By Staff Reporter
ISLAMABAD: The rift between Pakistan’s judiciary and government has deepened as the parliament rejected the Supreme Court’s decision on Punjab elections case and demanded a full court to decide the dispute.
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Economist Atif Mian warns of Pakistan’s economic catastrophe, blames politicians, generals, and judiciary
By Staff Reporter
KARACHI: Pakistan’s economy is spiraling out of control, from crisis to catastrophe, and now the system is becoming unhinged, warns renowned economist Atif Mian.
Pakistan awaits $1bn from UAE, nears IMF deal with Saudi Arabia deposit confirmed
By Staff Reporter
ISLAMABAD: Pakistan is anticipating an additional $1 billion deposit from the United Arab Emirates (UAE) as it moves towards a staff-level agreement (SLA) with the International Monetary Fund (IMF), following confirmation of $2 billion in additional deposits from the Kingdom of Saudi Arabia, according to local media reports on Wednesday.
ECP announces May 14 as date for Punjab polls following Supreme Court ruling
By Staff Reporter
ISLAMABAD: Pakistan’s election watchdog has announced that the polls in the politically significant Punjab province will be held on May 14, as directed by the Supreme Court.
Public debt surges by 27.1pc YoY to Rs54.353 trillion
By Staff Reporter
KARACHI: Pakistan’s public debt has increased by 27.1 percent year-on-year to reach Rs54.353 trillion at the end of February 2023, according to data released by the central bank on Wednesday.
Coalition cabinet rejects Supreme Court’s verdict on election delay
By Staff Reporter
ISLAMABAD: The coalition cabinet of Prime Minister Shehbaz Sharif on Tuesday swiftly rejected the verdict of the Supreme Court regarding the postponement of elections in Punjab and Khyber Pakhtunkhwa (KP).
World Bank recommends overhaul of cigarette taxation in Pakistan to boost revenues
By Staff Reporter
ISLAMABAD: The World Bank (WB) has recommended the government to abolish the exiting two-tier system and introduce a single-tier levy on the premium excise duty rate for maximizing revenues from the cigarette industry.
World Bank cuts Pakistan’s GDP forecast to 0.2pc
By Staff Reporter
ISLAMABAD: The World Bank sharply lowered Pakistan’s growth forecast for the current fiscal year of 2022/23, saying the country’s economic growth prospects have weakened due to tighter financial conditions and limited fiscal space.
SBP delivers small rate increase of 100bps to fight sky-high inflation
By Staff Reporter
KARACHI: The central bank of Pakistan raised its key interest rate by 100 basis points to 21 percent on Tuesday to contain inflation, which remains at red-hot levels.Â
Supreme Court says provincial polls delay ‘unconstitutional’
By Staff Reporter
ISLAMABAD: Pakistan’s powerful Supreme Court on Tuesday ordered provincial polls in Punjab and KPK to go ahead as planned, saying the election watchdog’s decision to postpone elections till October 8 was unconstitutional.