Why Pakistan must embrace structural reforms
In the aftermath of the IMF-sponsored $7 billion Extended Fund Facility (EFF) program, Pakistan’s economy has entered into a phase of stabilisation mode as higher inflation has witnessed a sharp decline, and real GDP growth could only go up with the right kind of interventions
Rs190 billion daily loss hits Pakistan’s economy amid protests
The Ministry of Finance has estimated a whopping loss of Rs190 billion per day in the wake of the country's lockdown owing to protests by the opposition party.
State Bank of Pakistan cut its key policy rate
The State Bank of Pakistan (SBP) has announced a cut to its key policy rate by 250 basis after inflation dropped to single digit. “At its meeting today, the Monetary Policy Committee (MPC) decided to cut the policy rate by 250 basispoints to 15 percent, effective from November 5, 2024″,
Finance Minister leaves for USA to attend IMF, World Bank meetings
Finance Minister, Muhammad Aurangzeb has left for the United States (US) to attend the annual meetings of the International Monetary Fund (IMF) and World Bank.
Gold price per tola decreases Rs700 in Pakistan
On Tuesday, gold prices decrease in Pakistan, reflecting a decrease in international rates. According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold per tola dropped by Rs700, settling at Rs275,000 in the local market. Similarly, the price of 10-gram gold fell by Rs600, bringing it
94 per cent of Pakistanis struggle to afford basic necessities: IPSOS Survey
A recent survey conducted by IPSOS Pakistan, a prominent global market research and consulting firm, has revealed a notable decline in public confidence in the government’s economic management, despite the presence of some positive indicators. The survey, which polled over 1,000 individuals across the country, offers a comprehensive view of
Employees to stage protest over utility stores shutdown on Monday
The Utility Stores Employees Union announced a nationwide strike and protest in Islamabad on Monday. This comes in response to the federal government’s decision to shut down all utility stores, giving them a two-week deadline. Employees, alarmed by the impending closures, have begun organising their demonstrations. Following the decision, all
This European country is giving 20,000 work visas to foreign workers each month
According to the Croatian Interior Ministry, nearly 20,000 work permits are issued monthly in Croatia to address domestic labour shortages. Croatia has solidified its position as one of the fastest-growing economies in the European Union and is projected to maintain steady GDP growth of around 3 percent annually from 2024
Qaumi Bachat Bank savings account profit rate August 2024
The National Savings, also known as Qaumi Bachat Bank, has announced a reduction in the profit rate for its Savings Account (SA), effective August 2024. According to media reports, the new profit rate is set at 19%, a decrease of 1.5% from the previous rate of 20.5%, which had been
Govt debt soars to Rs 67.8 trillion
In May, Pakistan’s federal government debt surged to Rs67.8 trillion, representing one of the most significant monthly increases on record. The State Bank of Pakistan (SBP) reported this rise, noting that the debt grew by Rs1.73 trillion in just one month, equating to an average increase of Rs56 billion per
