President Arif Alvi has blocked promulgation of an ordinance, moved by the caretaker government just before the end of its term that apparently sought to neutralise the powers of the Indus River System Authority (Irsa) bypassing the Council of Common Interests (CCI). Informed sources said the president rejected the proposed amendments to the 1991 Irsa Act on the grounds that such a critical mat
Bitcoin rose by 4% to $49,477.75 on Monday, its highest since December 2021. The cryptocurrency has risen some 15.7% so far this year, helped by regulators approving U.S. spot bitcoin ETFs and expectations for interest rate cuts. At 1535 GMT, bitcoin was up 3.9% on the day at $49,390.
Exports to the Middle East bounced back with a growth of 32.33 per cent to $1.506 billion in the first six months of the current fiscal year against $1.138bn from a year ago. A surge in demand for Pakistani products was observed from countries like the United Arab Emirates, Saudi Arabia and Kuwait, according to data compiled by the State Bank of Pakistan (SBP). However, the exports to Qatar
The government has constituted a four-member committee to determine the legal status of those state-owned entities (SOEs) which are not covered under the existing SOEs Act of 2023 but remain a major fiscal risk to the federal government for being their large size and impact. According to a notification issued on Monday, the committee led by the Additional Secretary of Corporate Finance comprise
Atif Mian, a prominent Pakistani-American economist and Princeton University professor, has urged the nation’s future leaders to brace themselves for a challenging economic journey and to outline priorities for recovery. Mian emphasised the country’s consistent global economic decline, highlighting last year’s contraction and alarming macroeconomic indicators such as inflation, stunted growth,