The policy rate cut of 150 basis points by the State Bank on Monday disappointed most of the industrialists as they expected that a much bigger cut would bring the interest rate down to 15 per cent. Atif Ikram Sheikh, the FPCCI president, said the interest rate should come down to 15 per cent to enable Pakistani exporters to compete in the regional and international export markets by reducing t
Under pressure from millers, the government allowed the export of 150,000 tonnes of sugar on Monday despite the high domestic retail prices hovering around Rs160 per kg. The decision came just two days before the national budget at the behest of sugar mill owners demanding to export their surplus production. These millers are part of the Pakistan Muslim League-N coalition government. This wi
Prime Minister Shehbaz Sharif has called a meeting of the federal cabinet today (Tuesday) to review the upcoming federal budget, which is expected to be tabled before the National Assembly tomorrow (Wednesday). The huddle will also provide the PM an opportunity to take his aides into confidence over decisions made during his recent visit to China, a source in the Prime Minister’s Office (PMO
The United Kingdom and Schengen countries raised millions of pounds and euros in fees from rejected visa applications from Pakistan, new research published this month shows. The analysis released by Lago Collective, a community of researchers, policymakers and designers, shows that Pakistanis spent £5.3 million on rejected UK visa applications, with close to 40 per cent applications rejected fr
In a return to previous practice, the National Economic Council (NEC) decided on Monday to continue funding constituency-based schemes and ongoing provincial projects, while approving an indicative national development plan worth Rs3.792 trillion for the next fiscal year to increase the economic growth rate to 3.6 per cent from the current 2.4pc. The expansionary public investment stance is lik