Pakistan‘s current economic model is not working, a top World Bank official has said, underlining that the cash-strapped nation must change policies that have plagued development and benefitted only a few. The remarks by World Bank Country Director Najy Benhassine came in a Policy Vision article, published in the latest UNDP publication. Pakistan’s current economic … Read more
In a major development, Pakistan has in principle approved 28 projects worth billions of dollars that would be offered to Gulf countries for investment with the long-term objective to reduce reliance on loans and imports. The newly established Special Investment Facilitation Council (SIFC) — a hybrid civil-military forum — is leading the drive to fast-track … Read more
RSS joint general secretary Krishna Gopal said India can give away 20-25 lakh tons of wheat | Photo Credit: S. Sudarshan RSS joint general secretary Krishna Gopal said that India was in a in a position to send over wheat to Pakistan in view of the food crisis in the neighbouring country, despite the acrimonious relationship … Read more
An employee of a petrol station updates the latest fuel prices on a board in Karachi on February 16, 2023, after a hike in prices of petroleum products by the government. | Photo Credit: AFP Pakistan’s National Assembly on Tuesday, February 21, 2023, unanimously passed a money bill aimed at raising tax revenues to fulfil … Read more
Pakistan is currently at the beginning of the worst economic crisis since the country’s formation in 1947, Geo-politik reported. According to Geo-politik, Pakistan has taken fourteen loans from the IMF thus far, but ironically none of them has ever been completed. This, therefore, raises serious questions about the capacity and capability of the Pakistan state … Read more
The State Bank of Pakistan’s foreign exchange reserves dipped $11 billion to $5.6 billion from $16.6 billion in January 2022. | Photo Credit: Reuters Pakistan central bank’s foreign exchange reserves plummeted to an eight-year low of over $5.5 billion amidst fear of default, according to a media report on Friday. The forex reserves have dwindled … Read more