Finance Minister Ishaq Dar has categorically declared that the resolution passed by the National Assembly last week urging the federal government to transfer the amount that has already been allocated and released for various ongoing development projects to a non-lapsable account cannot be implemented because of a legal hitch. The finance minister made this assertion on the floor of the assembl
The United Nations Conference on Trade and Development (UNCTAD) launched on Tuesday a new generation Productive Capacities Index (PCI) to help countries make more accurate diagnostics and measurements of their economic performance. In turn, this can shape more effective policies and their implementation. The PCI measures countries’ abilities to produce goods and deliver services, which are crit
With an unending rise in inflation, the electricity costs continued to go up as ex-Wapda Distribution Companies (Discos) and K-Electric have sought clearance to extract almost Rs30 billion more from their consumers amid heat waves in the country. In their separate tariff petitions, Discos are seeking to raise an additional Rs27bn from their consumers in July’s bill while KE has sought to extrac
Plagued by economic challenges amid an ‘inordinate’ delay in the revival of the International Monetary Fund (IMF) programme, civilian and military leaders on Tuesday devised an ‘economic revival plan’ to capitalise on “untapped potential in key sectors” and attract foreign direct investments. A statement issued by the PM Office said the meeting was chaired by PM Shehbaz Sharif and participant
Pakistan has qualified for the United Kingdom’s new preferential trade scheme, which allows Islamabad to avail duty-free exports to the UK markets. On June 19, the preferential trade programme called the Developing Countries Trading Scheme (DCTS) replaced the UK’s Generalised Scheme of Preference (GSP). Pakistan will be one of the 65 countries to avail lower tariffs on exports to the UK market.