The crackdown launched late last month against the smuggling of hard currencies out of Pakistan has checked speculative demand for dollars. However, the dollar shortage in the market appears to be driven primarily by imports and debt repayments, as evidenced by the decline in foreign exchange reserves and a significant rise in the merchandise import bill. Pakistan’s total foreign exchange reser
The unending cost escalation — 405 per cent (from Rs16.92 billion to Rs85.57bn) as per the unapproved third revised project cost (PC-I), as well as the prolonged delay in the Nai Gaj dam project’s completion, perhaps merit prime ministerial-level intervention to fix responsibility for why a project of vital importance remains incomplete even after 13 years. Nai Gaj dam is primarily a rainwater
The Asian Development Bank (ADB) will provide the Punjab government with ‘project readiness financing’ to support the development of project pipelines and review government’s priority projects. This financing aims to ensure projects are well-prepared for ADB funding and implementation, potentially speeding up the process and disbursement of funds, according to the ADB. The $8.32 million fund
The government is expecting significant investment in Pakistan’s mines and mineral sector and export of copper following the recent bilateral tariff deal with the United States, it emerged on Sunday. During negotiations of the Pakistani team with the US authorities on reciprocal tariffs, the US side has showed interest to invest in the mines and minerals, including copper, Commerce Minister Jam
The recent reduction in the State Bank of Pakistan’s policy rate to 11 per cent, nearly half of what it was in July 2024, has failed to generate enthusiasm among the country’s traders and industrialists. While the rate cut is seen as a step towards easing the cost of doing business, many in the sector argue that it remains uncompetitive compared to regional rates and does little to address the