By Staff Reporter
ISLAMABAD: Pakistan’s consumer price inflation eased for a second consecutive month in February to its lowest level since June 2022, as food and energy prices moderated amid a slowing economy, official data showed on Friday.
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Pakistan to elect new president and prime minister in back-to-back votes
By Staff Reporter
ISLAMABAD: Pakistan’s election commission announced on Friday that the country would hold a presidential election on March 9, months after the end of the term of the incumbent, Arif Alvi, who presided over a tumultuous period of political and economic instability
Parliament convenes, PM Election on March 3
By Staff Reporter
ISLAMABAD: The lower house of parliament will choose a new prime minister on Sunday, the assembly’s secretariat said on Thursday, after a tumultuous first session that was marred by protests from supporters of the former prime minister Imran Khan, who is in jail on corruption charges.
Pakistan sees inflation easing, growth picking up as IMF deal nears end
By Staff Reporter
ISLAMABAD: The finance ministry said on Thursday that high interest rates and limited fiscal space were hampering the country’s economic recovery, as it projected inflation to ease slightly in the coming months.
The tobacco tax trap
The government has imposed a 200 percent increase in the Federal Excise Duty (FED) on tobacco products, ostensibly to raise revenue. But this policy has backfired, as it has severely damaged the legitimate tobacco industry while fueling the growth of the illicit trade.
Pakistan secures Chinese rollover on $2 billion loan due next month
By Staff Reporter
ISLAMABAD: China has agreed to roll over a $2 billion loan to Pakistan on existing terms, after initially seeking a higher interest rate, as the South Asian nation struggles to maintain its foreign exchange reserves amid mounting debt payments, local media reported on Thursday.
President Alvi summons National Assembly amid criticism and reservations
By Staff Reporter
ISLAMABAD: Pakistan’s President Dr. Arif Alvi on Thursday summoned a session of the newly elected parliament, ending weeks of uncertainty and criticism over his delay in convening the lawmakers.
Nawaz endorses Shehbaz for PM, says he saved Pakistan from collapse
By Staff Reporter
ISLAMABAD: Pakistan’s former prime minister Nawaz Sharif on Wednesday endorsed his brother Shehbaz Sharif as the best choice to lead the country amid multiple challenges, a day before the new parliament is due to be sworn in following a disputed election.
PTI demands IMF freeze Pakistan loan pending vote audit
By Staff Reporter
ISLAMABAD: The party of former prime minister Imran Khan urged the International Monetary Fund (IMF) to withhold any financial assistance to the country until an independent audit into alleged election fraud is completed.
BofA sees value in Pakistan’s long-dated bonds, cites political stability and IMF progress
By Staff Reporter
KARACHI: The Bank of America Corp (BofA) upgraded its outlook for Pakistan’s dollar bonds, citing reduced political uncertainty and potential credit rating upgrades.