Pakistan’s decades-long progress in poverty reduction has halted and reversed since 2020, as compounding shocks—including COVID-19, inflation, floods, and economic stress—have exposed the limits of a consumption-driven growth model, according to a new World Bank report that urged sustained, people-centred reforms to protect vulnerable households and restore momentum. According to the World Bank
Importers and used car dealers have expressed grave concerns over what they termed a “propaganda campaign” against commercial import of five-year-old used vehicles, which is expected to be allowed and implemented by Pakistan government from October 1, 2025 for the first time in the country. All Pakistan Motor Dealers Association (APMDA) Chairman H M Shahzad said the draft of the bill [Motor Veh
Deputy Prime Minister and Foreign Minister Senator Mohammad Ishaq Dar on Tuesday said Pakistan was keen to deepen trade and investment linkages with Hungary, as the two countries marked 60 years of diplomatic relations. He made these remarks during a meeting with Hungarian Foreign Minister Peter Szijjarto on the sidelines of the 80th UN General Assembly session in New York. The two sides rea
The government is preparing a comprehensive package of reforms to strengthen investor confidence and improve the ease of doing business, with a focus on venture capital, foreign exchange policies, and double taxation, Special Assistant to the Prime Minister on Industries and Production Haroon Akhtar Khan said on Tuesday. He made these remarks during a meeting with Scott Jacob and a delegation o
The Board of Directors of K-Electric (KE) in its meeting held on Tuesday, approved the financial results for the company for the year ended June 30, 2024. Pakistan’s economy in fiscal year 2024 had remained largely subdued and economic activity showed modest improvement, with actual GDP growth of 2.51 percent while high inflation and policy rates remained a dominant challenge. These factors con