Pakistan may come under the radar of the Financial Action Task Force (FATF) due to failure to regulate its gold market as 90% of the metal is still traded without formal channels. Undocumented trade and the smuggling of gold dominate the Pakistani market. FATF had urged Islamabad to regulate its bullion market but the bulk of gold is traded outside of formal channels while the gold association
The fragile economic recovery of Pakistan is once again under pressure as the current account deficit widens, undermining growth expectations for the ongoing fiscal year. A new analysis of the Lahore School of Economics (LSE) shows that GDP growth for FY 2025-26 is projected at just 2.4%, the same level as recorded in the previous year, after the current account slipped back into deficit during
The central bank governor said on Wednesday that the current economic growth model cannot sustain a country of 250 million people and the economic stabilisation policies cannot continue indefinitely, urging businesspersons and policymakers for a shift in their approach. Governor Jameel Ahmad spoke about Pakistan's economic model and its implications a day after Planning Minister Ahsan Iqbal bla
Governor State Bank of Pakistan (SBP), Jameel Ahmad, has emphasised the urgent need for Pakistan to transition from short-lived stabilisation efforts to a durable, sustainable, and outward-looking growth model. Speaking at the opening session of the Pakistan Business Council’s (PBC) ‘Dialogue on the Economy,’ on Wednesday, Ahmad highlighted that while Pakistan has repeatedly cycled through phas
Gold was broadly steady on Thursday after hitting a near two-week high in the previous session, as market participants weighed the possibility of a December U.S. interest rate cut amid conflicting signals from the Federal Reserve. Spot gold was down 0.2% at $4,154.09 per ounce, as of 0200 GMT. U.S. gold futures for December delivery fell 0.3% to $4,151.20 per ounce. “At this moment the Fed i