The coalition government has managed to add a net Rs7.2 trillion to the debt pile in only the first seven months of this fiscal year – an average of Rs34 billion per day. The accumulation of debt is now nearly three times more than the gap between federal income and expenditures. The State Bank of Pakistan (SBP) on Tuesday released the central government’s debt bulletin until January 2023, show
In a move to promote strategic cooperation between China and Pakistan in industry-university research on modern agriculture, documents of understanding (DoU) were signed by the National University of Sciences and Technology (NUST), Weifang Engineering Vocational College, Qingzhou Municipal Government and Weifang National Comprehensive Pilot Agriculture Zone at Weifang last week. The four sides
The Pakistan Software Export Board (PSEB), in collaboration with the Pakistan Embassy in Copenhagen, has organised the visit of an IT Trade Delegation to Denmark and Sweden from March 6 to March 10, 2023. The delegation comprises of 25 of Pakistan’s top IT companies from various domains, including artificial intelligence (AI), internet of things (IoT), blockchain, cybersecurity, digital marketi
Pakistan’s long steel sector is bracing itself for a potential shortage of raw material in anticipation of steel scrap prices hitting a record high. A move that poses a significant threat to the industry’s operations and profitability. With Letters of Credit (LCs) not being opened, domestic scrap shortage is compounding and is hitting manufacturers drastically, said Syed Wajid Bukhari, Secretar
The International Monetary Fund (IMF) has raised objections to Pakistan’s plan to directly borrow from local commercial banks in relaxation of competition rules, resisting the move that might cause distortion in the debt market. The objections were raised during a meeting held on Monday between Pakistani authorities and an IMF team, according to sources. The IMF did not endorse federal cabinet’