Tag: pakistan economy

Pakistan to privatise all state-owned firms, except strategic enterprises: PM Sharif

May 14, 2024 admin

Pakistan’s Prime Minister Shehbaz Sharif. File | Photo Credit: Reuters Cash-strapped Pakistan will privatise all state-owned enterprises, including the loss-making Pakistan International Airlines, Prime Minister Shehbaz Sharif announced on May 14, broadening the government’s initial plans to make only loss-making state firms private. The announcement to privatise state-run enterprises barring strategic ones comes a day…

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Pakistan PM discusses new loan programme with IMF chief Georgieva

April 29, 2024 admin

Pakistan’s Prime Minister Shehbaz Sharif speaks at the World Economic Forum (WEF) in Riyadh, Saudi Arabia, April 28, 2024. | Photo Credit: Reuters Pakistan Prime Minister Shehbaz Sharif has met IMF chief Kristalina Georgieva and discussed a new loan programme for the cash-strapped country to put the economy back on track. In a meeting on…

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Cash-strapped Pakistan makes formal request to IMF for another bailout

April 20, 2024 admin

Pakistan Finance Minister Muhammad Aurangzeb. File | Photo Credit: Reuters Pakistan has formally sought a bailout package in the range of $6-$8 billion with the possibility of augmentation through climate financing from the IMF, a media report said on April 20. Cash-strapped Pakistan also requested to dispatch the International Monetary Fund (IMF) review mission next…

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About 10 million people at risk of slipping into poverty in Pakistan: World Bank

April 3, 2024 admin

Economic activity is subdued in Pakistan, the World Bank noted. Representational | Photo Credit: Reuters The World Bank has painted a grim economic picture of Pakistan in its biannual report, cautioning that over 10 million more people are at risk of descending into poverty in the cash-strapped country. The Washington-based lender’s apprehension comes from a…

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Pakistan to ‘seriously’ consider restoring trade ties with India: Foreign Minister Dar

March 24, 2024 admin

Muhammad Ishaq Dar has said that the Pakistani business community wants the government to resume trade with India. File | Photo Credit: PTI Pakistan will “seriously” consider restoring trade ties with India that remained suspended since August 2019, Foreign Minister Muhammad Ishaq Dar has said, indicating a potential shift in diplomatic stance towards the neighbouring…

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Pakistan’s new President Zardari to not take salary; cites economic hardship of people

March 13, 2024 admin

Chief Justice of Pakistan Qazi Faez Isa, right, administers the oath of office to newly elected President Asif Ali Zardari during a ceremony at the Presidential Palace, in Islamabad, Pakistan on March 10, 2024. | Photo Credit: AP Pakistan’s newly-elected President Asif Ali Zardari on March 13 announced that he would not draw any salary…

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Pakistan’s inflation rises to 31.4% y/y amid high energy prices

October 2, 2023 admin

Pakistani traders went on strike against the soaring cost of living, including higher fuel and utility bills and record depreciation of the rupee against the dollar, which has led to widespread discontent among the public. File | Photo Credit: AP Pakistan’s inflation rate rose to 31.4% year-on-year in September from 27.4% in August, statistics bureau…

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Pakistan’s 40 percent Population Lives Below Poverty Line, Says World Bank: Report

September 24, 2023 admin

The World Bank has asked Pakistan to tax its agriculture and real estate. (Representational) Islamabad: Pakistan’s 40 per cent of the population lives below the poverty line, as per the World Bank, Dawn reported. Dawn is a Pakistani English-language newspaper. The country now needs to take a look at its policy decisions driven by strong…

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Yet another hike smashes fuel prices record in Pakistan, prompts furore

September 16, 2023 admin

Petrol and diesel have become costlier by 20% since the caretaker government took over in August in Pakistan. | Photo Credit: Reuters Amid double-digit inflation, Pakistan’s caretaker government has effected yet another hike in the prices of petrol and diesel taking them to a historic high — over (Pakistani) Rs 330 per litre — prompting…

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Pakistan shopkeepers strike nationwide over inflation

September 2, 2023 admin

Pakistani shopkeepers close their businesses during strike against inflation in Lahore, Pakistan, on September 02, 2023. They protested the soaring cost of living, including higher fuel and utility bills and record depreciation of the rupee against the dollar. | Photo Credit: AP Thousands of Pakistan traders shuttered their shops on Saturday, striking over soaring energy…

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