News

CDWP clears eight projects worth Rs144bn

The Central Development Working Party (CDWP) on Tuesday cleared a total of eight development projects worth Rs144.3 billion. A meeting of the CDWP, led by Minister for Planning and Development Ahsan Iqbal, approved five development projects with an estimated cost of Rs15.35bn and recommended three others worth Rs129bn to the Executive Committee of the National Economic Council (Ecnec) for forma

Aurangzeb sets sights on stability with IMF deal

Fin­a­nce Minister Muham­mad Aurangzeb asserted on Tuesday that Pakistan was heading in the right direction towards achi­eving macroeconomic stability and continued to stress the importance of securing external financing necessary to secure IMF’s approval for a $7 billion bailout package, with the support of provincial governments. In a recorded address broadcast on national tel­e­vision, Mr Au

Stocks close in red amid economic uncertainty

The Pakistan Stock Exchange (PSX) experienced a mixed session on Monday, with the KSE-100 Index closing 205 points lower after fluctuating between gains and losses throughout the day. The stock market’s benchmark index began the session on a positive note, reaching an intra-day high of 79,014.68. However, profit-taking in the second half of the session pushed the index down to the intraday low

A quest for change

Both Democrats and Republicans are now competing for the mantle of change, which is stated to have emerged as one of the early thematic battlegrounds of the US November presidential elections. The battle is especially significant at a moment when polls show that a sizeable majority of Americans are unhappy with the state of their nation’s affairs, says a political analyst. An overwhelming 69 pe

IMF lifeline and debt dilemma

Pakistan’s economy has long been in the grips of financial instability, characterised by a rising debt burden and frequent recourse to external financing. The recent statement by Finance Minister Muhammad Aurangzeb underscores the urgency of the situation, as he highlighted the anticipated rollover of loans from friendly countries and ongoing negotiations with the International Monetary Fund (I