Strong economy cannot be imagined in an unstable state torn by terrorism: Shehbaz Sharif
Jun 23, 2024, at 12:25 am
Pakistan Prime Minister Shehbaz Sharif on Saturday said prevalence of terrorism in his nation was a complicated matter and everyone needs to play their role to end the menace.
Pakistan continues to grapple with inflation, price rise and power cuts
May 01, 2024, at 02:24 pm
Cash-strapped Pakistan has been battling various odds in recent times making the life of common people difficult.
Pakistan’s IMF engagement: A perpetual cycle of bailouts and lessons unlearned
Apr 22, 2024, at 11:08 pm
Cash-strapped Pakistan has officially approached the International Monetary Fund (IMF) for another bailout package ranging between $6 billion and $8 billion, with the possibility of augmentation through climate financing.
Latest ADB report says Pakistan’s economic outlook uncertain with high risks on the downside
Apr 12, 2024, at 06:02 am
The Asian Development Bank (ADB) has said the economic outlook of Pakistan is uncertain, with high risks on the downside, as political uncertainty would remain a key risk to the reform efforts and sustainability of stabilisation.
IMF allows disbursement of 700 mln USD to economic-crisis-hit Pakistan
Jan 12, 2024, at 10:27 pm
The Executive Board of the International Monetary Fund (IMF) completed the first review of Pakistan's economic reform program supported by the IMF's Stand-By Arrangement (SBA), allowing for an immediate disbursement of about 700 million U.S. dollars, the IMF said Thursday.
Pakistan grapples with escalating crisis: A nation on the brink of collapse
Dec 01, 2023, at 03:59 pm
Pakistan is on the brink of collapse. Its economic woes are well-documented, but the recent surge in terrorist attacks across the country paints a far more ominous picture. A disturbing pattern of targeted killings of militants, primarily those affiliated with groups like Lashkar-e-Taiba, Hizbul Mujahideen, and Jaish-e-Muhammed, has emerged in recent months.
Economic crisis forces leading companies to suspend operations in Pakistan
Nov 10, 2023, at 07:23 pm
In a grim turn of events, reports suggest Pakistan’s ongoing economic crisis has compelled some of the nation’s biggest auto giants to halt production. In recent days, the automotive giants Honda, Suzuki, and Toyota have announced the suspension of their operations, raising concerns among Pakistanis about the stability of the automobile industry in the country.
Pakistan’s economy suffers $23 billion blow annually from rampant black marketing and smuggling
Oct 26, 2023, at 05:28 pm
Pakistan is grappling with a crippling economic crisis, losing a staggering USD 23 billion per year due to the pervasive issues of black marketing and smuggling, according to a recent report by ACE Money Transfer, a UK-based company.
Pakistan: KP govt did not release fund to local bodies for two years
Oct 10, 2023, at 11:41 pm
The Khyber Pakhtunkhwa government has not released money to the local bodies out of their Rs63 billion share in the development funds in around two years, leaving the system paralysed, media reports said.
Pakistan needs to substantially increase its investments in human development: World Bank
Oct 05, 2023, at 09:02 pm
The World Bank’s report, Pakistan Human Capital Review (HCR), Building Capabilities Throughout Life, underlines the need for Pakistan to significantly increase investments in human capital to address the severe gaps it faces in education and health outcomes particularly.
Pakistan: Jamaat-e-Islami to observe sit-in in Lahore from today to protest against rising inflation
Sep 21, 2023, at 06:39 pm
Pakistan's Jamaat-e-Islami (JI) has announced it will observe a three-day sit-in demonstration in Pakistan's Lahore city to protest against rising inflation.
Mafias are bleeding Pakistani economy: Intelligence Bureau Report
Sep 15, 2023, at 10:01 pm
A report released by Pakistan's Intelligence Bureau on smuggling, tax evasion, drug trade, illegal currency business and misuse of Afghan transit trade showed mafias are bleeding the economy of the country.
IMF deal not enough for Pakistan: Fitch and Moody’s raise concerns over economic risks
Jul 31, 2023, at 04:24 pm
Fitch Ratings and Moody’s Investors Service on Monday warned of continued threats to Pakistan’s financial sustainability, despite the country receiving a much-needed $3 billion lifeline from the International Monetary Fund (IMF) over the weekend.
Pakistan: Public debt soars 32 percent
Jul 07, 2023, at 10:23 pm
The Pakistani federal government's debt rose 32 percent to Rs58.962 trillion in the year to May, as per data released by the central bank.
