Economists are taking flak after missing the mark on inflation, failing to anticipate disruptions in global supply chains and forecasting a recession that has not materialised. The Covid-19 pandemic, Russia’s war in Ukraine and more recently the Middle East conflict have made it tougher for experts to see clearly into their economic crystal balls. European Central Bank president Christine La
The Central Development Working Party (CDWP) is expected to take up four development projects involving an estimated cost of Rs241 billion including two much-delayed major water sector projects of over Rs177bn and a Rs43bn controversial road project in Balochistan. To be presided over by the deputy chairman Planning Commission on Tuesday, the meeting of the CDWP will also take up a Rs43bn road
The OECD raised its 2024 world economic growth forecast on Monday but warned that the Middle East conflict posed a risk, with disruptions in Red Sea shipping threatening to increase consumer prices. The OECD now expects a 2.9 per cent expansion, up from 2.7pc in its previous forecast in November, as it sharply lifted the outlook for the United States, the world’s top economy. Global growth “
The resurgence of smuggled tyres in local markets has perturbed the industry, which attributes the issue to falling imports following the rupee’s devaluation and has urged the government to curb the influx of tyres coming into the country from illegal channels. The chief executive of a key market player has regretted that smuggled tyres of all sizes are now easily available in the market. He la
The caretaker government of Prime Minister Anwaarul Haq Kakar has made a record borrowing of almost Rs4 trillion from banks so far. The economy, already crushed under a huge debt burden, may witness an unprecedented increase in borrowings at the end of 2023-24 on June 30 as the amount has already surpassed the total borrowed in the entire FY23. The State Bank of Pakistan’s data showed that t