economic
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Economic woes leave Pakistan’s textile industry tattered
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[ad_1] A worker operates a machine preparing fabric at the Kohinoor Textile Mills in Lahore on July 20, 2023. — AFP LAHORE: As Pakistan’s textile industry loses ground to more nimble Asian competitors, factory worker Lubna Babar was made redundant at the beginning of the year — one of the many victims of the crisis.…
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A precarious economic crisis and IMF’s reforms | The Express Tribune
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[ad_1] KARACHI: Pakistan is facing a severe economic crisis that has been exacerbated by the global energy crisis, the COVID-19 pandemic, and rising inflation. According to the finance division report, the country’s current account deficit, which measures the gap between its foreign earnings and spending, has widened to 6.4% of GDP in the first quarter…
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IMF says implementation of SBA crucial to Pak’s economic future | The Express Tribune
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[ad_1] The International Monetary Fund’s (IMF) Director of Strategic Communications Julie Kozack has said that “steadfast implementation” of the nine-month Stand-by Arrangement (SBA) was critical to Pakistan’s future. “Steadfast implementation is critical to address its large financing needs & support the most vulnerable,” she said in a statement on Thursday. The Stand-By Arrangement (SBA) for Pakistan 🇵🇰…
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Logistic companies struggle to achieve economic growth | The Express Tribune
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[ad_1] KARACHI: Logistic companies in Pakistan are grappling with low margins, high taxes, and an unfavourable business environment, hindering their ability to contribute to the overall economic growth of the country. Seagold, CEO, Ayaz Admani highlighted the concerning decrease in average gross margins for Pakistani companies. In recent years, margins have plummeted from 3% to…
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IMF deal charts path to economic recovery | The Express Tribune
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[ad_1] KARACHI: The new International Monetary Fund (IMF) loan programme of $3 billion has given an economic roadmap to Pakistan for a short-to-medium duration, covering three quarters of the current fiscal year, including the period of caretaker government ahead the next general elections scheduled for later this year. Experts believe that the lifeline, made available…
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Ministers paint a gloomy economic picture | The Express Tribune
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[ad_1] ISLAMABAD: Defence Minister Khawaja Asif on Wednesday painted a very dismal picture of the national economy, lamenting that how could a budget be prepared in the country where tax evasion topped Rs3,500 billion. Taking part in the budget debate in the National Assembly, the minister said 80% of the country’s population could not eke…
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Ishaq Dar for further enhancing economic ties with China
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[ad_1] Pang Chunxue, Charge’d Affairs at the Chinese embassy, calls on Finance Minister Ishaq Dar on June 12, 2023. — PID ISLAMABAD: Finance Minister Ishaq Dar on Monday stressed the need to further deepen bilateral relations with China with special focus on economy, trade and financial sectors. He made the remarks while talking to Pang…
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‘Country has successfully overcome economic vulnerability’ | The Express Tribune
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[ad_1] Finance Minister Ishaq Dar said on Saturday that the country had “successfully” overcome economic vulnerability resulting in a halt to “any further decline”. The minister was addressing the post-budget press conference in Islamabad. A day earlier, the government unveiled a Rs14.5 trillion bloated budget, with the highest-ever deficit of Rs7.6 trillion in a bid…
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Hammad Azhar lashes out at PDM for economic destruction
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[ad_1] PTI leader Hammad Azhar. — APP Pakistan Tehreek-e-Insaf (PTI) leader Hammad Azhar Friday slammed Finance Minister Ishaq Dar for presenting the pre-budget Pakistan Economic Survey 2022-23. The politician said Dar should have also presented his resignation along with the economic survey. Lashing out at the Pakistan Democratic Movement’s (PDM) coalition government, the former finance…
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Pakistan falls short of all economic targets as floods and politics weigh, reveals Economic Survey FY23
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[ad_1] Finance Minister Ishaq Dar addressing the press conference after unveiling the Pakistan Economic Survey Pakistan’s GDP growth rate came to a crawl in the ongoing fiscal year — one of the worst in terms of meeting annual macroeconomic targets — dragged down by agitational politics, cataclysmic floods, trade barriers, and a dangling International Monetary…
