Pakistan remains a lower-middle income country and will continue to be vulnerable to fluctuating energy prices, warns a UN report released on Monday. The report also places India and Bangladesh among lower-middle-income countries despite their economic gains and urges the entire South Asian region to reduce its energy consumption. Nepal is also placed in the same category, although Afghanistan
The federal development spending fell drastically by 43.68 per cent to Rs151.42 billion in the first half year (July-December) of the current fiscal year from Rs268.87bn over the corresponding period last year to create a space for unbridled current expenditures. In absolute terms, the expenditures so far account for 20.82pc of the total revised allocation of Rs727bn, drastically short of the d
In a bid to avert any shortage of ghee/cooking oil in Ramazan, the Ministry of Industries (MoI) and the State Bank of Pakistan (SBP) on Monday agreed to remove bottlenecks for speedy clearance of 385,000 tonnes of palm oil stuck at customs bonded warehouses due to non-retiring of documents. Edible oil industry sources claimed that an understanding has been reached between the SBP and MoI during
China's economy grew last year at its slowest pace in four decades as it was hammered by Covid lockdowns and a property crisis but the forecast-beating reading raised hopes for a strong recovery as it reopens. Beijing's rigid adherence to its zero-Covid strategy of strict containment that effectively shut the country off from the world hammered business activity last year and threw supply chain
China's economy grew last year at its slowest pace in four decades as it was hammered by Covid lockdowns and a property crisis but the forecast-beating reading raised hopes for a strong recovery as it reopens. Beijing's rigid adherence to its zero-Covid strategy of strict containment that effectively shut the country off from the world hammered business activity last year and threw supply chain