Minister for Finance and Revenue Senator Muhammad Aurangzeb on Monday visited the office of the Auditor General of Pakistan (AGP) where he expressed appreciation for the work being done by the supreme audit institution of the country. He stressed the importance of reforms to ensure transparency and accountability in government finances. The finance minister took keen interest in the professi
Employees Old-Age Benefits Institution (EOBI) acting Chairman Dr Javed Shaikh has announced that they will set up a help desk every Monday at premises of the SITE Association of Industry to facilitate its members in the resolution of their issues related to EOBI contribution. He assured members of the association that its representatives would be included in the board of directors of EOBI when
Pakistan has constituted a negotiation committee to finalise the price and draft a commercial agreement for the sale of its 15% stakes in the Reko Diq copper and gold mines project to Saudi Arabia. The negotiation committee has been authorised to undertake a review of the price discovery mechanism being developed by the international advisors and to assess the Saudi offer. It will also engage w
Bullish momentum continued at the Pakistan Stock Exchange (PSX) on Monday as shares gained more than 600 points in intraday trade. The benchmark KSE-100 index climbed 621.85 points, or 0.64 per cent, to stand at 98,420.08 from the previous close of 97,798.23 points at 12:45pm. Finally, the index closed at 98,079.78, up by 281.55 points, from the previous close. Mohammed Sohail, chief executi
One of the primary criticisms of International Monetary Fund (IMF) stabilisation programmes is the imposition of stringent conditionality, often characterised by austerity measures. According to the IMF’s own research, such measures can lead to short-term economic contraction and social unrest. A 2015 paper titled “The Role of Fiscal Policy in the Post-Crisis Economic Recovery” suggests that auste