In a return to previous practice, the National Economic Council (NEC) decided on Monday to continue funding constituency-based schemes and ongoing provincial projects, while approving an indicative national development plan worth Rs3.792 trillion for the next fiscal year to increase the economic growth rate to 3.6 per cent from the current 2.4pc. The expansionary public investment stance is lik
The government may provide some incentives to encourage local assembly of solar panels in the budget 2024-25. Pakistan Solar Association (PSL) Senior Vice-President Mohammad Zakir Ali, who was part of Prime Minister Shehbaz Sharif’s recent delegation to China, said, “I do not think the government will impose any new taxes and duties on solar panels, which already have zero per cent general sale
The World Bank has approved $1 billion in additional financing for the Dasu Hydropower Project (DHP) in Khyber Pakhtunkhwa’s Upper Kohistan district, it emerged on Tuesday. “The World Bank’s Board of Executive Directors today approved $1 billion in a second round of additional financing for the Dasu Hydropower Stage I (DHP I) Project,” the global bank said in a press release issued late last ni
Amid growing uncertainty about the economic outlook ahead of the budget unveiling, which has been delayed to June 12, the bearish spell continued at the stock market for the fourth consecutive session on Thursday, dragging the benchmark index below the 74,000 level. Ahsan Mehanti of Arif Habib Corporation stated that stocks closed lower due to concerns about economic uncertainty. Investor expec
Moody’s Ratings has projected that Pakistan will draw its foreign exchange reserves to repay the maturing foreign debt, which will keep near-term default risks high. “Argentina, Pakistan and Tunisia have large market debt repayments over the next two years compared to their foreign exchange reserves. Barring new or additional foreign currency financing from development partners, these sovereign