Majority of Pakistanis unable to cover basic expenses: Survey
Financial struggles among urban households in Pakistan have risen by 14% over the past year. As a result, 74% of the urban population in the country now find it difficult to cover their monthly expenses with their current income. The latest Pulse Consultant study reveals a sharp increase in financial
Bank borrowings hit Rs6.2 tr in just 10 months
WEB DESK: Pakistan’s government surpassed its treasury bills auction target, raising Rs640 billion on Wednesday, while simultaneously reducing the cut-off yields for various tenors by up to 49 basis points. Despite a target of Rs450 billion, the overwhelming response saw bids totaling over Rs1.8 trillion, indicating investors’ preference for risk-free
IMF recommends Pakistan to increase GST to 18 pc
WEB DESK: The International Monetary Fund (IMF) has proposed that Pakistan elevate its general sales tax (GST) to 18 per cent, as disclosed in recent discussions between the IMF delegation and Pakistani authorities regarding a potential new loan arrangement. During four extensive rounds of talks, the IMF mission expressed concerns
What happened during the talks between Pakistan and the IMF?
Pakistan and the International Monetary Fund (IMF) are in ongoing discussions regarding a new bailout package to address economic challenges. Sources familiar with the negotiations revealed that both the sides exchanged views to meet the financial needs for the upcoming fiscal year. According to sources, Pakistan discussed the initial estimates
Massive relief: petrol price reduced by Rs15 per litre
WEB DESK: The cost of petrol in Pakistan has undergone a significant reduction, plummeting by Rs15 per litre to reach Rs273.1 per litre. Simultaneously, diesel prices have also seen a decrease of Rs7 per litre, now standing at Rs274.8 per litre. These adjustments are slated to be enforced starting from
Notification issued for reducing wheat, electricity prices in AJK
WEB DESK: A notification issued by the government outlines significant reductions in the prices of electricity and wheat flour. The AJK Food Department disclosed that the price of a 20kg bag of flour has been lowered to Rs1,000. Additionally, electricity tariffs for domestic consumers utilising 100 units will see a
IMF warns of significant risks to Pakistan’s debt repayment capacity
IMF has expressed concerns over Pakistan’s ability to handle its debt amidst its economic challenges. The statement follows the arrival of an IMF support team in Pakistan to discuss a potential bailout package. According to the IMF’s recent staff report, Pakistan’s debt repayment capability faces significant risks, heavily reliant on
Pakistan imports $1 bn of wheat in first nine months of FY: report
Pakistan is currently facing an estimated shortfall of 2.5 million tonnes of wheat, a staple food for a majority of its citizens.
Harvard students to study Pakistan’s ‘Nazuk Mor’
WEB DESK: The case study titled “Pakistan at 75: When Will the ‘Nazuk Mor’ End?” is circulating in WhatsApp groups and designed for use in Professor Alberto Cavallo’s Business, Government, and the International Economy course at Harvard Business School during the Spring 2024 semester. This MBA program holds the impressive
UN anticipates 2 pc GDP growth, 26 pc inflation for Pakistan in current FY
The UN report suggests a slight uptick in GDP growth to 2.3 % in coming FY, while projecting inflation to decrease to around 12.2 %.
