Pakistan’s balance of the current account failed to stay in surplus for the second successive month, hitting a six-month high deficit of $269 million in the wake of a month-on-month increase in the import of goods and services in January 2024. Besides, foreign investors – mainly China – aggressively pulled out investments from some power projects running in Pakistan, resulting in an outflow of
DEMOCRACY in Pakistan has yet to yield significant improvements in living standards and provide a stable environment for businesses to thrive. Despite this, the recent elections saw 60.5 million Pakistanis using ballots, more than ever before in the nation’s history. It indicates people’s profound trust in democracy and a belief, perhaps perceived irrational by many observers, that an elected g
TAX evasion significantly impedes human development in Pakistan, hindering the provision of essential public services, addressing socio-economic disparities, and ensuring a sustainable future. Despite efforts to strengthen the tax system, evasion persists, depriving the government of revenue and hindering investment in critical sectors of education, healthcare, infrastructure, and social welfare.
A report by Islamabad-based think tank Tabadlab has stated that Pakistan’s debt profile is “alarming” while the country’s borrowing and spending habits were “unsustainable”. The 68-page report, titled ‘A raging fire: Pakistan’s debt crisis’, was released on Sunday. It said that the country’s total debt and liabilities — including domestic and external debt — to be at Rs77.66 trillion, or $271.2
Global ratings agency Fitch on Monday warned that the “close outcome” of the February 8 polls and the resulting “near-term political uncertainty” may complicate Pakistan’s efforts to secure a financing agreement with the International Monetary Fund (IMF). Nearly 60.6 million Pakistanis voted in the country’s 12th general elections earlier this month amid a day-long suspension of cellular servic