunami of inflation, testing the masses already grunting under the historic burden of hardship. By Muhammad Ali.
