Inflation rises year-on-year to record 8.4pc in August
While the consumer price index inflation did not increase much compared to last month of July, it recorded a slightly higher increase on a year-on-year bases compared to August 2020. According to a recent government report the inflation is poised to reach 9 per cent due to monetary expansion and increasing prices in international market.
Standard & Poor’s affirms stable outlook for Pakistan
On the condition of implementation of economic reforms by the government, the credit rating agency Standard & Poor’s Global sees Pakistan progressing on economic fronts. It has estimated that Pakistan’s foreign financing needs are covered for the next twelve months, with bilateral and multilateral inflows.
Overseas Pakistanis can now redeem cash-rewards for sending remittances
The federal cabinet of Pakistan under the presidency of Prime Minister Imran Khan has approved the redemption of cash for the points earned by remitters under National Remittance Loyalty Programme from October onwards.
Pakistan records 59 pc increase in Business Confidence Index
As lockdown lifts and Pakistan's manufacturing industries resume operations, investors express confidence and optimism regarding the country's business environment. Due to this, the OICCI upgraded Pakistan by 59pc in its survey.
IMF approves reforms to help poor countries in economic recovery
The reforms will increase the normal limits on access to concessional financing by 34 percent, coupled with the elimination of hard limits on access for the poorest countries. This would increase the flexibility of funds disbursement according to the need of the related countries.
Financial setoff mechanism by govt owned IPPs may loosen the noose of circular debt; envisions Hammad Azhar
Circular debt, Pakistan’s bleeding wound has been the anathema to economic progress and social alleviation for many years. With the approval of the financial setoff mechanism for government-owned entities by ECC, circular debt may decline. Should we take it with a grain of salt or is there some weight in this?
Pakistan’s economic development amidst global challenges
Pakistan on the right track of economic development despite global challenges. However, if the hurdles are not handled tactfully, it may hamper the stability and growth rate of the economy, experts warn.
Empowering Pakistan’s youth: PM’s YES Scheme
Now that most of the country's major banks have said yes to "YES," the program initiated by PM Imran Khan, it will be a positive incentive for the youth and those with ideas to start their businesses, which by extension could become significant contributors to Pakistan's economic growth and development.
Finding Pakistan’s missing exports
World Bank trade expert argues that while Pakistan’s recent export recovery needs to be celebrated, the country is still very far from achieving its export potential. Postponing structural reforms conducive to that end have high opportunity costs in terms of long-term growth, job creation, and tax revenues.
The promise of nutrition broken in budget 2021-22 as dairy industry taxed
The budget presented to the parliament on 11th June has negative implications for the dairy sector and would suck out around Rs5 billion from the industry by raising the sales tax in the industry to 17 per cent from 10 per cent. This would impact the poor people who will bear the tax burden.
Here is a summary of Pakistan’s budget for fiscal Year 2021-22
Imran Khan's government is due to present its third budget of value Rs8 trillion for the upcoming Fiscal Year 2021-22 and here are the updates as they come.
JP Morgan points to improved economic situation in Pakistan: Farrukh
The minister said the report predicted decline in the fiscal deficit from current 7.1 percent to 5.9 percent of the GDP during the next financial year.