Pakistan is like a canary in the coal mine in a world where almost 60 countries are drowning in debt while facing significant development spending needs and monumental risks from climate change, writes Murtaza Syed, a former acting governor of the State Bank of Pakistan, in The Financial Times. It is precisely in cases like this that debt relief — and truth-telling — are needed the most, he wro
Sugar export to Afghanistan has resumed after a four-year suspension, with over 400 vehicles crossing the Torkham border in the last four days. According to sources, Pakistan recently allowed the export of 150,000 tons of sugar to Afghanistan, setting the August 15 deadline for the completion of the shipment process. Customs clearing agents at Torkham told Dawn that around 100 vehicles, each
As a last resort to save the economy, the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) on Tuesday announced that it would file a case in the Supreme Court against the unbearable capacity charges being paid to independent power producers (IPPs). FPCCI Acting President Abdul Mohamin Khan, in a statement issued on Tuesday, said despite repeated and unrelenting expressions of it
As earnings season goes into full swing, bullish investors hope solid corporate results will stem a tumble in technology shares that has cooled this year’s US stock rally. The S&P 500’s technology sector has dropped nearly 6% in just over a week, shedding about $900 billion in market value as growing expectations of interest rate cuts and a second Trump presidency draw money away from this year
Ask anyone what’s been troubling them the most lately, and at least nine out of ten will say it’s the relentless price rise. The last financial year (FY24) ended with an average CPI inflation of 23.41%, compared to 29.18% in FY23 and 12.15% in FY22. Simultaneously, the economy grew by 2.4% in FY24, contracted by 0.2% in FY23, and grew by 6.2% in FY22. These indicators unmistakably show that the co