As we celebrate the completion of 75 years of freedom, the time is ripe for choosing a wiser course of action for future economic development. Historically, foreign aid played an important role in Pakistan’s economic development in the 1960s and 1970s. During this period, the country made a massive investment …
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The Pakistan Stock Exchange (PSX) continued its positive momentum on Monday, rising by more than 450 points shortly after trading opened. According to the PSX website, the benchmark KSE-100 index gained 473.67 points, or 1.11 per cent, by 10:01am to reach 43,331.24 points. Head of Research at Intermarket Securities, Raza …
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ISLAMABAD: The government has given a commitment to the Asian Development Bank (ADB) to approve and commence with effect from January 1, 2022 the implementation of National Carbon Pricing Strategy under the country’s overall tax policy to raise tax-to-GDP ratio to 10pc by FY2025 from 8.5pc now. This is part …
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RIYADH: Oil giant Saudi Aramco on Sunday unveiled record profits of $48.4 billion in the second quarter of 2022, after Russia’s war in Ukraine and a post-pandemic surge in demand sent crude prices soaring. Net income leapt 90 per cent year-on-year for the world’s biggest oil producer, which clocked its …
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• Nominal GDP grows to $383bn from $3bn in 1950 • Per capita income to $1,798 from $86 ISLAMABAD: The structure of economy has drastically changed since Pakistan’s inception in 1947 with industry and then services sectors dominated the economy, says a finance ministry report released on Saturday. The report gives a glimpse …
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KARACHI: To mark the country’s 75 years of independence, the State Bank of Pakistan (SBP) on Sunday issued a Rs75 commemorative banknote featuring not only the portraits of Quaid-i-Azam Mohammad Ali Jinnah, Allama Iqbal, Mohtarma Fatima Jinnah and Sir Syed Ahmed Khan but also highlighting nation’s commitment to address climate …
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THE preoccupation of the Pakistani elite over the last several weeks has been simply to focus on the dollar-rupee exchange rate. For them, nothing else has mattered as much since the rupee lost a significant amount of its value. One can understand why Pakistan’s elite is such an ardent follower …
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ISLAMABAD: The International Monetary Fund (IMF) has convened a meeting of its executive board on August 29 to approve a bailout package for Pakistan, including disbursement of about $1.18bn, before the close of current month. The move follows the completion of the $4 billion in bilateral financing from four friendly …
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KARACHI: The first month of fiscal year 2022-23 (1MFY23) for the entire auto industry began on a negative note, led by a 64.6 per cent drop in Jeep and pickup sales compared to July 2021, due to a significant slowdown in sales. Massive price increases, tightening auto finance, longer Eidul …
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Global rating agencies S&P and Fitch on Friday lowered Ukraine’s foreign currency ratings to selective default and restricted default as they consider the country’s debt restructuring as distressed. Earlier this week, Ukraine’s overseas creditors backed the country’s request for a two-year freeze on payments on almost $20 billion in international …
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