As per the Fund’s traditional approach, the programme is grounded in a basic accounting and meaningless framework that relies on a cash-based system to achieve a magical number for primary surplus (or deficit), all the while ignoring the structural problems of the country. At best, lip service is paid to reforms. Despite all the celebrations, let us not forget that we are in a low-investment, l
Domestic gold rates for 10 grams and one tola reached an all-time high of Rs237,654 and Rs277,200, respectively, on Wednesday, increasing by Rs1,886 and Rs2,200, compared to Tuesday’s rates. According to the All Sindh Saraf and Jewellers Association, the local rates surged due to a $22 per ounce rise in world gold prices to $2,675. The previous all-time high was recorded on Sept 26, when the
Prime Minister Shehbaz Sharif and his Russian counterpart Mikhail Mishustin on Wednesday agreed to pursue robust dialogue and cooperation in areas of trade, industry, energy, connectivity, science, technology and education. The agreement was reached as the two leaders had a meeting at the Prime Minister’s House, at the margins of the 23rd SCO summit in Islamabad. The two prime ministers d
Structural impediments are challenges to sustaining macroeconomic stability, the State Bank of Pakistan (SBP)’s annual report on the state of the economy said on Thursday. “Falling investment … unfavourable business environment, lack of research and development, and low productivity, alongside climate change risks continue to constrain the economy’s growth potential,” the SBP said in a statemen
The State Bank of Pakistan’s (SBP) foreign exchange reserves increased by $215 million to $11.022 billion during the week ended on Oct 11, reaching the highest level since FY21. In its announcement on Thursday, the central bank did not disclose the source of this inflow, but the market considers that the SBP has been buying dollars from the banking market. The government has projected to boo