Prime Minister Shehbaz Sharif on Sunday reiterated that the country was facing substantial financial challenges, with the International Monetary Fund (IMF) “combing every book” during the ongoing negotiations over the ninth review of the $7 billion loan programme. The IMF delegation, headed by Nathan Porter, and the government began the make-or-break discussions last week. Pakistan needs to com
Former Prime Minster Imran Khan says if returned to power after the elections, he would have no choice except to support the role of the International Monetary Fund (IMF) in stabilising the country’s economy. Some idea of how the PTI leadership would go about dealing with the lenders has been provided by Mr Shaukat Tarin. According to the PTI chairman, he will be the federal finance minister if
Recently, the rupee lost roughly 20 per cent value within seven trading sessions. It fell from Rs230.89 to a US dollar on January 25 to 276.57 per dollar on February 3 in the interbank market. The rupee lost this much value in just seven working days as the State Bank of Pakistan reintroduced market-driven exchange rates from January 26 on the International Monetary Fund’s (IMF) insistence. For
The recent deaths of collectors of subsidised flour bags and the wheat deliveries protected by armed guards prove the country’s unrest. This poses a huge question for economists, analysts and policymakers regarding extensive subsidies on wheat and other crops when they create such a crisis. Khalid Mahmood Khokhar, president of Pakistan Kissan Ittehad, in his press conference last week, demanded
The ghastly terror attack in Peshawar last week traumatised Pakistanis. Besides the tragic loss of lives and property, it reminded people of their persistent vulnerability. Terrorism and operations to counter the threat cost Pakistan dearly. The efforts to rid the country of this menace have yet to succeed. The nation compromised on other pressing priorities for years to finance counter-terrori