pakistan economy

China Pakistan relations: Pakistan jittery as suspense continues on energy sector loan from China

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China Pakistan relations: Pakistan jittery as suspense continues on energy sector loan from China

Two key Pakistani ministers are camping in Beijing to discuss the cash-strapped country’s request for rescheduling its outstanding debts with China linked to the ambitious China-Pakistan Economic Corridor. Muhammad Aurangzeb, Pakistan’s Minister for Finance and Revenue, and Sardar Awais Ahmad Khan Laghari, the Minister for Energy (Power Division) are both in Beijing for the last … Read more

In Pakistan, begging is a big business with thriving exports

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In Pakistan, begging is a big business with thriving exports

With its economy turning precarious, Pakistan has been accosting other countries and multilateral institutions for financial help. That has made ‘begging’ an important figure of its political discourse in which its citizens rue that their country has to “beg” for foreign aid which is often hard to come by and requires persistent importuning by its … Read more

Pakistan’s public sector enterprises suffocate under mounting PKR 1.7 trillion debt

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Pakistan’s public sector enterprises suffocate under mounting PKR 1.7 trillion debt

The Pakistan government’s efforts to reform its public sector enterprises (PSEs) have been marred by persistent challenges, as highlighted by recent fiscal data and international funding initiatives, Dawn reported. Despite a substantial loan from the Asian Development Bank (ADB) aimed at bolstering reforms, the cumulative debt of PSEs has soared to PKR 1.7 trillion, with … Read more

Pakistan has met all requirements for IMF bailout deal, finance official says

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Pakistan has met all requirements for IMF bailout deal, finance official says

KARACHI: Pakistan is looking to clinch a staff level agreement on an International Monetary Fund bailout of more than $6 billion this month after addressing all of the lender’s requirements in its annual budget, its junior finance minister told Reuters. The South Asian country has set challenging revenue targets in its annual budget to help … Read more

Pakistan govt highlights critical risks to budget 2024-25 in fiscal statement to Parliament

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Pakistan govt highlights critical risks to budget 2024-25 in fiscal statement to Parliament

Islamabad: Pakistan’s cash-strapped government has highlighted almost a dozen critical risks to next year’s budget and medium-term outlook, including lower than estimated economic growth, unexpected climatic or natural disasters as well as continuing poor performance of state-owned entities. In a written statement on the fiscal risks submitted to Parliament, Finance Minister Muhammad Aurangzeb and Secretary … Read more

Pakistan’s current economic model is not working: World Bank

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Pakistan’s current economic model is not working: World Bank

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