THE finance ministry blaming the hikes in State Bank policy interest rates for the rapid growth in public debt is a case of the pot calling the kettle black. A ministry official told a Senate panel the other day that a 1pc increase in borrowing costs adds a whopping Rs600bn to annual debt-servicing expenses. He maintained that the debt stock had surged by over Rs7tr since January 2022 due to
Lucky Motor Corporation (LMC), the assembler of Kia vehicles, on Thursday reduced the price of various models by Rs100,000-500,000, citing rupee appreciation against the dollar. The new price of Picanto AT, Sportage FWD, AWD and Black limited edition is Rs3.850 million, Rs8.040m, Rs8.770m and Rs9.300m, showing a reduction of Rs100,000-350,000. Sorento 2.4L FWD, 2.4L AWD and 3.5L FWD now carry a
The central government’s debt, both within the country and to foreign entities, surged by nearly a third in the 12 months through August, reaching close to Rs64 trillion, State Bank of Pakistan data showed on Thursday. The 29 per cent increase in debt amounted to Rs14.4tr, as the figure stood at Rs49.57tr by the end of August 2022. Of the total amount, domestic debt rose 23pc to Rs39.79tr, u
The central government’s debt, both within the country and to foreign entities, surged by nearly a third in the 12 months through August, reaching close to Rs64 trillion, State Bank of Pakistan data showed on Thursday. The 29 per cent increase in debt amounted to Rs14.4tr, as the figure stood at Rs49.57tr by the end of August 2022. Of the total amount, domestic debt rose 23pc to Rs39.79tr, u
The European Parliament on Thursday unanimously voted to extend the current generalised system of preferences (GSP) for another four years until 2027 for developing countries, including Pakistan, to enjoy duty-free or minimum duty on exports to the European market. The parliament voted with 561 in favour, five against and two in abstention to extend the current rules on the GSP schemes, inclu