The global air transport body has warned of an ‘aviation crisis’ in Pakistan as airlines are struggling to recover $290 million due to a severe financial crisis, the Financial Times reported on Thursday. Pakistan Civil Aviation Authority (PCAA) has said it was trying to pay the airlines on time and has been in contact with relevant authorities over the issue. The Financial Times, while quoti
Share prices rose on Monday with the benchmark KSE-100 index gaining 452.03 points, or 1.08 per cent, to reach 42,246.69 points at 10:38am. Intermarket Securities’ Head of Equity Raza Jafri attributed the gains to market expectations that the government would clinch a desperately needed staff-level agreement (SLA) with the International Monetary Fund (IMF) this week. “The reported extension
Pakistan will need to pause debt repayments if it does not secure funding from the International Monetary Fund soon enough, a US bank warned as diplomatic circles in Washington indicated that Islamabad is close to signing a deal with the IMF. But the Bank of America team which prepared the report, also said that China, a close ally, can rescue Pakistan because of its close ties with the country
The informal sector’s contribution to Pakistan’s economy is remarkable as it adds a handsome volume of approximately $661 billion, tantamount to 35.6 per cent of GDP. According to the International Labour Organisation, it constitutes 75pc and 68pc of jobs in rural and urban areas; however, it is pregnant with issues like child and bonded labour, gender-based discrimination, and insecurities in the
FINANCE Minister Ishaq Dar has blamed the delay in the conclusion of discussions with the IMF on the ‘trust deficit’ created by the previous government, accusing it of not meeting its commitments to the lender after signing the $6bn funding programme in 2019. He is right to the extent that the present PML-N-led set-up inherited a fractured relationship with the Fund, because the PTI either drag