With the International Monetary Fund’s (IMF) short-term $3 billion Stand-by Arrangement (SBA) loan programme in place and the default fears averted, it was widely hoped that the timely polls in the country would end political uncertainty in the country, putting the faltering economy on the trajectory of stability. However, the new developments surrounding the dissolution of the National Assembl
Domestic Debt Restructuring (DDR) is necessary and viable. The term’ debt restructuring’ includes three possibilities — extension of maturities (re-profiling), coupon resets or reduction of the principal. There is no fourth option. Principal haircuts are generally avoided, and they are not necessary. Re-profiling and coupon resets are sufficient to achieve policy goals. Why restructure domesti
It is not much in headlines, but it is in the making. Iran and the US have reached an understanding, paving the way for the release of US and Iranian prisoners held by Tehran and Washington, respectively, releasing frozen Iranian funds lying in South Korea and “other countries”, and the US is turning a blind eye to the growing Iranian oil exports. The process has been quiet, lengthy, away from
Amid a slump in demand, assemblers have made a steep rise in the prices of vehicles in the last 16 months despite persistent grilling by the Sub-Committee of the Public Accounts Committee (PAC) on various issues hurting consumers’ interest. The rupee has shed its value against the dollar by 58pc in the PDM tenure from Rs182.93 on Aug 11, 2022 to Rs289 on Aug 9, the day Prime Minister Shehbaz Sh
The outgoing Sindh government has fixed the sugarcane rate at Rs425 per 40kg for 2023-24 and announced November 15 as the commencement date for crushing season. This is something rarely seen in the last 15 years. The farmers find this beneficial. The last government raised sugarcane’s price substantially and this change almost seems to be as per growers’ demand as a departing gesture, for 2024