Pakistan’s IMF engagement: A perpetual cycle of bailouts and lessons unlearned
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
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
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
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
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
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
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
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
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
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
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
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.
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
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
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.