The Executive Board of the International Monetary Fund (IMF) completed the first review of Pakistan's economic reform program supported by the IMF's Stand-By Arrangement (SBA), allowing for an immediate disbursement of about 700 million U.S. dollars, the IMF said Thursday.
Pakistan is on the brink of collapse. Its economic woes are well-documented, but the recent surge in terrorist attacks across the country paints a far more ominous picture. A disturbing pattern of targeted killings of militants, primarily those affiliated with groups like Lashkar-e-Taiba, Hizbul Mujahideen, and Jaish-e-Muhammed, has emerged in recent months.
In a grim turn of events, reports suggest Pakistan’s ongoing economic crisis has compelled some of the nation’s biggest auto giants to halt production. In recent days, the automotive giants Honda, Suzuki, and Toyota have announced the suspension of their operations, raising concerns among Pakistanis about the stability of the automobile industry in the country.
Pakistan is grappling with a crippling economic crisis, losing a staggering USD 23 billion per year due to the pervasive issues of black marketing and smuggling, according to a recent report by ACE Money Transfer, a UK-based company.
The Khyber Pakhtunkhwa government has not released money to the local bodies out of their Rs63 billion share in the development funds in around two years, leaving the system paralysed, media reports said.
The World Bank’s report, Pakistan Human Capital Review (HCR), Building Capabilities Throughout Life, underlines the need for Pakistan to significantly increase investments in human capital to address the severe gaps it faces in education and health outcomes particularly.
Pakistan's Jamaat-e-Islami (JI) has announced it will observe a three-day sit-in demonstration in Pakistan's Lahore city to protest against rising inflation.
A report released by Pakistan's Intelligence Bureau on smuggling, tax evasion, drug trade, illegal currency business and misuse of Afghan transit trade showed mafias are bleeding the economy of the country.
Fitch Ratings and Moody’s Investors Service on Monday warned of continued threats to Pakistan’s financial sustainability, despite the country receiving a much-needed $3 billion lifeline from the International Monetary Fund (IMF) over the weekend.
The Pakistani federal government's debt rose 32 percent to Rs58.962 trillion in the year to May, as per data released by the central bank.
Islamabad: More than 100 technical and vocational training centres are feared to be closed in Pakistan's Khyber Pakhtunkhwa region due to lack of funds, media reports said.
In the wake of the COVID-19 pandemic, the global landscape has changed drastically, and this change has been no less drastic for the South Asian region. Two countries, Bangladesh and Pakistan, once part of the same nation, now stand worlds apart in their trajectories.
Islamabad: The World Bank has termed the rise in Pakistan’s fiscal deficit and debt as “dangerous” for its economy and made several suggestions to the country to counter this problem — starting with the end of subsidies.
The State Bank of Pakistan has moved up key interest rates by a massive 300 basis points (bps), the highest figure touched since 1996.
Islamabad: Pakistan's middle class and low income groups might be finding a tough time this Ramadan amid rising prices of products.