The International Monetary Fund (IMF) warned on Tuesday that "tit-for-tat" tariffs could undermine Asia's economic prospects, raise costs and disrupt supply chains even as it expects the region to remain a key engine of growth for the global economy. "The tit-for-tat retaliatory tariffs threaten to disrupt growth prospects across the region, leading to longer and less efficient supply chains,"
Minister for Planning, Development and Special Initiatives Professor Ahsan Iqbal on Wednesday proposed a multi-pronged strategy, aligning the GSP Plus programme with the 5Es framework to achieve export-led economic growth and secure a prosperous future for Pakistan. "The GSP Plus programme represents more than just trade preferences. It is a roadmap for sustainable development and good governan
Experts have presented a proposal for implementing full reserve banking, aimed at reducing domestic debt, interest, inflation and unemployment. They said the proposal is more than just a financial blueprint; it is a call to action for a nation grappling with economic instability and the quest for ethical banking. They made the remarks at a programme titled "Full Reserve Banking: a Solution C
Local auto manufacturers have raised concerns over the proposed new energy vehicle (NEV) policy, fearing it could pave the way for unrestricted imports of completely built units (CBUs) of vehicles at significantly lower duty and sales tax rates. They have further warned that this could lead to a loss of market share for local original equipment manufacturers (OEMs), negatively impact parts manu
Bank financing to businesses in the private sector surged nine percentage points in one month to 44% of deposits by October 25, 2024, as the government approached the Supreme Court to vacate a stay order granted by the Islamabad High Court (IHC) against a 15% additional tax on financial institutions in case they fail to meet the financing target of 50% on December 31, 2024. Citing the State Ban