Former prime minister Shahid Khaqan Abbasi says Pakistan cannot grow economically unless it becomes a fully functional democracy. Speaking at a session titled “Can Economic Progress and Democracy Coexist?” organised by the Pakistan Institute of Legislative Development and Transparency (Pildat) on Thursday, he said the countries that had prospered while being autocracies were not similar to Paki
Pakistan Stock Exchange (PSX) on Wednesday suffered a massive crash as it plummeted 3,790 points, marking one of the biggest single-day drops in history. The deep plunge sent shockwaves through the market, where extensive selling across key sectors triggered a sharp reversal of confidence. After briefly breaching the 116,000 mark earlier in the day, the KSE-100 index came under mounting pressur
The Financial Stability Board (FSB) on Wednesday pitched recommendations for governments to reduce risks around hedge funds, insurers and other non-bank financial intermediaries, which now account for almost half of global financial assets. The sector of non-bank financial intermediation has grown by around 130% between 2009 and 2023, making markets more vulnerable for stress events, according
The National Assembly Standing Committee on IT and Telecom, during a heated session on Wednesday, deferred the much-debated Digital Nation Pakistan Bill. This decision came after nearly all members of the committee had tentatively agreed to its contents following extensive discussions. Committee Chairman Aminul Haque expressed his support for the bill despite intense debates, particularly from
On Wednesday, Mahesh Mishra, Group Head of Trade and Economy and Political Counsellor at the British High Commission, visited the Sialkot Chamber of Commerce and Industry (SCCI) to discuss opportunities for strengthening trade relations. During his address, Mishra introduced a new development programme crafted by the United Kingdom to support Pakistani exporters. This initiative aims to improve