In a way, every baby born in Pakistan has over Rs200,000 debt on her head. Debt per person is calculated as Pakistan’s total debt and liabilities divided by the total population. Since 1958, the country has kept going to the IMF for more loans, which come with strings attached. Turning to domestic banks for funds leaves the industry high and dry. When industries don’t have access to enough c
The current fiscal year that began on July 1 may turn out to be another year of low growth and high inflation due to political instability, uncertainty about elections and the growth-choking nature of the International Monetary Fund’s (IMF) short-term financial support. This means people who don’t have jobs — and there are eight million permanently jobless people — may not get jobs during this
Virgin Atlantic operated its final flight from Islamabad International Airport on Sunday after announcing earlier in the year that it will suspend operations between London Heathrow, Lahore and Islamabad. A spokesman for the Civil Aviation Authority said in a press release that a Virgin Atlantic flight took off from Islamabad to London’s Heathrow Airport at 8am on Sunday. Virgin Atlantic com
The Worldwide Bureaucracy Indicators (WWBI) has estimated that in the South Asian region, both Pakistan and India have the largest public sectors with a share of 60 per cent of formal wage employment. WWBI is the unique cross-national dataset on public sector employment and wages developed by the World Bank’s ‘Bureaucracy Lab’. According to the indicators, the wage bill in South Asian countr
Following a tug of war between bulls and bears in the preceding two trading sessions, the bulls established their stronghold at the Pakistan Stock Exchange on Thursday by breaking the psychological barrier of 44,000 points — a feat that the PSX achieved after a gap of almost 56 weeks. Topline Securities said stocks traded on the higher side after the opening bell and stayed in the green territo