AN IMF delegation is in Islamabad to assess progress on the Fund’s ongoing $7bn funding programme amidst hopes that the review will not encounter any serious obstacles that could delay the next tranche. The mission will evaluate how Pakistan has done on quantitative performance criteria, structural benchmarks and indicative targets for the first half of the current fiscal year. There have been
Prime Minister Shehbaz Sharif on Tuesday underlined the need to plug Rs850 billion annual losses incurred by state-owned enterprises (SOEs), as well as the need to end circular debt in the power sector. The premier’s comments came while addressing a special meeting of his cabinet members at Islamabad’s Jinnah Convention Centre to review the government’s one-year performance. The Shehbaz adminis
Deputy Prime Minister and Minister for Foreign Affairs Ishaq Dar has expressed confidence in Pakistan’s economic development, hoping the country will join the G20 by 2030. He emphasised that all regulatory bodies should continue working collaboratively and effectively to accelerate the country’s growth. Mr Dar made these remarks while addressing the foundation stone-laying ceremony for the n
Export of services grew 6.16 per cent to $4.748 billion in the first seven months of the current fiscal year from $4.472bn a year ago, driven by the telecommunication sector. Services exports have seen positive growth since February 2024, mainly due to a surge in information technology and other businesses. However, there was a 6.5pc decline in August 2024. In rupee terms, the exports improved
After the detection of irregularities leading to the cancellation of 500-acre Port Qasim land sale last month, the Senate Standing Committee on Maritime Affairs on Tuesday reviewed the current state of Port Qasim’s land holdings and ordered immediate freezing of pending payments in land acquisition deals at Port Qasim, KPT, Gwadar Port and PNSC. The relevant officials earlier briefed the Senate