Would you believe that out of every 100 rupees the federal government spends each year, Rs52 goes on debt servicing? Sadly, this is true. During July-September 2022, the current expenses of the federal government totalled Rs1.832 trillion. Of this, Rs954 billion was used for domestic and foreign debt servicing, according to the quarterly fiscal review. Domestic debt servicing alone consumed Rs8
Pakistan’s exports to nine regional countries posted a paltry growth of 0.72 per cent in the first quarter (July to September) of 2022-23 from a year ago, the latest data released by the State Bank of Pakistan showed. The country’s exports to Afghanistan, China, Bangladesh, Sri Lanka, India, Iran, Nepal, Bhutan and the Maldives account for a small amount of $953.113 million — just 13.27pc of Pa
Unchecked usage of substandard steel bars has not only compromised the quality and sustainability of infrastructure and residential projects but also posed a serious risk to the future generation as Pakistan is located in a seismic zone, warned Pakistan Association of Large Steel Producers (PALSP) on Monday. In a letter to Federal Minister for Science and Technology Agha Hassan Baloch, the asso
The Economic Coordination Committee (ECC) of the Cabinet on Monday approved Kissan Package with a 27 per cent increase in agriculture loan target to Rs1.8 trillion and reshaped Kamyab Jawan Programme and Kamyab Pakistan Programmes through consolidation of their similar schemes. The meeting of the ECC presided over by Finance Minister Ishaq Dar also approved the standard legal framework for mega
Pakistan and six other nations facing climate risks — called ‘pathfinder countries’ — will be the first recipients of ‘Global Shield’ funding, it was announced at the COP27 summit in Egypt on Monday. Bangladesh, Costa Rica, Fiji, Ghana, the Philippines and Senegal were identified as the other recipients of the package by the Vulnerable 20 Group of Finance Ministers (V20) of 58 climate-vulnera