The Economic Coordination Committee (ECC) of the Cabinet on Monday approved Kissan Package with a 27 per cent increase in agriculture loan target to Rs1.8 trillion and reshaped Kamyab Jawan Programme and Kamyab Pakistan Programmes through consolidation of their similar schemes. The meeting of the ECC presided over by Finance Minister Ishaq Dar also approved the standard legal framework for mega
Pakistan and six other nations facing climate risks — called ‘pathfinder countries’ — will be the first recipients of ‘Global Shield’ funding, it was announced at the COP27 summit in Egypt on Monday. Bangladesh, Costa Rica, Fiji, Ghana, the Philippines and Senegal were identified as the other recipients of the package by the Vulnerable 20 Group of Finance Ministers (V20) of 58 climate-vulnera
State Bank of Pakistan (SBP) Governor Jameel Ahmad said on Monday the country has enough dollars in its coffers to meet foreign debt obligations. Speaking to the press on the sidelines of a ceremony at the Institute of Business Administration (IBA), Mr Ahmad said there’s no reason to worry about a shortage of foreign exchange liquidity. “Our reserves are over $7.9 billion. They’re more than su
With political unrest, the economic activity in Pakistan is weakening further. Depressingly bleak outlook of the global economy compound worries of the country’s business class that desperately wishes for economic recovery and for the political chaos to end but not militarily. In Pakistan, inflation is currently skyrocketing, the external sector is under grave stress, currency value is eroding,
The incumbent government claims it saved Pakistan from imminent bankruptcy and successfully resumed the International Monetary Fund programme. However, Pakistan’s financial health worsened after the floods and now, the debt and capital markets are sending alarming signals that depict nervousness among investors and creditors. The stock market remains jittery and the continued weakness in the va