The government has extended the application of Pakistan Essential Services Act to all generation, transmission, distribution and sale of electricity for another six months to Jan 25, 2025 to avoid interruption in power supply because of possible union activities amid ongoing restructuring exercise in the state-owned entities (SOEs). “The federal government is of the opinion that employment unde
Public mistrust of the government stems from the gap between official economic claims and citizens’ real-life experiences. Few believe that inflation is actually one-third of what it was before or that the unemployment rate is low. Official data indicates a sharp decline in inflation to 9.6 per cent from 38pc in May 2023. However, people grappling with eroding real incomes and rising family nee
The recent cut in the interest rate by the State Bank of Pakistan (SBP) is well-calculated and well-timed. The 200 basis points cut in the central bank’s key policy rate — from 19.5 per cent to 17.5pc — is neither too small to make any impact nor too large to let inflationary pressure build up again. But will it help revive industrial production? And will the recent trend of slowing the inflati
During the recently held African Summit in Beijing, some influential African leaders called for a balanced trade relationship between China and the region to narrow the trade deficit and address their trade structure. “One great goal may be narrowing the trade imbalance between China and Africa through increasing imports of agricultural goods and processed minerals,” says Zainab Usman, director
Around the world, financial services professionals — particularly some variety of bankers — are known for their haughtiness. Prestigious schools, inhumanely rigorous training as analysts, and partying at expensive clubs and yachts all help build that reputation. But the fact that they handle and allocate so much capital at least somewhat justifies it. The same arrogance found its way through the l