Pakistan will need to pause debt repayments if it does not secure funding from the International Monetary Fund soon enough, a US bank warned as diplomatic circles in Washington indicated that Islamabad is close to signing a deal with the IMF. But the Bank of America team which prepared the report, also said that China, a close ally, can rescue Pakistan because of its close ties with the country
The informal sector’s contribution to Pakistan’s economy is remarkable as it adds a handsome volume of approximately $661 billion, tantamount to 35.6 per cent of GDP. According to the International Labour Organisation, it constitutes 75pc and 68pc of jobs in rural and urban areas; however, it is pregnant with issues like child and bonded labour, gender-based discrimination, and insecurities in the
FINANCE Minister Ishaq Dar has blamed the delay in the conclusion of discussions with the IMF on the ‘trust deficit’ created by the previous government, accusing it of not meeting its commitments to the lender after signing the $6bn funding programme in 2019. He is right to the extent that the present PML-N-led set-up inherited a fractured relationship with the Fund, because the PTI either drag
Pakistan on Monday said it had signed a memorandum of understanding (MoU) with Iran to supply 100 megawatts of electricity to Gwadar. Energy Minister Khurram Dastgir Khan paid a three-day visit to Iran from March 10 to 13 and held meetings with his Iranian counterpart Ali Akber Mehrabian. The energy ministry said that during a series of meetings both ministers emphasised on boosting cooperat
The Ministry of Commerce on Monday notified rules of origin for implementation of the Preferential Trade Agreement (PTA) signed with Uzbekistan. The rules, issued through SRO289, will cover only those products of exports and imports between the two countries identified for concessions under PTA. Both countries have already identified items for concessions on tariffs and it is estimated that