Mired in myriad troubles rooted in mismanagement, corruption, and union unrest, the ailing industrial colossus remains unamenable to a turnaround under public sector management. By Naveed Naqvi.
Trending
Pakistan’s billion-dollar power theft problem
The authorities are dealing finishing touches to a comprehensive plan to staunch electricity theft, which cost Pakistan almost USD 1.5 billion this year alone. By Naveed Naqvi.
Armed militants attack police compound in Karachi
By Staff Reporter
KARACHI: A group of armed militants attacked Karachi police headquarters on Friday, as paramilitary troops and police rushed to stave off the attack in the city’s high security zone amid an uptick in terror targets across the country.
Minibudget passes Senate body after tough speechmaking
Treasury and opposition members made hard-hitting speeches against the inflationary measures included in the supplementary finance bill, but the committee eventually embraced the draft law, requisite to unlock financing from the International Monetary Fund (IMF). By Naveed Naqvi.
Dar tables IMF-backed mini-budget to raise Rs170bln additional in taxes
By Staff Reporter
ISLAMABAD: The government on Wednesday tabled a money bill in parliament to raise Rs170 billion in taxes by June this year as part of conditions by the International Monetary Fund (IMF) to revive a stalled $6.5 billion loan program.
Medical school priced out of common Pakistani’s reach, says parliamentary panel
Members of the Standing Committee on Health of the National Assembly say the government must bring medical students’ tuition fees in line with levels in vogue in other comparable economies. By Naveed Naqvi.
Fitch downgrades Pakistan’s Issuer Default Rating to CCC-
By Staff Reporter
KARACHI: Fitch on Tuesday cut Pakistan’s sovereign credit rating by a notch to CCC- from CCC+, citing policy risks, critically low reserves and large refinancing risks, and difficult conditions set by the International Monetary Fund (IMF).
Gas prices raised to unlock IMF funding
By Staff Reporter
ISLAMABAD: The government approved a plan to increase domestic gas prices to meet a key condition set by the International Monetary Fund for reviving its bailout program as the two sides resume talks virtually on Monday to reach a deal.
Image courtesy of PALSP
Steel industry airs SOS call for LCs
Already under pressure amid tough economy, the steel industry says its very existence is threatened by the foreign exchange crisis, depriving them of crucial inputs. By Muhammad Ali.
Image: Google Maps screenshot (https://www.google.com/maps/@33.6958923,72.8965048,14z)
Margalla Avenue ready for inauguration
The Margalla Avenue has been a long time coming, but it is here now – and ready to be commissioned next week. By Naveed Naqvi.