The central government debt surged by Rs8.07 trillion, or 13 per cent, during the previous fiscal year, bringing the total to Rs68.9tr by the end of June 2024, according to data released by the State Bank of Pakistan (SBP) on Thursday. The debt stock rose by 1.7pc in just one month, as it stood at Rs67.73tr by the end of May. The sharp rise in debt has exacerbated financial challenges for bo
In compliance with the IMF programme, the government has set guidelines for top appointments in state-owned enterprises (SOEs) and initiated hiring four directors for the Debt Management Office (DMO). According to a notification issued by the Ministry of Finance (MoF), all ministries and federal SOEs have been directed to meet these minimum conditions described in the SOEs C-Level Appointments
On the eve of Independence Day, the stock market extended the overnight losses in mixed trading as jittery investors opted to take profits on Tuesday amid mounting political tensions. Ahsan Mehanti of Arif Habib Corporation said stocks closed lower on uncertainty over IMF’s approval for the proposed termination of contracts with 15 independent power producers and a likely cut of up to Rs400 bil
THE prime minister wants to bring down the cost of electricity. He should start by repairing the fiscal equation of the state. There is no harm in talking with power producers to see if coal-fired power plants can be shifted to domestic coal as a way to bring down fuel costs. It is also good to order a move towards smart metering in the distribution companies, something that should have been do
The Asian Development Bank (ADB) has stressed the need for a new urbanisation mode for Pakistan as failing public services, declining quality of life, and decreasing economic productivity undermine urban agglomeration’s economic and social benefits. The Manila-based lender’s report, ‘Pakistan National Urban Assessment: Pivoting towards Sustainable Urbanisation’, released on Wednesday, points ou