After retiring Rs1.5 trillion in debt during the first half of the current fiscal year (FY25), the government has significantly increased its borrowing from commercial banks, reaching Rs2.7tr by early May. From July to the end of December FY25, the government retired Rs1.541tr from commercial banks, reflecting a cautious approach to keep the fiscal gap within the IMF’s prescribed range in order
China’s Premier Li Qiang said on Saturday that China and Indonesia will promote “true multilateralism”, the official Xinhua news agency reported, as he landed in Jakarta on a two-day visit to Southeast Asia’s largest economy. China has intensified engagement with countries in the region since US President Donald Trump announced hefty import tariffs on its global trading partners earlier this ye
Pakistan Petroleum Dealers Association (PPDA) Chairman Abdul Sami Khan has expressed serious concerns over the amendment to the Petroleum Act 1934, followed by the rising smuggling of petroleum products and a network of illegal petrol pumps. Addressing a press conference at the Karachi Press Club (KPC) on Saturday along with PPDA members, he said one of the main amendments relates to granting u
The country has unveiled its first Power Equipment Manufacturing Dashboard, a real-time digital tool to monitor localisation progress, assess vendor capacity and identify strategic investment opportunities under the Power Sector Indigenisation Plan (PSIP). The launch took place during the National Consultative Workshop on the Power Sector Indigenisation Roadmap, organised by the
A World Bank study says the General Sales Tax (GST) has the largest marginal contribution to the national poverty increase, while GST payments account for over 7 per cent of households’ pretax expenditure, which leads to further impoverishment among poor and vulnerable households. The Effects of Taxes and Transfers on Inequality and Poverty in Pakistan says the GST has the largest negative