Food inflation that was already high before the 2022 monsoon floods in Pakistan further accelerated after the floods, particularly in rural areas. In rural areas food inflation rate crossed 30 per cent in August amidst super floods and remained above that level for the next four months, peaking at 37.9pc in December 2022. In urban areas, people witnessed food inflation rising past 30pc in Septe
Oil prices edged up on Monday, a day after travellers streamed into China following a reopening of borders that lifted the fuel demand outlook and partly offset concerns of global recession. Brent crude futures had risen 53 cents, or 0.7 per cent, to $79.10 a barrel by 0114 GMT while US West Texas Intermediate crude was at $74.23 a barrel, up 46 cents, or 0.6pc. Hopes for less-aggressive US
Shares rose slightly on Thursday as investors expected a breakthrough on the circular debt issue. Topline Securities said the confirmation of the foreign exchange inflows from friendly countries and the announcement of a donor conference scheduled for Jan 9 also helped improve sentiments. Finance Minister Ishaq Dar said a day ago the country would soon receive financial help of $3 billion fr
PAKISTAN’S economic situation is unquestionably dire. The yawning trade and current account deficits, galloping inflation and default prospects have generated significant comment. It is noteworthy, though, that the working masses, who bear the biggest brunt of the downward economic spiral, barely feature in most analyses. Most commentary has focused on the efficacy of short-term fixes like the
SELDOM before in the past few decades have I heard Pakistanis — friends, students, colleagues, acquaintances and even strangers — sound so despondent and negative about the future of the country as I have over the last few months. The economic situation has been tough for a few years now. But the mood over the last year or so has really turned sour. And continues to be so. The economic situatio