Jun 10, 2023, at 09:51 pm
Islamabad: More than 100 technical and vocational training centres are feared to be closed in Pakistan's Khyber Pakhtunkhwa region due to lack of funds, media reports said.
Bangladesh and Pakistan: The Asian Phoenix and the Falling Star
Jun 05, 2023, at 08:42 pm
In the wake of the COVID-19 pandemic, the global landscape has changed drastically, and this change has been no less drastic for the South Asian region. Two countries, Bangladesh and Pakistan, once part of the same nation, now stand worlds apart in their trajectories.
World Bank recommends Pakistan to end subsidies
Apr 18, 2023, at 05:15 am
Islamabad: The World Bank has termed the rise in Pakistan’s fiscal deficit and debt as “dangerous” for its economy and made several suggestions to the country to counter this problem — starting with the end of subsidies.
State Bank of Pakistan massively hikes interest rate by 300bps
Mar 05, 2023, at 12:09 am
The State Bank of Pakistan has moved up key interest rates by a massive 300 basis points (bps), the highest figure touched since 1996.
Mar 01, 2023, at 05:51 pm
Islamabad: Pakistan's middle class and low income groups might be finding a tough time this Ramadan amid rising prices of products.
Ready to live under Narendra Modi's rule: Pakistani citizen tells Youtuber in viral video
Feb 24, 2023, at 09:48 pm
Pakistani Youtuber Sana Amjad's recent video showed a man attacking PM Shehbaz Sharif over the current situation in the country and even wished if Narendra Modi was the head of the nation then they would have been able to buy goods at reasonable price.
Pakistan: Medicine makers ask government to resolve pharma industry's issues, hike prices
Feb 10, 2023, at 11:28 pm
Islamabad: The Pakistan Pharmaceutical Manufacturers Association (PPMA) has asked the government to resolve the matters related to the pharma industry, media reports said.
Economic Crisis: Despite all efforts, Pakistan fails to woo IMF
Feb 10, 2023, at 02:48 pm
Islamabad: Pakistan and the International Monetary Fund (IMF) failed to reach a staff-level agreement after 10 days of "tough" parleys aimed at unlocking critical funds needed for the cash-strapped nation.
Pakistan's currency drops to a record low after govt ends control
Jan 27, 2023, at 02:51 am
Islamabad: Pakistan's currency Thursday fell to a record low of Rs 255 against the US dollar, according to local media reports.
Pakistan facing shortage of essential supply of emergency medicines
Jan 26, 2023, at 10:08 pm
Islamabad: A large region of Pakistan is facing shortage in essential supply of emergency medicines and surgical items at a time when the country is also battling a financial crisis.
Pakistan requests IMF to send review mission next week
Jan 20, 2023, at 09:09 pm
Islamabad: Pakistan Prime Minister Shehbaz Sharif sent a letter to the International Monetary Fund (IMF) requesting the lender of the last resort to send its review mission to the federal capital next week, media reports said.
Association claims 7 million people laid off in Pakistan textile industry
Jan 12, 2023, at 12:23 am
Islamabad: About seven million people in textile and textile-related industries have been laid off due to dwindling exports and the government’s failure to end the economic crisis, experts associated with the industry said.
Pakistan needs to take internal steps for economic recovery: Martin Raiser
Oct 23, 2022, at 10:38 pm
Islamabad: Pakistan will have to take internal measures along with help from the international community by implementing economic reforms to recover from the cataclysmic floods, World Bank Vice President for South Asia Martin Raiser said.
Shehbaz Sharif says even friendly countries are ‘fatigued’ by Pakistan's aid seeking
Sep 17, 2022, at 05:12 am
Islamabad: Pakistan Prime Minister Shehbaz Sharif recently highlighted the poor economic state of the nation when he said friendly countries had started looking at Pakistan as a country that was always asking for money.
Pakistan facing severe liquidity crunch
Sep 12, 2022, at 01:06 am
Pakistan, a nation which is facing severe flooding in recent weeks, is reeling under a dollar liquidity crunch, media reports said.
Pakistan: Flood to cause USD 4b loss to economy
Aug 29, 2022, at 06:07 pm
Quetta: The ongoing flash floods and heavy rains, which is ravaging Pakistan, is estimated to have cost the country's economy over USD 4 billion in the current fiscal year.