In an apparent move to manage high expectations, the caretaker government on Wednesday said the economy continues to face both domestic and external challenges and “massive” petroleum price hikes twice in August and heavy electricity price shocks would keep inflationary pressures at elevated levels in coming months. “The two massive fuel price hikes witnessed in August and upward adjustment in
Caretaker Prime Minister Anwarul Haq Kakar has directed relevant authorities to formulate an effective strategy to increase the share of industries in Pakistan’s gross national product (GNP) from the current 12 per cent to its full potential. The premier held a meeting to review the performance and targets of the Ministry of Commerce, Industries and Production. An official announcement state
The equities market began the week positively, buoyed by optimism surrounding the upcoming visit of a Saudi delegation to explore investment prospects in mineral, mining, and refinery sectors, coupled with assurances from the army chief to improve transparency in dollar exchange and interbank rates, which boosted investor confidence. The market’s resurgence can be attributed to optimistic devel
Amid a gloomy economic atmosphere and lingering wheat, cotton and dollar crisis, Army Chief General Asim Munir has signalled towards the country’s bright future in view of the upcoming huge foreign investments in various sectors. In a four-hour meeting with some 50 businessmen on Saturday, the army chief said during his recent visit to Saudi Arabia he had informed Mohammad Bin Salman that he ha
The IMF is on board, yet the rupee continues to decline. Previous assumptions pointed towards a prevailing lack of confidence in economic sustainability as the primary driver behind the consistent and steep deterioration in the rupee-dollar exchange rate. The expectation was that after the Stand-by Arrangement (SBA) with the IMF, the rupee-dollar exchange rate situation would improve. This did