Within three months and ten days of this fiscal year (between July 1 and November 10), the federal government borrowed more than Rs3.244 trillion from commercial banks. In the comparable period of the last fiscal year, the then federal government’s borrowings from banks totalled just Rs827 billion or one-fourth of where these borrowings stand today. What is more disturbing is the fact that this
As Pakistan seeks continuous and extended international support at the global climate conference (COP28) in Dubai this week, the International Monetary Fund (IMF) has told the government that the budget for FY2024-25 should practically be a turning point for the planning mechanism and investment portfolios based on climate adaptation. “There is a need to be transparent on climate-related action
The benchmark of listed companies hit another all-time high on Thursday, thanks to the improving macroeconomic outlook following the successful review of the International Monetary Fund (IMF) programme. Topline Securities Ltd said the session commenced on a buoyant note and the momentum remained strong throughout the day. Market participants opted to switch their positions by booking profits
THERE is a debate in Pakistan on the foreign trade strategy we should pursue: export promotion, or import substitution? In much of the world, especially Southeast Asia, the debate has been won by export promotion to spectacular effect. We, however, are still confused, trying to carry out the best of both strategies and ending up with the worst of both. Import substitution is a strategy that see
The city’s industrialists on Tuesday warned the caretaker government of intensifying protests from the second week of December if it doesn’t reduce gas prices. “If the government fails to pay attention to the business community’s demand, we will display protest banners all over the city and observe no-export day twice and even thrice a week,” Businessmen Group Vice Chairman Jawed Bilwani told r