FINANCE Minister Muhammad Aurangzeb has called upon “stakeholders” to evolve a broader consensus on key economic issues facing the country to ensure sustainable stability and growth. Talking to the media over the weekend, he said “everyone” should join hands in the national interest and agree on a common “charter of economy”. He did not elaborate who exactly he was addressing but seemed to want
In May 2023, Pakistan’s consumer price index (CPI) inflation hit an all-time high of 38 per cent. Today, it stands at 4.9pc — a seemingly remarkable feat considering the country was at the precipice of a default last year before it clinched a last-minute International Monetary Fund (IMF) bailout. A Reuters report explains that when inflation numbers run high, it can cause big problems for the e
The findings of a World Bank report state that the poverty rate in Pakistan stood at 25.3 per cent in 2024, showing an increase of seven percentage points compared to 2023, with about 13 million additional people falling into poverty. Moreover, in addition to the projected increase in poverty, poor households face disproportionately higher welfare losses and get pushed deeper into poverty, acco
President Xi Jinping said China will put in place “more proactive” macroeconomic policies next year, state media reported, as he addressed a top political advisory body on Tuesday. The country has struggled this year to climb out of a slump fuelled by a property market crisis, weak consumption and soaring government debt. Beijing has unveiled a string of aggressive measures in recent months
Prime Minister Shehbaz Sharif formally unveiled the National Economic Transformation Plan 2024-29 on Tuesday called “Uraan Pakistan: Homegrown National Economic Plan”, with the promise to revive the country’s economy. The five-year plan aims to address key economic challenges through a targeted framework called the “Five Es” — Exports; E-Pakistan; Equity and Empowerment; Environment, Food