The World Bank claimed on Tuesday that Pakistan's poverty rate decreased to 22.2% and it would sink further to pre-Covid levels this year, yet reiterating that the country's current economic growth rate was not enough to reduce poverty and improve the living standard. The paradoxical statements by the lender underscore the emergent need for the latest credible data, as the World Bank too has as
The Pakistan Electric Supply Company (LESCO) has signed an agreement with state-owned Pakistan State Oil (PSO) for purchase of oil for vehicles. The agreement was signed at the LESCO head office at a ceremony which was attended by LESCO chief executive officer Engr Ramzan Butt, high officials and representatives from PSO. Under this arrangement, now all vehicles owned by LESCO will get fuel fro
Pakistan’s income tax collection surged to a record Rs 5.83 trillion in fiscal year 2024–25, up sharply from Rs 4.57 trillion a year earlier — but the historic jump has triggered public resentment and debate over fairness in taxation, as both salaried individuals and the business community complain of a rising burden. This was stated by Gohar Ejaz, chairman of the Economic Policy and Business D
Gold prices inched higher on Wednesday, ahead of a widely expected interest rate cut from the Federal Reserve, although easing US-China trade tensions kept bullion strength in check. Spot gold was up 0.2% at $3,957.42 per ounce, as of 0257 GMT, after dropping to its lowest point since October 7 on Tuesday. U.S. gold futures for December delivery eased 0.3% to $3,971.20 per ounce. “The fue
Iranian President Masoud Pezeshkian on Tuesday proposed that Iran and its regional trading partners establish a shared currency to boost commerce amid crippling Western sanctions. Years of international sanctions, largely imposed by the United States over Tehran’s nuclear programme, have severely weakened Iran’s economy. The latest measures were reimposed by the United Nations in September, aft